How do you choose the right health plan without spending hours poring over plan descriptions? One way of doing this is to compare online quotes from a few different companies. The reason this makes so much sense is that you can enter all of your pertinent information into a database and query the system for quotes from companies who can meet your needs. Then, it’s just a simple matter of choosing the best plan at the most competitive price.
Start out by requesting quotes from a few different companies. This will give you a snapshot of what each company offers, including the monthly plan premium, deductibles, coinsurance and prescription drug plans. While it may be tempting to select the least expensive option, it’s also important to take your individual needs into account. You will also want to check and see if your doctors participate in the plan and that the out-of-pocket maximum isn’t too much for your family budget. For example, if you expect to be going to the doctor often, or you will need several prescriptions filled on a regular basis, it is probably best to go with a plan that offers low copayments and discounted prescriptions.
In addition, be sure to look at what the plan covers. Some inexpensive or catastrophic health plans exclude maternity care, while others may have higher copayments for physical therapy and outpatient psychological treatment.
Working with an experienced Arizona health insurance broker can save you a lot of time and money. Even if you start out by getting online quotes, a broker might know about other plans that offer the same coverage at a lower monthly rate.
Choosing the best Arizona health plan for your family
If you are searching for an Arizona health plan, you may be running into several companies that just want to sell you a “cookie cutter” premium plan, but not all customers need that type of plan. What many people don’t realize is that health insurance companies offer several different price points, based on the amount of risk you are willing to assume.
One advantage to buying individual health insurance is you don’t need to buy a pre-packaged plan like the ones offered by most employers, and thanks to the Affordable Care Act you will be able to find a budget-friendly plan that meets your needs. If you are self-employed and relatively healthy, look for a plan that allows you the flexibility to pay lower premiums in exchange for higher deductibles. This type of insurance can save you thousands of dollars per year. The only risk is that you will be responsible for either high premiums or co-insurance if you are hospitalized. If you opt for a Health Savings Plan on top of a low-cost/high deductible policy, you can put money aside; pre-tax, to help you cover the cost of high deductibles or co-insurance.
Make sure the medical insurance plan you choose allows you to access a national network of hospitals and doctors. Most inexpensive plans will give you a better price if you stay within their network, but will still allow you access to non-network providers when necessary. The most important thing is to find out if your current physicians are listed as network providers. If not, you may end up paying a lot more for their services.
If you are between jobs or need a temporary insurance until a spouse’s insurance begins, don’t overlook a short-term policy. This could be just the solution, and will probably cost less than traditional coverage. Most plans are available in increments of 1 to 6 months, or 1 to 12 months, with the option to reapply for more coverage if needed.
As you begin the search for Arizona health insurance companies, these tips will help you find a plan that meets your needs, without spending more than necessary.