Even though the new healthcare laws have made health insurance coverage easier to obtain, it can still be difficult when it comes to choosing the best plan for your needs. Health care is expensive, and choosing the wrong plan can leave you with considerable out of pocket costs. When choosing health insurance, there are some things that you need to consider before making your final decision.
Understand the Plan
All Florida health insurance plans from a website are not equal, so you need to make sure that the plan covers the things that you currently need, or may need in the future. Even though it is not possible to know what coverages you may need for your future health, the new laws have made these decisions much easier. All insurance plans are now required to provide certain essential health coverages, so you need to make sure that the plan you choose carries them. They are:
- Emergency medical services
- In-hospital and outpatient services
- Maternity care
- Newborn care
- Substance abuse and mental health services
- Pediatric health, dental and vision services
- Prescription services
- Laboratory and rehab services
- Chronic disease management
- Immunizations and other preventative care services
You can find all of the information regarding the specific services that are covered, as well as those that are not in the summary of benefits and coverage that is included with all Florida health insurance plan information.
Actual Cost of the Plan
When paying for insurance coverages, you need to be aware of the actual costs that you will be responsible for. The first cost is the premium, which is the cost that you will pay each month to secure the health care coverages. You will also need to make sure that you understand the amounts you will have to pay for copays, deductibles, and coinsurance charges.
The deductible portion of health coverage is the amount that you will have to pay out of your own pocket before the insurance benefits actually start paying for services. Most Florida health insurance plans provide you with different options for deductibles. If you choose a plan with a higher deductible amount, the monthly premium will typically be lower. If you choose a lower deductible amount, the premium costs will increase. If you currently have medical issues, you will need to make sure that you can cover the amount of the deductible you choose within a relatively short period of time.
Copays are the amounts that you will be required to at the time of receiving services. This amount varies from one health plan to another, so you need to make sure that you read the fine print to verify this information.
Another out of pocket cost is called coinsurance. The coinsurance of a plan is the percentage that you are required to pay for all medical services. While your Florida health insurance plan pays a certain amount of the medical service charges that you receive, you will have to pay a portion of those costs as well.
As you can see, there are many costs associated with health insurance. This means that you need to take the time to assess your own health needs, as well as the actual amounts that you will need to pay out of pocket while you have the plan. It is imperative that you read through the coverages of any plans that you are considering to make sure that you understand the costs and benefits entirely, before you agree to the terms of any particular plan to protect your finances and your health.