Health insurance is not something you should purchase without carefully reviewing the plan. It is often better to work with an experienced agent who understands Health Insurance in Oklahoma City and can match your needs with a policy that can meet them as closely as possible. Consider these five things before you buy a policy:
Individual or Family Plan
Depending on the ages and health status of the members of your family, costs can vary widely on individual and family health insurance policies. You may save money by purchasing a separate plan for each member of your household versus a family plan. Be sure to have your agent check the prices on all of your options.
Covered Physicians and Hospitals
If you have an established relationship with a doctor or specialist or are in the middle of treatment for a serious health condition, be sure to check the list of covered doctors and hospitals to be sure the physicians and facilities you use are included in the plan. Some plans offer out-of-network benefits but your costs may be higher if you don’t use a participating doctor.
HMO, PPO or Fee-for-Service
These acronyms determine which doctors you can see and the level of reimbursement they’ll receive from your health insurance company. HMO plans often have higher benefit levels but they are more restrictive. Fee-for-service plans are the least restrictive but have the highest out-of-pocket costs.
Just like your home and auto insurance, your Health Insurance in Oklahoma City OK will likely have a deductible. Your schedule of benefits will tell you which medical services the deductible will apply to and how much your policy will cover after the deductible is met. You may be able to lower your premiums by raising the deductible.
Each health insurance policy has a list of exclusions. This list tells which services will not be covered and which procedures may be covered with prior authorization. Be sure to read this list carefully to avoid any confusion later. If you have a chronic health condition or you are planning an elective surgery, tell your agent so he or she can look for a plan that offers the benefits you need.