Choosing a health insurance plan is one of the most important and complicated decisions you will make for yourself and your family. Below we offer you some useful tips to help you make the best decision for your wants and needs.
1. Compare Coverages.
Even though the Affordable Care Act has made many coverages mandatory in all health insurance policies, they can still differ widely in additional coverages. Carefully consider which plans and plan will provide the total package of benefits that best matches you and your family's current and immediate future needs. Remember that you will have to stick with the choice you make today until the next Open Enrollment Period. A year doesn't seem like a terribly long time, unless you spend it racking up costs for an accident or condition that's not covered or not covered in the way you thought.
2. Compare Networks.
As we discuss elsewhere, one of the big differences between types of health insurance plans is the network options provided. The size of the network and the area of coverage are two more important things to consider. As you examine the different plans offered, whether on or off the Marketplace, think about where you normally spend your time, which hospital(s) and doctor(s) you will want to use, and if the members of the network are conveniently located for your lifestyle.
3. Compare Affordability.
Okay, so this one is obvious, right? Maybe not! As you examime your options the natural choice is your lowest monthly bill. Unfortunately, unless you are fortunate enough to never have to use the insurance, that number is only the beginning of your real out-of-pocket cost of coverage. Be sure to also consider the deductible, the co-pays, the co-insurance percentage and the annual maximum out-of-pocket cost. Otherwise you could end up paying out way more on one visit to the hospital than you have "saved" all year by purchasing the plan with the lowest monthly premium. This can get complicated, so don't be shy about asking you Dan Burghardt Insurance representative to assist you in figuring out which plan is the most affordable for you.
4. Compare Plans.
There are several types of health plans available to choose from -- HMO (Health Maintenance Organization), PPO (Preferred Provider Organization), POS (Point of Service), HSA (Health Savings Account—also known as MSA—medical savings account), and traditional indemnity, which is becoming less common as it is more expensive than the other plans. Carefully compare the pros and cons of each plan, and consider which will be more beneficial to you.
The Dan Burghardt Difference
The main idea across all of these tips is COMPARE! Normally that means spending hours on the telephone repeating the same information over and over again to many different companies and agencies. But Dan Burghardt Insurance, by representing all of the major companies and plans available in your area, makes it easy. Call us now at (504) 441-7283 for a complete one-stop shopping experience.