Explain What Is Most Important When Selecting A Health Plan
What is Most Important When Selecting a Health Plan?
Ilsa Porto
Palm Beach State College HSA4109
What is Most Important When Selecting a Health Plan? As the competition for healthcare providers, as well as the cost, increases throughout our nation, it has become more difficult for consumers to make knowledgeable choices about what health care plan they should purchase to protect their families. The heath care sector is highly dynamic and navigating within these complex systems can also add to the confusion. Consumers need easily available, accurate, and timely information, and it is essential to know how to interpret the information to assure that …show more content…
There are 5 categories of Marketplace insurance plans: Bronze, Silver, Gold, Platinum, and Catastrophic. The health plan category chosen determines how the plan shares the costs of care (Health Insurance Marketplace, 2014).
Monthly premiums. This is the amount that is paid to the insurance company for the plan whether medical services are used, or not. It needs to be affordable, but consider this; the lower the premium, usually the higher the cost of care, or vice versa. Monthly premiums are important, but they’re not all that is needed to think about (Abraham et al., 2011).
Out-of-pocket costs. It’s important to know how much will have to be paid out of pocket for services when care is given. These costs are paid out-of-pocket, in addition to the monthly premiums (Health Insurance Marketplace, 2014).
Type of insurance plan and provider network. Different plan types provide different levels of coverage for care given inside and outside of the plan’s network of doctors, hospitals, pharmacies, and other medical service providers (Gleick & Dowell, 1996).
Benefits. All plans sold through the Marketplace provide the same essential health benefits, cover pre-existing conditions and offer free preventive services (Health Insurance Marketplace,
Ilsa Porto
Palm Beach State College HSA4109
What is Most Important When Selecting a Health Plan? As the competition for healthcare providers, as well as the cost, increases throughout our nation, it has become more difficult for consumers to make knowledgeable choices about what health care plan they should purchase to protect their families. The heath care sector is highly dynamic and navigating within these complex systems can also add to the confusion. Consumers need easily available, accurate, and timely information, and it is essential to know how to interpret the information to assure that …show more content…
There are 5 categories of Marketplace insurance plans: Bronze, Silver, Gold, Platinum, and Catastrophic. The health plan category chosen determines how the plan shares the costs of care (Health Insurance Marketplace, 2014).
Monthly premiums. This is the amount that is paid to the insurance company for the plan whether medical services are used, or not. It needs to be affordable, but consider this; the lower the premium, usually the higher the cost of care, or vice versa. Monthly premiums are important, but they’re not all that is needed to think about (Abraham et al., 2011).
Out-of-pocket costs. It’s important to know how much will have to be paid out of pocket for services when care is given. These costs are paid out-of-pocket, in addition to the monthly premiums (Health Insurance Marketplace, 2014).
Type of insurance plan and provider network. Different plan types provide different levels of coverage for care given inside and outside of the plan’s network of doctors, hospitals, pharmacies, and other medical service providers (Gleick & Dowell, 1996).
Benefits. All plans sold through the Marketplace provide the same essential health benefits, cover pre-existing conditions and offer free preventive services (Health Insurance Marketplace,