When choosing a health insurance plan there is much to consider. What benefits do you need? Which health care providers do you prefer to use, and which can you use? What costs are you comfortable paying? Do you have an emergency or “rainy day” fund to cover expenses in case of sickness, job loss, or economic downturn?
Many factors should be considered when deciding which policy best suits your needs. The right plan for you will depend on your health and your financial situation.
- Determine which benefits beyond the essential health benefits covered by all policies are most important to you and your family.
- Check the drug formulary for your prescription drugs and the list of network pharmacies when looking at your options.
- Check to make sure the providers you want to use are in the plan’s provider network.
- Weigh the costs of not only the premium, but also the deductible, coinsurance, and copayments for the plans you are considering.
The University of Maryland Extension has some great tools to help consumers be smart about buying and using health insurance. Contact Nora Rhoades at firstname.lastname@example.org or 785-346-2521 to access the resources available from K-State and other extension networks.
By: Nora Rhoades