3 Things to Consider Before Choosing a Health Insurance Provider

If you need medical attention, you will have peace of mind if you have health insurance. A health insurance policy may also cover long-term care, disability, and other expenses in addition to medical expenses. It is important to do your research before taking out any insurance policy to ensure that you are getting a policy that matches your family’s needs as well as your own.

Deciding which health insurance policy to buy can be a challenging task. The confusion can in fact lead to the consumer taking out the wrong insurance policy, and, in turn, this will be costly. Read on for advice on making the right choice.

Can you use your preferred doctor or specialist?

Insurance companies refer to this as continuity of care, it basically means that you are eligible to continue using your current health care provider. This is particularly important if you have an acute or chronic illness, are terminally ill, or are in the third trimester of pregnancy. When you apply for this, your request will be reviewed and if approved, you will be able to continue to see the healthcare provider of your choice.

Deductibles, co-payments, and co-insurance

How you pay for the care you receive at the doctor’s, pharmacy or hospital will depend on the cost-sharing details in the policy. You need to know what they mean so that you fully understand how your insurance works.


Deductibles: Prior to your insurance plan beginning to pay for covered services, figure out how much you pay for medical care. You would be responsible for paying the first $1,000 of covered services if you had a $1,000 deductible.

Co-payments:After you have paid your deductible, you pay a fixed amount for a covered health care service.

Coinsurance: The percentage of costs covered for a health care service that you will pay after you’ve paid your deductible.

Which plan is right for you?

With co-payments, you know exactly how much you will have to pay out of your own pocket should you need to make a claim. co-payments are almost always less expensive than the percentage amount you would pay if you opted for co-insurance. For example, if you have medical expenses and it costs $5,000, if your co-payment is $100 that’s all you will have to pay. If your co-insurance is 10% you would have to pay $500. A plan with co-payments usually works out better than a plan with co-insurance.