The rising cost of insurance in California is making it pretty hard for Californians to obtain and maintain health coverage. Thus, many people are constantly looking for affordable health insurance to pay their medical bills.
With so many plans and different plan tiers and benefits, it can be complex to determine the most suitable and affordable health insurance. When it comes to determining which health plan to select, premiums are only part of the puzzle.
Knowing just a few things before you compare plans can make it simpler.
Things to Consider Before Buying Health Insurance
- The 4 metal categories: There are 4 categories of health insurance plans: Bronze, Silver, Gold, and Platinum. These categories show how you and your plan share costs. Plan categories have nothing to do with quality of care.
- Your total costs for health care: You pay a monthly bill to your insurance company (a “premium”), even if you don’t use medical services that month. You pay out-of-pocket costs, including a deductible, when you get care. It’s important to think about both kinds of costs when shopping for a plan.
- Plan and network types — HMO, PPO, POS, and EPO: Some plan types allow you to use almost any doctor or health care facility. Others limit your choices or charge you more if you use providers outside their network.
Out-of-pocket expenses: Most health insurance plans come with several out-of-pockets costs. The deductible is the amount you’ll pay upfront before insurance coverage begins. Some preventive care services, such as immunizations and certain cancer screenings, can be exempt from deductibles, thanks to the Affordable Care Act.
Health insurance policies may also charge copayments and coinsurance once your deductible is met. A copayment is a flat fee for a particular service, such as a $30 charge for doctor visits. Coinsurance is a percentage of the total cost of care. One of the most common types of coinsurance found in health insurance policies is an 70/30 split. This requires patients to pay for 30 percent of the bill while the policy covers the other 70 percent.
Looking for a health insurance broker?
Skyline Benefit is an independent health insurance broker providing quality customer service.
Our licensed agents can go over your medical needs and budget, and help you determine the best health insurance option for you.
Under the current special COVID enrollment, you can still sign up for affordable coverage or change your existing health plans.
Call us today (714) 888-5116