Health is the actual true wealth and thus, choosing a health insurance for you and your family is a decision that should be taken carefully. A good Covered California health insurance provides you with a sense of safety and peace of mind not just for you, but your family as well. Continue reading to know about some important tips that you should remember while buying a health insurance.
If you are looking to buy a health insurance for you and your family, there are many factors that should take into consideration, like your age, medical history, employment status, whether your employer offers a health insurance or you need to buy one for yourself, etc. But no matter what your situation is, the below-mentioned tips are sure to make the health insurance-buying process simpler for you.
Understanding the Technicalities
The technical terms used by insurance providers often confuse the buyers, especially if they are buying insurance for the first time. As a result, we’ve created a list of some of the most important terms that will allow you to understand health insurance plans easily.
Co-pay- Co-pay is that amount that you’ll b required to pay for doctor’s visits, prescriptions, etc.
Deductible- This is the amount that you need to pay from your pocket before your health insurance gets into the picture.
Co-insurance- This is the percentage of the total cost that you’ll be required to pay for the covered expenses.
It is highly recommended that if at all there is something that you don’t understand, make sure that you ask questions before buying the policy.
Professional Help from a Broker
If the abundance of choices is making it difficult to choose a Covered California health insurance, try to get help from an insurance broker. But before hiring them, make sure that you check their credentials from the National Association of Insurance Commissioners (www.naic.org) or National Association of Insurance Underwriters (www.nahu.org). Also, remember that a lot of insurance brokers work on commission basis, and they will try to steer your decision towards a policy that pays them the best. Make sure that you ask the broker whether he/she works on commission basis.
Comparing the Coverage
Since September 2012, insurance companies are required to make use of a standard format to make it easier for the buyers to understand the plan. Right from deductibles, co pays and co-insurance, everything is included in the form. Apart from this, the forms are also required to have a clear breakout f expenses that you need to pay from your pocket for two scenarios- if you are treating type-2 diabetes and if you are having a baby. Apart from the costs, make sure that you also have a look at the things that are included and excluded in the plan.
Understanding your Priorities
It will be much easier for you to find a plan that suits you best if you understand your priorities. For instance, knowing how much you can pay in a year if you need a plan to cover a particular medical condition, do you take any kind of medications on a regular basis, etc. The answer to these questions will make it easier for you to choose a plan.
While there are many other things that you should consider while buying a health insurance, the ones mentioned above can provide you with a head start in your journey to choosing a health insurance plan that suits your priorities.