Roughly 9.2% of Americans have no health insurance. Are you one of them? While many people will be able to keep themselves healthy without the need for a doctor, having medical insurance is crucial when it comes to protecting you against emergency health costs.
If you’re not covered, it’s time to start shopping for insurance. But how do you choose when there are so many options?
Let’s talk about it. Keep reading to learn three of the top factors you should consider when you’re choosing a new health insurance policy.
What type of coverage do you need from your health insurance? Health insurance coverage generally comes in different levels. At the lowest level, the monthly premium is generally lower, but deductibles and copays are higher.
At the highest level, the monthly premium is higher, but deductibles and copays are lower.
If you’re someone who doesn’t have much need for things like medications or frequent visits to doctors, a lower-level plan should be sufficient. If you know that you spend a lot of money on healthcare, you may want to invest in a higher-level plan.
Most young and healthy people can get by with a lower-coverage health insurance policy, but keep in mind that you’re taking a risk by choosing that option. In the event of a serious health issue, you may end up spending a lot of money.
Unfortunately, health insurance can be incredibly expensive in the United States. You want to choose a plan that fits within your budget.
As we mentioned before, different “levels” of coverage have different costs. Before choosing the most affordable monthly premium, consider how your healthcare costs will be affected by your healthcare plan.
For example, if your health insurance options are a plan that costs $300 per month or a plan that costs $500 per month, you may automatically assume that the $300 per month plan is better (and for many people, it would be).
However, if you have weekly physical therapy sessions that will cost $100 per session with the more affordable insurance or be free with the more expensive insurance, it makes more sense to choose the more expensive insurance.
Did you know that not all doctors will accept all health insurance options? That’s right. If you choose the wrong health insurance plan, you may not be able to see your favourite doctor anymore.
Some short term health insurance plans offer flexibility that allows you to see any doctor in the area. Most plans, however, have a small network of covered doctors.
Shopping for insurance can be a real challenge, but at least at the moment, it’s a necessary part of being an American. Keep these factors in mind when you’re trying to find the right health insurance plan for you and your family. Your health insurance will keep you healthy.
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