It’s one of the most important decisions you’ll make this year…
…and data says 7 out of 10 people have no idea how to understand health insurance quotes.
Choosing your health insurance coverage is a decision that you’ll have to live with for the next 12 months, and a decision that could potentially cost you a significant amount of money if you pick the wrong option. So, how confident do you feel about picking a plan this year?
Recent research data suggests that you probably fit into one of three categories:
A: You’re pretty confused and have no idea which plan to choose
B: You feel like you have a good idea which to pick but really don’t know
C: You know enough about comparing plans to find the one that best fits your needs
Only 30% of the US population fit into option C, which leaves 70% of American’s with little or no idea about picking a plan that’s optimized for their lifestyle. To be included in category C you should know the answer to the following without asking Google or guessing:
1. What is a Deductible?
A: The amount you have to spend on all healthcare costs before your plan kicks in
B: The amount you have to spend on covered healthcare costs before your plan kicks in
C: The healthcare costs you can deduct from your tax return
D: The amount you’ll pay for your plan each month
2. What is a Premium?
A: The amount you’ll pay to get better coverage
B: The amount you’ll pay for your plan every month
C: The amount you’ll pay for your plan during the months you use healthcare services
D: The best plan coverage
3. What is a health insurance formulary?
A: The form used to calculate your care costs
B: An authorization form your doctor sends to the insurer
C: A list of prescription drugs your plan will cover
D: A list of covered healthcare services
4. You have a $2500 deductible and a $100 per day hospital copay. If you spent 5 days in hospital and received a $5000 bill what amount of the costs would you be responsible for?
5. All plans:
A: Charge the same amount for each prescription drug
B: Cover all prescription drugs
C: Cover all prescription drugs and charge the same amount for each drug
D: Do not cover all prescription drugs
Correct answers: 1: B, 2: B, 3: C, 4: C, 5: D
If you got all these questions correct you’re one of the minority of Americans that fall into category C. You have a reasonable understanding of health insurance and could make an educated choice when choosing a plan. You can get quotes here to get started. If you didn’t know all of the answers you’re most likely an A or B and could use some extra help to ensure you don’t spend more than you need to on health care this year.
If this is the case, how do you go about finding a plan that fits your lifestyle and your budget?
What to expect from a health plan that fits your needs
Let’s talk about what a health plan should be; it should be a safety net for you and your family protecting you from high healthcare costs and providing you with access to great care. It should be easy to use and there when you need it and. Just like a good partnership it should be there through better or worse and in sickness and health. Pretty simple so far, right? Let’s take it to the next level…
It should be affordable and offer the best care and cost-sharing for your healthcare needs. This is where things get a little more complicated; how do you find a plan that best fits your lifestyle and your budget?
Taking the edge off rising premium cost by choosing the right plan
Most media outlets have covered the rising cost of Obamacare health insurance and it’s true that most people in 2017 could see a rise in their premium cost. Although you may be able to offset premium costs with tax subsidies you should also be looking for other ways to minimize your healthcare costs. This doesn’t mean choosing the plan with the lowest monthly cost, as comparing by plans by premium price alone can be misleading. What this actually means is enrolling in a plan that offers the lowest combination of premium cost and care cost. To do this you’ll have to do a little research, or ask for help.
Your enrollment options:
Shopping and enrolling online
One of the great things about our digital world today is the amount of health insurance information that can be found online. If you have time to learn about health insurance and how it works, then all the information you need can be found on our website. You can start with the basics here.
Talking through your needs with an expert
Too many choices can be overwhelming! With access to many health plans, choosing which one is right for you can be harder than ever. That’s why, even in today’s technology focused world, speaking to a knowledgeable person is extremely valuable. You shouldn’t be afraid to ask for expert help. Getting advice from someone who knows health insurance inside and out is one of the quickest and easiest ways to find a plan that fits your needs. That’s why at HealthMatchup we’ve taken things back to basics with a dedicated phone line to help consumers with questions. No long forms to fill in, no automated menus, just a one and one conversation with an expert who can guide you to affordable coverage that fits your specific needs. For help finding a plan, call 8008332857.
With rising healthcare costs, shouldn’t you make sure you’re making the right choice?