Coverage and cost
How will I know how much I should be paying for my insurance?
You'll want to find a plan that works within your budget. When considering the total cost of your insurance, think about how your costs will add up over the year. Based on your own medical situation, you'll want to look at different things in each plan:
- Are you healthy? A plan with a lower premium may have a higher deductible, and higher copays for prescription drugs or doctor visits. Generally, people who choose plans with a higher deductible file fewer claims. But it's good to keep in mind that choosing a plan with higher deductible will also mean you'd pay a higher out-of-pocket cost, if you do file a claim. If you don't go to the doctor often or you don't take prescription medicines regularly, you could save money. A plan with a lower premium can save you money each month, but if you need medical help, you may pay more out-of-pocket.
- Do you expect to go to the doctor often? If you have a condition like high blood pressure or diabetes, you will probably visit your doctor a few times a year to track progress. You may want a plan with a higher premium and a lower deductible, as well as lower out-of-pocket expenses, like copays or coinsurance. That way, you'll pay less when you visit the doctor.