Buying health insurance for the first time? You might be feeling overwhelmed by all the different choices, options, and insurance companies that are out there to choose from. If you are lucky, then you can get health insurance through your employer. That may, or may not, be the best health insurance for you, though. There are certain things to consider before you buy a health insurance policy.
The first thing you should do is take a close look at your budget. How much can you reasonably afford to pay each month for health insurance coverage? This gives you a “ball park figure” that will help narrow down some of the choices that are out there. You can either afford the premium, or you cannot.
Keep your budget in mind when you become eligible for your employer’s sponsored health insurance plan. Can you realistically afford to have the cost of the premium removed from your paychecks? If that is going to be too much of a financial hardship, then you might consider looking at other plans.
You should get quotes from several different health insurance companies. This will allow you to more easily compare what it would cost to get health insurance from each company. Hopefully, you will find more than one that offers a monthly premium that you can afford.
If you already have an auto insurance policy, or a homeowners insurance policy, this can be used to your advantage. Some insurers will offer a discount on at least some of your insurance plans if you purchase everything through that one, particular, insurer. You might consider this a reward for being such a loyal customer. This discount could open up options that you were unable to afford before.
Once you have narrowed down your choices to plans that you can actually afford, it is time to take a closer look at exactly what each plan covers. Does the plan cover the prescription medication that you are currently using? Will it cover vision and dental care as well as medical care? Not all of them will.
If you are planning on having a family in the next few years, it would be a good idea to make sure that a potential health plan covers maternity care, (as well as pre-natal and post-natal care). If you are using alternative medicine, (like massage, or acupuncture), you need to see if the health plan covers it.
What extras does each health plan offer? Some come with helpful mobile apps. Others might allow you to do online payments, (which many people consider to be incredibly convenient). A few will cover the cost of your gym membership.
Does the health insurance plan come with a network? If so, then you need to find out if the doctors, specialists, and hospitals that are part of that network are located close to where you live. If they are far away, this could make it more difficult for you to stay “in network” and get everything covered that you expected would be covered.
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