Whether it’s through your employer or done completely on your own, acquiring health insurance can be a challenging process. Open enrollment recently ended, but that doesn’t mean you can’t prepare yourself now for the next opportunity. We hope that this blog post will make things a bit easier when it comes to choosing the best health plan.
How high is that high deductible?
Gone are the days when a health plan would cover all out-of-pocket expenses. It’s important to know that even H.M.O. plans may require patients to meet a certain deductible before coverage kicks in. That said, there isn’t an exact definition of a high-deductible plan. Plus, there are typically different deductibles covering prescriptions, a hospital stay, an emergency room visit, as well as routine care. It’s projected that an individual in the U.S. is responsible for more than $7,000 of health care costs in 2017, with families looking at double that amount.
Taking your savings and cash flow into account
High-deductible plans are not for everyone. For example, if you don’t have the savings or cash flow to pay for an unexpected trip to a specialist, an expensive blood test, or an M.R.I., you probably want to steer clear of high-deductible plans. Instead, you may want to consider a health savings account. HSA’s accumulate funds tax-free, allowing you to invest the money and use it for a medical rainy day should that time come. It wouldn’t hurt, either, to ask your human resources professional if they pitch in any money toward your HSA.
What’s really “free?”
A handful of insurance plans will fully cover some primary care doctor visits, preventive procedures, or flu shots. Try to figure out which services are covered with no out-of-pocket costs.
Save money where you can on your own
As part of an additional benefit, many companies are starting to offer telemedicine services as part of their health plan. In terms of cost comparison, these virtual consultations are an ideal alternative to what would be an expensive trip to your primary care doctor or urgent care.
Be a smart shopper
Keep in mind that there will be significant differences in price between an M.R.I. or going to a specialist instead. That’s why doing some comparison shopping could save you money with your health plan. Not to mention, you probably aren’t going to get a straight answer about cost from a hospital or doctor.
How Our Home Insurance Company Can Help
At Gutierrez Family Agency in Munster, we can help you save money on a variety of insurance policies, including home insurance, car insurance, life insurance, and other supplemental policies. One of our professional insurance agents can even set you up with pet health insurance to protect your favorite furry friends.
Don’t let other insurance companies harass you any longer with call after call. As a team of family-based insurance brokers, we can help you take advantage of the many discounts we offer our customers. We can even help you simplify all your insurance policies with bundling options.
Contact Gutierrez Family agency to get started.