Choosing a healthcare plan can be overwhelming and confusing. There are often many plans to choose from and none of them are entirely clear as to what they offer and what they do not. If you are currently in the market for health insurance and are looking at numerous health care plans, pay attention to the following important factors of each one.
Monthly premium amount
The monthly premium is the amount that you will pay monthly. If you are going through an employer, the employer might pay a portion of this cost. Otherwise, it will be taken directly out of your pay. Fortunately, you are not taxed on this income. However, you want to make sure that you are not giving up more of your paycheck than you can afford. Look at each monthly premium amount and then compare it to what is offered. If the premiums look high, consider price shopping on your own for individual health insurance.
Healthcare deductible cost
The deductible is the cost that you will pay, should you need to use your health insurance. Most insurance providers do not begin covering any medical care until you have paid a specific amount to them. If this number is very high, you might want to consider other plans or how often you intend to use the health insurance. If you or your family requires many medical checkups, you might want a deductible that is a little less. It is also important to note that lower monthly premiums often mean higher deductibles and vice versa. Keep this in mind when choosing the healthcare plan that is right for you.
Dental insurance coverage
Sometimes, dental insurance plans are an add on to traditional healthcare plans. The good thing about dental insurance plans is that they are usually very affordable, especially when added to an existing health care plan. However, you will still want to evaluate the dental insurance plans that are offered. What types of dental services are covered? What happens if you or a family member needs extensive dental work? Are corrective dental procedures, such as braces or dentures offered? About 90% of Americans with private dental coverage get their benefits through an employer or other group programs.
Vision insurance coverage
Vision insurance plans are usually another add on insurance option. While many people choose to opt out of vision, this is not always the best idea. Vision insurance plans are usually very affordable, but if you do not have vision insurance and require vision care, you could be left paying thousands of dollars. Vision insurance is also important for corrective vision devices, such as glasses or contacts. Always look at the add ons when looking at healthcare plans, or even when considering a job. According to Glassdoor?s 2015 Employment Confidence Survey, 60% of people report that benefits are a major factor in considering whether to accept a job offer.
What services are covered
It is also important to know what services are covered, and what is not. If you require a medical procedure that is not covered, it could be helpful to have supplemental healthcare insurance. This is usually in the form of Medicaid or Medicare. Every single day, around 10,000 Americans (65 plus) enroll in Medicare for the first time. If your current employer?s health care plan does not meet your needs, consider applying for supplemental insurance, such as Medicare. It is also important to know which providers are covered and which are not, and to avoid going to out of network medical professionals.
Unfortunately, the United States is not known for its easy access to health insurance. If you are currently in the market for health insurance, it is important to pay close attention to what is offered. Look at specifics such as dental insurance plans, vision insurance, monthly premium costs, and what the deductible is. Consider price shopping medical insurance plans and always get supplemental insurance when your current healthcare plan does not cover all your medical needs.