Health problems can happen to anyone. It is better to be prepared for them. In the US, the government has created affordable health insurance plans depending on the state you live in. Although each plan may differ, the majority of these plans have the same stipulations.
The government has also passed the Affordable Care Act (ACA). Under this act, citizens will be allowed basic health insurance offered by the government. Moreover, it extends healthcare services for people who live below the minimum wage threshold level.
The Affordable Care Act only covers the basic insurance, so you must choose a plan that works best for you without paying exorbitant premiums.
Tips for Choosing the Best Health Insurance Plans
It is important to understand how these insurance plans work and what is needed to make sure that you enroll in the right one. Here are some things you should consider before buying an insurance plan:
When Are You Going to Enroll?
Many states have insurance plans open only till November. So, you can find a custom insurance plan in your state that fits your needs and budget.
The insurance plan may not cover everything, so select a plan that offers you the best value for the money. You can even ask for discounts depending on your tax credit history in most states.
Review Your Insurance Options
The ACA offers a basic healthcare insurance plan for those who can’t afford it. This doesn’t mean that everyone has to stay on the ACA plan. If you have a better insurance plan that covers operational, therapy, and treatment charges, then you can opt for that.
There is a website to find out if you are using the right insurance plan for your health. You can use this website to compare healthcare policies that are focused on primary medical care.
Calculate Your Yearly Payments
One thing people often don’t realize is that the yearly insurance plans are often available at a much lower cost than those where monthly premiums are charged.
Moreover, most insurance plans don’t cover the whole cost of treatment. In most cases, you need to cover half of the payment, and the rest is taken care of by the insurance company.
It is even better to search for an insurance plan that covers the overall cost after paying a set percentage of premiums. This way, you would know that your health insurance is taken care of.
Consider how much health care you use
Another thing to note is to consider your healthcare needs. For example, if you are picking an insurance plan that covers accidents, treatments, and serious operations, you need to figure out if that will be right for you.
Your age will also play an important role. At the age of 30, you have fewer chances of suffering from chronic illness and more likely to be in an accident. Similarly, at the age of 50, your insurance plan should cover the cancer diagnosis cost.
You can negotiate a custom plan with your insurance company, depending on your medical history, so that all the required treatments are covered in the plan. These custom plans are a little costly, but they offer more value for the users.
Search Thoroughly & Take Advice
It is advised that one shouldn’t settle for the first plan that they find because most plans are just too good to be true. You may be lured into buying an insurance plan with lower premiums on the internet. Just don’t fall for it. For better guidance, take the advice of an insurance broker.
Different Type of Health Insurance Plans
Here is a list of different health insurance plans that you can buy in every state.
Exclusive Provider Organization plans (EPOs)
First in our list is the Exclusive Provider Organization plans (EPO). It has a list of network providers to choose from for your health insurance. You can get all types of insurance plans with EPO, including the basic insurance and the cancer diagnosis insurance.
The only problem is that it works with only a few selected providers. So, in case of an emergency, you must visit the designated hospitals for your treatment.
EPO provides basic insurance in case of an emergency, even to the out-of-network providers. However, if the visit is not an emergency, it won’t be covered by the EPO.
Health maintenance organization plans (HMOs)
The second insurance plan is offered by HMOs. It offers you insurance with only a primary care provider. The reason HMO only offers a primary care physician is to keep the insurance premium low.
However, if the primary physician is not able to cover the treatment, they can refer to another physician covered under the panel.
High deductible health plans (HDHPs)
HDHP covers all types of health insurance plans. However, they require you to pay for the insurance plan upfront. HDHPs are a lot cheaper than other plans, but the upfront cost is still costly for many citizens.
Point of service plans (POS)
POS offers a flexible insurance plan in which your primary care physician is responsible for preventative care. If he/she refer you to a specialist, your POS policy will cover it all.
However, if you plan to visit an out-of-network physician, then you will have to pay a much higher cost to cover the service charges.
As you can see, there are a lot of health insurance plans to choose from. It will depend on the type of healthcare you will possibly need. So, evaluate each plan in detail and see which one offers the best coverage to you.
Alma Causey is a freelancer and blog writer. She writes articles related to technology and medical. A writer by day and reader by night. Her passion is to help people in all aspects of the research industry. Currently, she is associated with USHEALTH Group, Find her on Twitter: @Almacausey