Tips for choosing the right health care plan
With health insurance premium on the rise, it is vital to spend time to understand the options available to you in order to get the maximum coverage at the lowest price possible. If you are no longer under the employee sponsored health care plan or are looking for a new health care plan, the following tips will help you choose the right health care plan.
· Research and shop around
There are numerous resources available on the internet when it comes to choosing a health care plan. Therefore, before you take the plunge, do an extensive research on every plan that you may be interested in.
· The more the young children the more the doctor visits
According to statistics, the number of hospital and doctor visits depends on the number of children you have. This means if you have young children, consider a plan with more coverage.
· Read the brochures or health care plans your company sends
Most insurance company make amendments to their plans each year. Taking no action means you continue with the current plan which may have increased premiums or other changes that can adversely impact you. Therefore, make a point to always read through the annual open enrolment brochures and make any necessary changes before the closure of open enrolment.
· Do not buy too much insurance
Most company sponsored health care plans offer a certain level of free life insurance as well as accidental death and personal loss insurance. This is expressed as a multiple of your salary. But if you are young, energetic and health with no dependents, the free insurance will be sufficient. Conversely, if you have many dependents and have had health complications, it will be a good idea to get the maximum accident and life insurance you can get at the discounted rates.
· Know the participation status of your doctor
If you have a choice of health care plan, be sure to confirm if your doctor participates in the plan of choice to ensure that your visits are covered.
The more informed you are about health care plans, the more equipped you will be when making decision for yourself and family.”