The window for Open Enrollment is now open, and now is the time to get some thought to your health insurance policies. Although it can seem time-consuming and downright confusing, securing the right health insurance is essential if you want to have peace of mind that your finances are covered in the event of a health disaster. Even if you are happy with your current health insurance plan, it’s a good idea to take another look. It’s possible that some aspects of your current plan will have changed, and you should be prepared to find suitable coverage. To help you find the right policy for your needs, keep in mind these questions to ask when buying health insurance in Queens, NY.
Questions to Ask When Looking for Health Insurance
- What type of plan is it?
Most health plans fall into one of the two categories: Copay-based plans or Health Savings Accounts (HSA). While copay plans typically cost more per month and have lower deductibles, HSA plans have cheaper monthly costs and higher deductibles.
- How much will I have to pay for medical care?
Take a look at the premium. Once you have a figure, then ask whether you will be charged a co-payment, a small flat fee, when changed for health care services. Some plans have a deductible instead, which is the amount you must pay before the policy starts to cover medical costs.
- How much is the deductible?
If your plan has a deductible, find out what it is. If your deductible is $3,000, you will need to pay the first $3,000 for your medical costs before your insurance company will start contributing to your expenses. Be sure to research what costs count toward the deductible so you are prepared.
- What is the out-of-pocket maximum?
The out-of-pocket maximum is the most you can expect to pay before your health expense are covered in full by your insurance plan. Your deductibles, coinsurance, and copays all count toward the maximum. However, monthly premiums do not. If you are expecting a year with very high health care expenses (such as having a baby), then the out-of-pocket maximum is an important factor in selecting a health plan.
- What are the plan’s restrictions on pre-existing conditions?
If you have a chronic condition, the policy may not cover related medical costs for a period of months – or, perhaps, ever. Be sure to ask for how long, if at all, pre-existing conditions are excluded.
- What happens when I’m away from home?
If you need to go to the doctor while traveling, you should be aware of what costs will be included and if you will even be able to receive coverage.
- Are my preferred doctors and hospitals in the network?
Keep in mind that the price for out-of-network care can be extortionate. If you have a preferred hospital and/or doctor, double-check to ensure they are in-network to keep your costs lower. If not, you may need to find new providers or pay the high out-of-network costs.
- Is there a better plan out there for me?
Plans are always changing. Reevaluate your needs and look into options every year. You never know if a plan is better suited to your needs until you look.
Ensure you have the right health insurance that suits your needs and budget. At Northeastern Group Ltd. we can tailor coverage to better protect your health and pocket. Serving New York, New Jersey, Connecticut, Pennsylvania, Georgia, and Florida, contact us today.
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