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What’s the best health insurance?
Let’s face it, health insurance is a confusing topic. No one seems to understand it, but many people see the value in owning it.
What health insurance is the best to have and what features of a health insurance plan are the most important? Very common question to have, and as an insurance agent I come across these types of questions quite often.
When finding a quote for health insurance, whether it’s for a group or just for yourself as an individual, it’s always a good idea to note down the key components of the plan. Be careful not to fall victim to a pricing plan and only consider the monthly cost of the plan, as there are many other factors that can end up costing you a lot of money if you don’t have a good insurance plan.
So, let’s take a look at the 5 most important things to consider when shopping for health insurance.
1. Deductible
Deductible seems like a scary word to those who don’t understand it, but it boils down to what you need to pay the insurance company before they start donating to your health insurance costs. Be careful not to choose a plan just because it has a lower premium if the deductible is very high.
As an exampleYou take out a policy with low monthly premiums, but the deductible is $8,000 a year, if for anything the reason you get a doctor’s bill is less than that, you will be responsible for the entire bill, even if you have paid the monthly premium to the insurance company.
Low-deductible health plans are much more desirable and will result in insurance you can actually use, which is why we got insurance in the first place, right?
If you are really looking for an individual health insurance quote with a low deductible for catastrophic incidents and a $0 deductible for simple outpatient care and regular visits (which is phenomenal!) click here for a quote and I will personally find you the best coverage for you and your family.
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2. Maximum Bag Dispensing
Personal expenses in a health insurance plan are another very important factor to consider when buying a health insurance plan. What is meant by maximum spend out of pocket? This relates to what you, as the patient, will be responsible for paying in aggregate in any given year.
If you buy a plan that has a total out-of-pocket expense of $12,000, that means that no matter what happens or how much money in claims you end up spending, you will be responsible for $12,000.
Sounds like a lot of money doesn’t it? That’s why it’s important to consider a health insurance plan that has minimal outlay in the event of a disaster and you end up having to take full advantage of the plan.
A really cool feature of these individual health plans, is that they are life insurance benefits and AD&D coverage built right into the plan that ultimately cover most of the deductible as well as contribute to out-of-pocket expenses. Everything is built right into the package and is included in the monthly premium.
Learn more about this plan here!
3. Provider Network
Most people have heard of the terms PPO and HMO but have no idea what they mean. It is very important that when you are shopping for health insurance, you choose the one that will benefit you the most, and in most cases that will be a PPO.
What is HMO Insurance?
HMOs are very limited in terms of which providers you can and cannot see, and are also only good for local doctors and hospitals. If you end up traveling outside a certain network area, you won’t be covered at all… which means your insurance is worthless.
You also need to understand that while you may find hospitals that are in your HMO network, some doctors, anesthesiologists, gynecologists etc… may not be part of your network and without you knowing this information they will provide you with care but then the bill will reflect it.
What is PPO Insurance?
PPO insurance on the other hand is insurance that can be used at any doctor or hospital regardless of whether they are in or out of network. Finding an insurance plan that has a national PPO, is ideal as this will be your best bet when visiting any doctor or hospital.
PPO insurance is also great because you don’t need a referral to see a specialist. If one day you wake up with a skin lesion and you know it needs to be seen and treated by a dermatologist, instead of having to spend time and money first seeing a primary care doctor for a referral, you can go straight to the dermatologist of your choice.
GET A QUOTE HERE FOR THE BEST PPO HEALTH COVERAGE PLANS
4. Find a Package that Fits Your Current Needs
Everyone’s needs are different, so one insurance plan won’t suit everyone. Make sure you choose a plan that can be customized to suit your specific needs and will work for you and your family.
Budget is of course a huge factor, you need to be able to afford your monthly premiums to maintain the plan, but you also need to make sure you’re not paying for things you don’t want or need, or excluding things that are valuable to you. .
One example is a plan that includes built-in life insurance benefits. If you don’t currently have life insurance, this might be a good option for you to include in your plan; however, if you already have a very good life insurance policy that fully covers you, you may want to opt out of this inclusion.
Another example is if you are self-employed, or have your own small business, workers’ compensation benefits may be important to consider. Plans with job protection are available on the individual private market and can sometimes be an enjoyment of life for the insured himself. You can check out this plan with built-in income protection and benefits like workers compensation HERE.
5. Find an Agent You Can Trust
The market is saturated with insurance agents and brokers out there trying to get your business, but be careful you only work with someone who truly cares and has your best interests at heart.
As a licensed agent, I feel most satisfied when I can help someone navigate this confusing thing called health insurance coverage and put them in the best position, regardless of whether or not it’s a product I have access to.
I work closely with experts in the health insurance field to ensure every client I represent will get the best, most affordable plans and options to suit their specific needs. Saving people money for better and more comprehensive health coverage is what I do, so call up free quotes today or even if you just have questions about your current coverage and I’m here to help!
