Choosing a Health Care Plan

Ask the Expert

Q: How do I pick a Health Care Plan?

A: Choosing a Health Plan Step by Step
For many finding health insurance plan may seem like a tall order. The first step is outlining your needs across three major categories: cost, coverage and quality.

Determine the Cost
Don't just settle for the most affordable plan based on price alone. The trick is to find the most cost-efficient plan for your specific needs.

Gauge your general health helps you find the best balance between premium and deductible. For instance, if you are young and healthy with few medical needs, you may consider a policy with a higher deductible and lower monthly payments.

If you have specific health-care needs - such as preventative programs or specialized care - look for plans that financially accommodate those needs.

As you evaluate different plans with different deductibles, consider how much cash you typically have on hand. Make sure this amount is enough to cover the deductible - plus potential out-of-pocket expenses - in the event of an emergency.

Understand the Coverage Options
Prioritize your health care requirements, and rule out any plan with major shortcomings in coverage for those high-priority needs.

If you must go to a specific doctors or hospitals, find out which network they are covered under and consider your options from there. Or choose a plan that permits you to use an out-of-network provider.

A flexible plan may cost more - but may be worth it if you rely on specialized coverage.

Compare plans based on conditions you know you'll need coverage for - like prescriptions, future pregnancies or chronic illnesses.

Check the Quality of the Plan
Once you've gauged your cost and coverage needs, some quick quality-assurance checks can help you hone in even further.

Consult independent and non-government organizations - such as the National Committee for Quality Assurance - to obtain a ratings report for a particular health care plan.
Find out from your state insurance department what the "disenrollment rate" is for a particular insurance plan.

Ask how many patient complaints were filed against the plan you're considering, and how many of those were upheld by state regulatory agencies.

Do you have a question for one of our agents? If so, submit it to
tips@netquote.com. Your question could be answered in an upcoming newsletter!