Health Insurance 101: How to Maximize Your Coverage

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Having health insurance is more than signing up for the first affordable plan you can find. It’s important to evaluate available coverage and assess your financial situation to determine which insurance policy will meet the needs of your family.

The monthly expense of paying for health insurance is a valuable investment which could save you from losing your savings and assets to expensive medical bills in the future.

Jonathan Nolan
JPN Insurance

Factors to Consider When Choosing a Health Insurance Plan

Here are a few things to keep in mind when you are picking new health insurance coverage for yourself and your family:

  • Monthly Premiums: Consider your income and budget to make sure you will be able to meet the monthly premium costs. These premiums are the amount that you will pay to have access to the insurance coverage. If you miss a payment, then you no longer have insurance coverage.
  • Annual Deductible: Most insurance providers have set out-of-pocket limits you will need to pay. These deductibles vary depending on the type of plan you choose. For example, a high deductible plan means that you will pay more if a health incident occurs. But your monthly payments are lower. Families who only use health insurance in emergency situations often prefer high-deductible plans to reduce their monthly expenses.
  • Co-Payments: When you visit the doctor or a healthcare provider, they will ask for your insurance information. You can expect to pay a certain amount, which is your co-pay for the visit. This co-pay varies depending on your health insurance provider and whether you visit with an in-network or out-of-network provider.
  • Co-Insurance: People who anticipate high medical costs can benefit from co-insurance. Multiple insurance coverages means that you have a back-up option to help cover the extra costs that your main insurance provider doesn’t pay for.

As with other major purchases, there isn’t a one-size-fits-all solution for every family. When you are in the market for a new health insurance plan, it can be helpful to work with an insurance provider who will offer personalized recommendations to meet your needs. For more information, call JPN Insurance Services. We offer quality coverage from trusted health insurance providers: (951) 443-9925