Choosing your own health insurance plan can feel overwhelming. Whether it's your first time picking a policy for yourself or you just want a change from your current coverage, you might not know what options are best for you and your family.

Date:   9/17/2022 10:17:03 PM ( 26 mon ago)

Choosing your own health insurance plan can feel overwhelming. Whether it's your first time picking a policy for yourself or you just want a change from your current coverage, you might not know what options are best for you and your family. Healthcare plans will list many different details in their policy summaries, but you actually need to focus on only a few choices.

In this article, we'll go over the key decisions you need to make to choose a healthcare plan that will be right for you.

Federal or Private Healthcare?

The first choice to consider is if you qualify for federal healthcare options such as Medicaid or Medicare. These plans are created to be affordable for their target audience and assist with common issues faced by that demographic.

Medicaid is the U.S. government's plan that assists people with financial needs. You have to meet certain income requirements and you cannot have access to insurance through your employer to qualify for Medicaid.

Medicare is a federal health insurance plan for people aged 65 or older. Most people leave their private health plans and transition to Medicare when they turn 65 because it often saves them money. Medicare has different plan options to suit your needs and an optional prescription plan, as well.

If you don't qualify for either of these federal plans, then you'll need to find a private insurer. You should be eligible for insurance through your employer, in which case the insurer will be chosen for you and you can choose from a list of plan options. If you don't have access through your employer, you can use the Healthcare Marketplace website to find your healthcare plan.

Types of Care

The next step is to decide what types of care and payment options you need to feel secure in your healthcare policy. For example, if you know you'll be looking for long term care Washington state when you're older, you'll want to find a policy that offers long-term care coverage.

There are a few key care types to consider as you evaluate plans:

• primary care physician

• emergency room visits

• ambulance rides

• specialist visits

Consider which of these services you may need in the coming year and find a plan that addresses the care you'd like to have access to.

Payment Options

You'll also want to evaluate how much the plan pays for each type of care and how much will come out of your pocket. There are two main systems health insurance uses when it comes to paying for care:

• Copay: When you choose a plan with a copay, you will be charged a set amount for each type of care you receive. The amounts will be outlined in your policy so you can plan ahead for doctor's visits. If there is any remaining balance from the visit that your insurance does not cover, you'll be billed for that amount. This is often a good choice for people who don't spend much money on healthcare or who prefer predictable payments.

• Deductible: With a high deductible plan, you pay 100% of the costs until you reach your deductible. After you reach your deductible, the plan will kick in to pay a percentage of the costs based on the level of coverage you have. Your coverage type is classified into metal levels, with bronze being the lowest payout and most affordable, and platinum being the highest payout and most costly.

• Bronze: 60% 

• Silver: 70% 

• Gold: 80% 

• Platinum: 90% 

Dental

This is something many people forget about until they're trying to finally opt into their health plan. There's always the option to add on dental coverage. Most dental plans are fairly inexpensive and cover routine dental visits and cleaning. Decide if you want to add dental before you start searching for health insurance so you can evaluate your options.

Finding the right health insurance for you and your family can be overwhelming. Focus on these smaller decisions to choose the perfect plan.

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