Shopping for the perfect health insurance for your family could be one of the most daunting tasks you could ever do, no wonder most people will leave it as the last point in their to-do list. It is important to realize that shopping for a health insurance plan should be a number one priority as an unwise decision could cost you a lot. The following tips will help move this low-priority in your life to top on your list.
First and foremost, just how important is it for you to remain with your current medical practitioner? Perhaps one of the most critical questions that will guide you when choosing a health insurance plan for your family is how happy you are with your current practitioner. If you are happy, you should then establish the network they are in so you can be certain the health insurance service provider that you are considering has coverage in your doctor’s clinic and stuff. If you are after a short-term medical insurance cover or a high deductible one with options of up-front out of pocket expenses, rest assured you are better off with your current service provider. If you are not sure whether your doctor’s clinic is covered in the network, simply contact them for more details.
The second important tip is to consider the amount it will cost you for a year, the amount of out-of-pocket expense you can raise, whether there are any deductibles involved, whether there is co-insurance, and such things as co-pays. These are very important questions to seek answers for so you can be able to clearly understand the cost you will be expected to pay by the end of the year. The best way to establish this is to compare the current year with the past one, how often did your family visit a doctor? What were the reasons for the visit were there any specialist visits?
Still on point, you should factor in the amount of deductible that you can comfortably pay. Deductible is basically the amount of cash you can raise each year before your insurer pays the remaining amount in your claim. Note that your co-pay i.e. the amount of money you pay to your doctor for each visit is channeled towards your annual deductible. After you raise your deductible, note that you will go on paying a certain percentage for each bill, otherwise known as co-insurance, until the day you will meet your annual out-of-pocket amount. This is the reason why you need to consider the amount of money you will be comfortable paying out-of-pocket every year.
The last thing to factor in is whether the insurance plan covers prescription drugs among other services. Establish the kind of services the policy covers and whether or not there are limits on the number of days your insurer will pay for the mentioned services. With that being said, you should create a detailed list of services that are important to your family, such as surgery, immunizations, prescription drugs, well-baby clinics, etc. Needless to mention, you should compare each health insurance plan with the services being offered, the plan that covers most of what you need at the most affordable rate could just be the one for you.