Open enrollment season is almost here, and that means it’s time to start thinking about your health insurance coverage. However, if you’re like most people, figuring out how to enroll in the best plan for your needs can seem like a bit of a mystery. Health coverage is a huge investment, and the right policy can make or break your monthly budget. Here’s a simple step-by-step guide to choosing your coverage this year.

4 Steps for Finding the Best Health Insurance

1. Choose the Right Marketplace

If you’re enrolling in an employer-sponsored policy, you’ll need to work with the benefits specialist at the company. They’ll guide you through the enrollment process. However, if you’re purchasing a policy on your own, you’ll need to find your marketplace. Each state has unique plans tailored to local doctors, hospitals, and cost of living.

2. Compare the Plans

In the marketplace, you’ll see a wide range of plans, each with their own deductibles, coverage limits, and benefits. Before you make a decision, take the time to go through the different plans and understand your options. Catastrophic coverage is meant to protect you in the event of a major accident, but is not ideal for regular treatments. Bronze plans have high deductibles and lower premiums. Silver plans have higher premiums but offer lower deductibles. Gold plans typically cost the most each month, but have the lowest deductibles, making repeat treatments more affordable upfront.

3. Compare Networks

Unfortunately, not all physicians are covered by every plan. If you have a doctor you love, you’ll want to select an insurance policy that works with them. By looking for a health insurance network that works with your preferred doctors, you’ll end up paying less out-of-pocket for appointments and treatments. Doctors outside of the network can still treat you, but you’ll pay a premium for the appointment.

4. Assess Your Needs

Before you pick a policy, make sure you understand your insurance needs. Look at your monthly budget and decide how much you can afford in premium costs, out-of-pocket deductibles, prescription medications, and anything else you might need throughout the year. Then, compare the plans based on this information. The last thing you want to do is purchase a policy that you can’t afford or won’t end up using.

Choosing the right health insurance plan doesn’t have to be difficult. Let the experienced agents at Toohey Insurance Service in Somerset, KY, help you find the coverage you need at a price you can afford. Whether you’re looking for coverage for yourself or want to explore policies for the entire family, they’ll help you meet your needs. Since 1983, their agents have worked with residents and businesses across the greater Tri-State area to protect the things you value most. Learn more about their insurance options online and call (606) 678-0540 for a free quote today.