With the increases in health care, it is very important to have health insurance coverage for you and your family. Many people have ended up in financial difficulty when faced with medical issues without having adequate insurance.
There are many options for health insurance, so it is important to do research to determine which is the best for your family. If you are employed by a company they may offer a group plan that may be less expensive than having insurance on your own. If you are self employed, you will need to have your own health insurance, you may be able to find a group plan that will be less expensive. If you are starting a new job, you may need a temporary policy of your own until the coverage at your new job begins.
If both members of the household are employed and both employers offer insurance, it would be advised to research both plans to see if it would be better to have a family plan with one of the employers instead of each having separate insurance coverage.
If you have a pre-existing condition, it may be more difficult to get health insurance and the premiums are likely to be considerably higher than if you did not have the condition.
Other factors to consider are the deductible and co-payments. Usually, the higher your monthly premium, the less you will pay per doctor’s visit in co-payments and deductibles. If you don’t usually visit the doctor very often, then you are likely to qualify for lower premiums if you choose a higher deductible. On the other hand, if you and other members of your family make regular trips to the doctor annually, it may be better to choose a lower deductible.
Some insurance companies utilize provider networks. If you prefer specific doctors or hospitals you will need to make sure they are in the network that your insurance company works with. Also, with some insurance companies you will need to get a referral before seeing a specialist.
If you take a number of prescriptions, it may be worth the extra cost to have a policy that covers a percentage of your prescription costs. The same is true with vision and dental insurance if you spend a considerable amount on these costs annually.
Having health insurance coverage is very important, but it is also important to have the policy that is best for your circumstances.