Need Health Insurance? Ask Yourself These Essential Questions First

health insuranceAccording to the CDC, there were 28.6 million people without healthcare insurance in the U.S. in 2016. Needless to say, healthcare is an essential component of overall wellbeing. There are many different types of insurance, and before you choose the right plan and provider for your needs, you need to understand what it is you hope to get out of your healthcare plan. With that in mind, here are just a few important questions to ask yourself before choosing a health insurance plan or provider.

What is your budget?

According to the 2015 Insurance Barometer Study, those with no life insurance think its three times more expensive than it actually is, and this is often the case with health insurance as well. It’s sometimes difficult to think about your budget in regards to healthcare, so just consider how much cash you have in the bank.

“If you have several hundred or thousand dollars in cash, you might not have an issue with a high-deductible plan…However, if your budget is tight and you expect youll be using your health insurance a decent amount next year, a plan with bigger premiums may make more sense,” writes Jonnelle Marte onThe Washington Post.

How often do you typically get sick?

If you’re dealing with a chronic health issue or you’re generally prone to illness, it may be better to invest in a plan with bigger monthly premiums because it will cover a larger portion of your medical expenses. But if you don’t get sick all that much, you may be able to get away with a plan that has a lower premium.

Do you want to keep your current doctor?

Finally, it’s important to consider whether or not you’re okay with the possibility of needing a new doctor. If you’d rather avoid the potential hassle of getting a new doctor, you’ll have to choose a plan that’s in your current doctor’s network. This may be the best option if you need group coverage and have children who have grown comfortable with their current doctor.

Ultimately, asking yourself these questions is the key to choosing the right health insurance plan for your needs. For more information about insurance companies, contact Farmers Union Insurance.