3 Tips To Finding Health Insurance In California
O.K. You live in California and you need health insurance - sooner rather than later. Are you wondering how to begin?
It's not as simple as it may initially appear. It's not easy finding the time to do all the research and knowledge-gathering it takes to lock down a good insurance plan that precisely addresses your needs, circumstance, and budget.
Below are three tips for finding a great health insurance plan in California.
Good to know: Each insurance provider has a formulary or list of medicines covered by the plan. If a medicine is not on the formulary it may not be covered and you may have to endure a potential nightmare attempting to find an alternative medication. The list of covered medicines is also often divided into tiers, which determines how much of a copay or coinsurance you may have to pay. Make a list of your current medicines and compare it to the plan's formulary to make sure your medicines are covered and you understand the out-of-pocket costs that may be associated with them.
Tip #1: Compare different types of health care plans
There are several types of health coverage options that you may choose from in California. Even one that you may not be aware of:
A faith-based health
plan. A Faith-based health plan, (sometimes referred to as healthcare sharing plan), functions very much like a traditional health insurance plan. However, it is not
an insurance plan at all - at least not in a legal sense.
We will touch on all the health plan options available in the California region, below.
Health plan options In California Include:
- Traditional health insurance plans.
Traditional health insurance refers to health insurance plans that are offered via the Affordable Care Act (ACA).
Companies offering these plans include: Blue Cross Blue Shield, Aetna, Healthnet, Kaiser.
- Faith-based healthcare coverage (Healthcare sharing plans).
Faith-based, or healthcare sharing plans is the exponentially exploding new market. Their unique plan structure
makes such plans an intriguing and affordable alternative to traditional health insurance plans. Important note: You don't have to be religious to be covered by one. Companies offering these plans include: Aliera.
When reviewing your health plan options, be sure to take a close look at the summary of benefits of each plan you are considering. Most health plans summaries can be found online somewhere within the description of benefits on most any major health insurance plan website. If you don't see it, request it before applying for any plan. A provider directory, which displays the facilities and doctors
that are part of the plan's physician network, should also be readily available.
Also, when comparing various plans, make certain to pay serious attention to your family's current medical needs. Consider the cost and manner of treatment you have gotten in the past. Though it is not possible to foretell
every future medical circumstance, being aware of your family's medical history can assist you in making the right decision.
Good to know: Shop Generic Drugs. If you're looking to reduce your medical bills and reduce out of control medical spending, you can start by shopping generically. Consumers tend to think of generic options as less effective or even as harmful. This is not the case, however, when it comes to generic prescription drugs. Though these alternatives may not be as flashy as the name-brand drugs advertised on commercials, they treat patient illnesses just as effectively for only a fraction of the cost. You can increase your drug savings even more by shopping in preferred pharmacies or online at vendors such as GoodRx. These options allow you access to a wide range of generic and name brand drugs at lower costs. Preferred pharmacies take the extra step of reducing dispensing fees, saving you even more money on your next drug purchase.
For this reason, it's worth seeing if a preferred pharmacy network is included in your healthcare plan. If not, you may want to review your options and see if adding such a plan would benefit you.
Tip #2: Review physician / hospital Networks
Be sure to check the hospital/physician network of any plan that you are considering. Make certain the specific hospitals or doctors you desire, are participating in the network. The expense of utilizing a physician or hospital that is out-of-network, can be staggering. Insurance firms negotiate
with physicians and hospitals to obtain more reasonable rates. When you opt out of the network, those negotiated rates are not available to you. If you have personal doctors and you want to keep visiting them, make certain they are part of the provider network associated with your plan.
Tip #3: Compare out-of-pocket costs
Perhaps the most important part of any health plan is the amount you will be responsible to pay should a medical need arise. Make sure you have a clear understanding of what your plan will pay toward a medical bill, and what you will be required to pay. You need to be clear
on this issue for every significant medical circumstance. This includes office visits, x-rays and laboratory tests, emergency room visits, hospital procedures, stays, etc. Also, make sure you know the maximum amount your plan will pay toward all medical circumstance. Many plans have lifetime limits. Some plans have procedure limits. These
are things you do not want to learn of after you gone through a medical circumstance. You need to have pertinent knowlege concerning these issues before you purchase your health insurance plan. When it comes to finding a good health insurance plan in California, there is a lot you need to know. Talk to the experts. We are happy to help. Give us a call today.
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Explaining The Growth of Healthcare Sharing Healthplans