Choosingand usinghealth insurance can be perplexing.
The conditions, procedures, and medical tests covered vary from plan to plan.
So do the financial details and your options whenchoosing a healthcare provider.
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More than half get their insurance from an employer.
About 37% of the U.S. population has coverage underMedicaidorMedicare.
If you have health insurance through work, reach out to the human resources department at your company.
They can help you compare plans both on-exchange and off-exchange.
Marketplace Search Tip
To find the exchange in your state, goHealthcare.govand select your state.
If you’re in a state that has its own exchange, you’ll be directed to that site.
In many cases, you also can enroll in Medicaid or CHIP throughyour state’s health insuranceexchange.
But most people have a few choices.
Your employer may offer a range of plans with varying coverage levels and monthly premiums.
For all coverage types other than Medicaid/CHIP, annual open enrollment periods apply.
How to Choose the Best Healthcare Plan
There’s no one-size-fits-all when it comes to health insurance.
The plan that will be best for you depends on a variety of factors.
Do You Have a Pre-Existing Condition?
Nor do they apply to plans such asshort-term health insuranceandfixed indemnitypolicies, which also still use medical underwriting.
One Plan or Two?
Do You Take Any Prescription Drugs?
Be sure to check theformularies(medication lists) of the health plans you’re considering.
Some states, however, have implemented limits on patient costs for specialty drugs.
Do You Want Care From a Particular Provider?
Do You Anticipate Expensive Medical Care Soon?
Paying a copayinstead of the full costfor a healthcare provider’s visit is advantageous in the short term.
Do You Travel a Lot?
You may want to consider apreferred provider organization (PPO)with a broad internet and solid out-of-internet coverage.
Is an HMO or PPO Better?
The difference can affect your decisions, especially if you are enrolled in Medicare coverage.
How Comfortable Are You With Risk?
Do you prefer to spend more on premiums every month in exchange for lower out-of-pocket expenses?
But beyond that, coverage for other types of care can vary substantially from one plan to another.
How Much Does Health Insurance Cost?
For 50% of the population (and their far lower costs) the per-person average was $385.
Do You Want a Health Savings Account (HSA)?
These plans cover preventive care before the deductible, but nothing else.
HSA-qualified plans have minimum deductible requirements along with limits on maximum out-of-pocket costs.
People who are retired have different needs than those who are young but unemployed.
For example, the Everest Reinsurance Company offers some of the best options overall for short-term coverage.
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