Choosing a health plan can be complicated and confusing. You should consider your medical and financial needs – from coverage options to monthly premiums, to co-payments and deductibles. Also, take into account your family situation, your family’s anticipated health care needs and available plan options.
This is the time to assess your needs and identify your priorities so you know what to look for in a plan. We can help you understand how to compare health insurance plans and choose one that’s right for you.
Here are some important things to consider when choosing a plan:
- Plan category: There are five categories of Marketplace insurance plans: Bronze, Silver, Gold, Platinum, and Catastrophic. The health plan category you choose determines how you and your plan share the costs of care.
- Monthly premiums: This is the amount you pay your insurance company for your plan whether you use medical services or not. Monthly premiums are important, but they’re not all you need to think about.
- Out-of-pocket costs: It’s important to know how much you have to pay out of your pocket for services when you get care. You pay these out-of-pocket costs in addition to your monthly premiums.
- Type of insurance plan and provider network: Different plan types provide different levels of coverage for care you get inside and outside of the plan’s network of doctors, hospitals, pharmacies, and other medical service providers.
- Benefits: All plans sold through the Marketplace provide the same essential health benefits, cover pre-existing conditions and offer free preventive services.