Health Insurance is not as easy as going to Amazon and purchasing a book. There are questions you should ask of a health insurance expert who can best explain to you all the health insurance jargon and cut through all the red tape.
Here are 3 Questions to get answered before making a choice on a health plan:
- What are my options for keeping the monthly premium I have to pay at the most affordable price? First, if you have an opportunity for getting health insurance through an employer, that typically is your best option because the employer typically contributes 50% or more of the monthly premium thus making it more affordable than if you had to pay for it all on your own. Second, is to let your broker know your (or your family’s) annual projected income is for the upcoming year – this will determine if you are eligible for premium assistance through your state or federal marketplace. Third, determining whether it makes sense to go with a high deductible plan to keep your premium cost down while applying for an individual/family plan can help you save money at least on the monthly premium. Lastly, trying to figure out if a Health Savings Account (HSA) high deductible plan is best would require a conversation with your insurance broker and possibly your tax accountant.
- What is the best plan for me (or my family) and why? The proper way to answer this is by first understanding what you can afford, your needs and medical usage history. After discussing this with your broker he/she can advise you on choosing a Bronze, Silver, Gold or Platinum plan. One thing to consider is that each year during open enrollment you can make a change to a different plan if your situation changes.
- What information do you need me to provide you to help me enroll in a health insurance plan? Now days we need just the basic information such as names, address, birth dates, social security numbers, and if you are applying through a state or federal marketplace your family income and proof of residency are required amongst a few other questions.
I am a strong believer in finding a health insurance agent who you feel comfortable with, someone who will take the time to listen and give you advice and support to make the critical decision of choosing a health plan smooth and easy.
Dan Fortier is a Wellness and Benefits Specialist at Fortier Insurance Services. Dan helps individuals and small business optimize their health and wellbeing one small step at a time. He can be reached at firstname.lastname@example.org