It used to be that health insurance plans didn’t necessarily cover well visits and preventive care. Now, however, certain basic services are required to be covered by all health insurance policies, including Medicare. In this video, I explain what is covered.
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Trying to figure out health insurance? Get my book Choose Your Best Health Insurance for detailed assistance on how to decide which insurance plan is right for you and your family.
I am a single mom of two beautiful grown daughters. Early on, I didn’t think much about health insurance. I assumed life would be fine, our family would stay whole and healthy.
Then one of my daughters was born with a life-threatening condition. Later, their father and I decided to divorce and I began to care for the children on my own. At that point, I had some hard decisions to make, one of which was how to make sure I was properly insured for my daughter’s health needs.
This is how life is. You often must make tough choices when you are least prepared. Here is what I did.
First, I recognized the importance of health insurance. My daughter was in and out of the hospital a lot. As a single mom, there was no way for me to pay for all of our medical bills or for the supplies we needed.
After reviewing my employer’s health insurance, I changed jobs so that we could have better health coverage. I was lucky to get a job at the hospital where many of my daughter’s doctors were located. Now there is the option of signing up for healthcare under the Affordable Care Act, but at the time, the only way for me to change health insurance was to change jobs.
At that time, I also had to take the risk that my new employer would refuse to pay for my daughter’s care because her condition might be considered pre-existing. Under the Affordable Care Act, you can change jobs and your new employer can’t refuse to cover care due to pre-existing conditions.
Next, I made sure that the doctors and hospitals taking care of my daughter participated in my new insurance plan. It was very important to me that she continue to receive the expert care that she needed with the providers who were already familiar with her case. By making sure those doctors and hospitals participated in my plan, I avoided overwhelming medical bills.
When I first started looking at new insurance plans, I was tempted to just look at the monthly premium cost. I was single mom with a new job, and that monthly cost represented a huge chunk of my paycheck. But my first priority was to keep my daughter’s doctors who had taken such good care of her. If I had gone with a cheaper insurance, I would have had to to pick new doctors or pay huge bills because those doctors weren’t part of my health plan. By saving $100 a month, I might have been signing up for $1,000s in uncovered expenses.
I’m happy to report that we received amazing care, and both of my daughters are healthy and grown. It was a tough time, but we made it through with great insurance and didn’t get saddled with a ton of medical bills.
When you have tough choices, it can be overwhelming. I know, I’ve been there. But with the right information, you can be have the peace of mind that you’ve made the right decisions for you and your family.
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Trying to figure out health insurance? Get my book Choose Your Best Health Insurance for detailed assistance on how to decide which insurance plan is right for you and your family.
Health insurance costs are important to many people because, after all, you have to fit it in your budget. Unfortunately, I can’t give you a clear dollar amount due to the range of plans — and therefore, prices — offered. Here is what I can tell you.
Insurance costs vary.
Costs are determined by your current health, age and income. If you are young and healthy, you will pay less than someone who is middle aged and has some health issues.
Check the premium costs vs. out-of-pocket costs.
It is important to not only look at the cost of the insurance premiums each month but also the overall costs of care. A $250 per month premium may sound expensive; it totals $3,000 per year. However, if you get sick or break a bone, your out-of-pocket costs associated with the plan or cash fees and penalties for not having insurance could exceed $3,000 cost with one hospital visit.
Compare prices.
The Affordable Care Act made it possible to compare the costs of the various health insurance plans being offered. Prior to the health exchanges, there was no easy way to know what the insurance plans cost and what was included. You had to be a PhD in healthcare in order to compare the various plans. Now, all the plans have to include the same basic services, and the prices for the various plans are listed on the health exchange.
Although, I can’t quote you an exact dollar amount, this information should make it easier for you to assess insurance costs to determine which plan is right for you and your family.
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Trying to figure out health insurance? Get my book Choose Your Best Health Insurance for detailed assistance on how to decide which insurance plan is right for you and your family.