When it comes to choosing the right health-insurance plan for you, you must ask the right questions no matter where the insurance coverage is coming from. Consider that having a baby can cost anywhere from $30,000 to $50,000, which is just as much as staying in a hospital for three days. By having insurance, you can get in-network discounts, as well as share the risk with others around you.
No matter where you’re considering purchasing the plan, three questions are extremely important to ask when it comes to choosing the right insurance plan for you and your family.
What Does This Particular Plan Cover?
Before 2014, different plans included different types of medical-care coverage and this might all change when the reform kicks in. Some plans that once covered mental-health care, maternity care or prescription medications might not cover them anymore.
However, with the new Obamacare act, every insurance company has to cover these essential services:
- Mental health and substance-abuse treatments
- Lab tests
- Emergency services
- Newborn care and maternity
- Prescription drugs
- Preventative services that cover many chronic illnesses
- Rehabilitation services
- Pediatric services
- Outpatient care
How Much Will I Pay for the Plan?
Cost is a big thing to consider for any health-insurance plan. Two things you should consider when considering the cost:
- The amount that is going to the insurance company each month, which is known as the premium.
- The amount you’re going to be paying for medical care out of your own pocket, which are known as deductibles, copays and coinsurances. These costs and expenses are needed for the plan.
You should consider your current state of health and which plan would provide you with paying less out of pocket, even if it costs a little more each month. If you’re in good health, paying less for your premium compared to paying more for out-of-pocket expenses might be a better choice.
Can I Use the Same Doctor?
Each insurance plan has its own network of participants. They have contracts with doctors and agree to pay them based on what their contracts state. If the doctor that you go to is not covered under network, then the insurance company might not pay for the plan or may require you to pay for a portion of the costs associated with your care. Check out the insurance company’s directory of providers prior to signing on with them.