Choosing the right health insurance plan allows you to minimize your healthcare costs throughout the year. Each person has different needs when it comes to their health and budget, so it’s a process that’s completely personal to each individual. To choose the option that’s best for you, it helps to understand the basic factors that go into determining the costs and levels of coverage.

Common Health Insurance Questions to Consider When Choosing a Plan

What recurring costs do you have to cover?

Your premium is the amount you need to pay each month to your insurance provider. Generally, the more you pay each month, the more healthcare expenses are covered. If you go to the doctor regularly or are concerned about excessive hospital bills, a higher premium may be worthwhile. However, those who incur few medical expenses throughout the year may want to keep their premium lower.

What will you have to pay for medical care?

There are expenses that come up as you receive medical care. For example, a regular doctor visit or prescription refill may come with a co-pay. You may also have to pay co-insurance on certain procedures or hospital stays. You should also find out the maximum you have to pay out of pocket for the year so you can make sure that amount is within your budget.

What type of care is covered?

Though you can’t predict what will happen over the course of the year, most people know their general health concerns. Before choosing a plan, make sure it includes the things you’re most likely to need. For example, if you require multiple medications, opt for a plan with sufficient prescription coverage. 

If you need dental and vision coverage, make sure those options are included. However, if you’re generally healthy, you may be most concerned about covering large hospital bills in case there’s an accident.

Are there doctor or hospital requirements?

Some insurance plans are part of networks, which means they’ll only cover visits to certain doctors or hospitals. These networks are generally fairly extensive, so it may not be an issue for some. However, if you love your current doctor or want to make sure the nearest emergency room is on the list, check those details before deciding on a plan.

If you’re looking for a new health insurance plan, the professionals at Toohey Insurance Service in Somerset, KY, can help. The insurance agency offers affordable health plans to individuals, small businesses, and seniors throughout the area. From employer group health insurance to Medicare plans, the team can help you understand the options and pick a plan that works for your needs and budget. Visit the website to see a list of options, or call (606) 678-0540 to speak with an agent.