The Big 3: Three Important Aspects to Consider in any Health Insurance Plan

Three Important Aspects to Consider in any Health Insurance Plan

 

One size fits all is definitely not the case when it comes to health insurance. Here are three things to consider when thinking about what type of plan you may want to invest in. 

 

Your Budget: when looking at your budget, make sure that you consider a plan that best fits your financial needs. Would a plan that has a higher deductible makes sense for you? What about one that involves a coinsurance? Plans with a higher coinsurance may tend to have lower monthly premiums -- but that’s because you’re taking more risk. 

 

Your Lifestyle: If you tend to require more medical attention, like if you play high impact sports, have a job that requires a lot of physical risk, or are likely to become ill, consider getting a plan with a co-pay instead of one with a high deductible. That way if you have frequent visits, you know what you are going to be expected to pay. This will end up saving you money, and provide you with peace of mind.

 

The Plan’s Network: If you have children, you may want to look at a plan that has a top-notch children’s hospital. You should pay attention to where the providers are located as well. It may not make much sense for you to have a plan whose network has few doctors within a 25-mile radius of where you live. You should also see if there is out-of-network coverage. Although you may try your hardest to not go to anyone who is out-of-network, you may end up in a situation where you are at a medical facility and one of the medical personnel was actually not covered by your insurance network. This means, depending on your plan, you may have to pay for all of your services out of your own pocket. Having a plan that offers some out-of-network coverage may help alleviate this expense if it were to occur. 


Health insurance is a very personal decision that’s why it’s key to have personalized healthcare plans for your specific needs. Consider these particulars when enrolling for a new product. If you’re interested in seeing the best personalized healthcare options for you click here.