Choosing a Health Insurance Plan

Health insurance is a necessity if you want to maintain your annual physicals, dental care, vision care, and more. Even if you think you don’t need to keep up with the basics, imagine how expensive it could be if you find yourself in a medical emergency and without insurance to help cover the costs. If you don’t already have one, now is the time to choose a health insurance plan. It helps to understand these basics as you begin shopping for the right plan to meet your needs.

Insurance Plan Categories

Health insurance plans typically come in four categories: bronze, silver, gold, and platinum. Bronze plans have the lowest monthly premium but also require you to pay 40% out of pocket when you need care. Platinum plans cost more per month but only require you to pay 10% of your medical costs. Plans still vary between agencies, so compare each one before signing up to ensure it meets your needs.

The Costs to You

Health insurance doesn’t cover everything, so it’s important to know what you can expect to pay for your medical care. Insurance plans typically mention a deductible, a copayment, and an out-of-pocket maximum. The deductible is how much you have to spend on your medical care before your insurance company pays for the rest. Copayments are the amount you need to pay per visit after reaching your deductible. Finally, the out-of-pocket maximum is the most you’ll spend on covered services per year. After you spend that amount, your insurance covers anything else.

Types of Plans

Insurance plans are divided into several categories other than the “metal” categories as well. The two most common are HMOs and PPOs. HMO plans use doctors within a certain network and won’t cover your services if you see doctors who don’t work in the network. These plans focus on prevention and overall wellness. PPOs allow you to see doctors in any network, but you’ll pay less if you stick to the PPO’s network. These are best for people who may need to see lots of specialists.

Before purchasing health insurance Lodi CA, be sure to thoroughly consider your options and needs. After all, you don’t want to overspend if you don’t need the plan, but underspending could be detrimental in the future, too.