One of the questions I seem to get most this time of year falls along the lines of, “How do I know I am picking the right healthcare plan for my family?”. Healthcare can be expensive, especially if you don't know what the different options are! Have no fear, Mama J has heard your call, and is here to help!
Watch the video online or click and watch below:
No time to watch? No problem! Here are the main points you'll want to know!
1- KNOW YOUR STUFF!
HSA? FSA? HRA? Premium versus out of pocket cost? Knowing the lingo for your healthcare options helps making the decision on which plan is best for you and your family so much less stressful! Luckily, United Healthcare's new website comes equipped with a quiz that checks to see if you are a health plan pro! It makes learning about your healthcare plan options fun! They are giving away prizes to those who complete the quiz! How does a $500 grand prize, and $100 weekly prize sound?! Amazing, right?!
2- WHAT FITS BEST FINANCIALLY?
Would a low premium, high out of pocket cost option be best for you? Or maybe a low out of pocket, high premium plan, instead? After evaluating how often we go to the doctor, a low premium, high-deductible plan was best for us. We are relatively healthy, so paying a bit more when we need to visit the doctor made most sense for us. Think about your needs, and weigh out your options.
3- CONSIDER YOUR NETWORK
Do you have a pediatrician you love? Are you planning to have a baby soon? If there are specialists, or certain doctors you prefer visiting, make sure you choose a network that covers those physicians. Otherwise, you'll be paying out of pocket to visit them… and that can add up QUICKLY!
Open a health savings account! The money you put into this account is tax-free! Many employers offer them along with healthcare plan options; or you can always look into getting one yourself! If that isn't an option for you, open an additional savings account dedicated to medical savings. Then, when you need to visit the doctor, you have a slush fund of savings to pay for what you need!
What tips do you have when it comes to choosing the right healthcare plan? Share with me in the comments below!