Keys to Finding Affordable Health Insurance
The Secret is Knowing What to Look For
It can’t be denied that health insurance premiums are rising every year. If your employer does not offer group health insurance or if you are self-employed, you’ll need to seek out individual health insurance. The good news is, you can still find affordable health insurance that meets your needs–if you know how to look for it.
It makes sense to begin your search for affordable health insurance by shopping around and getting several quotes from competing insurance companies before signing on the dotted line. NetQuote is here to serve that need and is designed to help you do it efficiently.
Indemnity Plans vs. Managed Care Health Insurance Plans
The first thing you’ll need to do is decide whether your most suitable choice is an indemnity fee-for-service) plan or a managed care plan.
- An indemnity plan lets you choose your own doctors and pays for your medical expenses, either 100% or in part, or up to a specified amount per day for a specified number of days.
- The most widely offered managed care plans are health maintenance organizations HMOs). HMO members must choose a primary care physician PCP) from among the HMO member physicians. The PCP provides general medical care and must be consulted before you can see a specialist, who must also be part of the HMO.
Managed Care is Usually Cheaper
In general, managed care plans provide broader coverage at a lower cost than indemnity plans. However, indemnity plans offer certain advantages such as the freedom to use any healthcare provider you wish.
Both can provide affordable health insurance depending on your particular situation, so be sure to carefully evaluate the pros and cons of each type of plan.
Factors to Consider for Your Health Insurance Plan
Here are some important points to consider when shopping for health insurance quotes:
- What co-payments, deductibles, and coinsurance payments are required?
- Can you choose your own healthcare providers?
- Does the plan cover the health services that you need?
- Does the plan cover the healthcare providers you’re currently using?
- Does the plan offer both individual and family coverage?
- Does the plan cover preexisting conditions? If so, is there a waiting period?
- Does the insurance company have a good reputation in the industry and a positive rating from a major ratings organization?
Remember, affordable health insurance can be yours–when you know what you’re looking for and how to look for it. Look to NetQuote for free quotes from health insurers near you.
More Ways to Save on Health Insurance
If you’re shopping for health insurance, it’s important to know common medical insurance terms and understand how they can affect your insurance premiums and the out-of-pocket expenses.
Health Insurance Deductibles
The most important thing to remember about insurance deductibles is that the higher the deductible, the lower your insurance premiums will be, BUT the higher your out-of-pocket expenses will be if you need medical care.
Health Insurance Co-Payments
An insurance co-payment is what you pay each time you visit the doctor. Some co-payments are as little as $10 or as high as $40 or more. If you have to make several doctor visits in a year, you may need to factor co-payments into your overall health insurance expenses.
Health Insurance Coinsurance
Coinsurance for a health plan is the percentage that you will pay for specific services, such as lab services, before the health insurance company pays for that service.
These are just a few of the ways that you can make insurance more affordable, but they aren’t appropriate for everyone. Make sure you take into account the needs of you and your family with every health insurance decision that you make.
See how easy it is to find a health insurance plan–get your free health insurance online quotes today!
