Health insurance costs are on the rise, which makes it all the more difficult to find an affordable health insurance plan that doesn’t sacrifice coverage. To make this process a bit easier, we have listed 3 steps to follow that will help you find the right health insurance coverage.
Step 1: Prioritize What Coverage Aspects Are Most Important
No policy has everything, so inevitably you will need to decide what
health services you want and need and those that you can live without.
Questions to ask yourself:
1. Do I have a condition that requires ongoing medical attention?
2. Do I need to consult specialists?
3. Do I get a lot of dental work done?
Step 2: Choose Between Managed Care or Fee-for-Service
After deciding what services are essential to your health insurance
plan, you will need to decide what type of care you want to receive.
The level and type of attention that you require will play a big part
in the cost of your health insurance policy.
For example, if choosing your health care provider is very important to
you, then a fee-for-service plan might be the way to go. Unlike the
managed care plans that assign you a doctor, the fee-for-service health
plan gives you the flexibility to change doctors and health care
facilities. The fee-for-service health insurance premium covers you for
80% of your healthcare costs and then you are responsible for the
If you choose managed care, then there won’t be a lot of out-of-pocket
expenses except for co-pay deductibles. The premium is usually lower
for this kind of plan, versus the fee-for-service. The amount of
doctors that you can see is limited – as are locations – but your
health plan will likely be more comprehensive and include doctors’
visits, hospitalization, emergency care, surgery, and X-rays.
Step 3: Shop Around
Now that you know what coverage benefits are important to you, and the
type of care that you want to receive, it is time to start looking.
This means not only comparing the rates offered by different companies
and policies, but also taking into account the different deductibles
and co-pays that go along with them. Make sure it includes all
necessary coverage, and if it is lacking in a certain area, keep
looking until you find just what you need.