3 questions when deciding health insurance for your family in 2020
posted by: Guest Blogger
The open enrollment period is here.
Now’s the time when new benefits packages are being shared with employees and families across Colorado. Making health insurance decisions for the year ahead can often be confusing and overwhelming. With premiums going up and more doctor bills coming, this is a big decision that shouldn’t be made hastily.
Here are some important questions to consider before you make your final decision.
- How do I decide what is the best insurance coverage for my family?
Time is typically limited when it comes to selecting the best health insurance plan to cover your family, but rushing and picking the wrong one can be quite expensive. The first step is to compare the available types of plans.From HMOs and PPOs to high-deductible health plans (HDHPs), the plan you choose will help determine your out-of-pocket costs and which doctors you can see. While some plan types allow you to use almost any doctor or care facility, most limit your options or charge more if you use providers outside their network.When making your comparison, be sure to look for a summary of health benefits and assess how they fit into your family’s medical needs. While predicting every health expense remains impossible, being aware of your health plan’s specifics can aid in selecting the best coverage.
After selecting your plan type, compare your physician and hospital networks, out-of-pocket costs and benefits to ensure the coverage you choose will pay for your regular and necessary care, like prescriptions and specialists.
- Why are regular health checks important and how are they covered?
Even if you or your family members feel healthy, it’s important to visit a doctor for regular health checks. Such checks can identify any early signs of health issues, and finding problems early means that your chances for effective treatment are increased. Whether checking for current or possible medical problems, staying up to date on vaccinations or maintaining your doctor-patient relationship, regular checkups are important in routine medical care. Check your potential plan to see what is covered for your health checks.
- How do I save money on prescription medicines?
From generic drugs that have the same active ingredients as brand-name medications to prescription discount cards, there are myriad ways to save on your family’s prescriptions.Compare your prescription plan copays, deductibles and generic vs. brand medication to find the cheapest price on your prescriptions. You may also compare those costs to a discount pharmacy card. Discount drug cards are free — and are used like prescription coupons to help save families money. Most cards provide pricing that is readily available on their platforms for all FDA-approved medications, making it quick and easy to obtain the information you need to make the right decision for your family.
In the end, choosing a health insurance plan for your family can be complicated. Knowing what questions to ask before you decide and doing some additional research can, in the end, make that process simpler.
Marianne G. Morgan is the CEO of Easy Drug Card, a Colorado-based company that has been helping consumers discover the best discounts on prescription medications since 2006. In partnership with Mile High Mamas.