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Most people choose health insurance to protect them in case of illness or injury. In some cases, though, health insurance could actually encourage you to be more healthy as you’ll have something to lose if you make unhealthy choices (e.g., higher premiums or no coverage at all). Here’s what you need to know about choosing your health insurance plan and how it can help motivate you to live the healthiest life possible.

If you’re like most American citizens, you have health insurance, whether it be through your employer or purchased directly from the company yourself. With so many Americans covered by health insurance, and with more benefits than ever before thanks to the Affordable Care Act, it’s important to make sure you use this valuable resource to it’s full potential. Take some time to review these tips on how to use health insurance to desire before your next doctor’s visit. You may find that some of your preconceived notions about insurance are actually false.

 

What is Health Insurance?

Health insurance is a type of coverage that protects you from medical expenses. It can help pay for things like doctor visits, hospital stays, and prescriptions.

There are two types of health insurance:

individual and group. Individual health insurance covers an individual person or family, while group health insurance covers a group of people (an employer).

Group health insurance may be more affordable than individual coverage because the cost is shared among all members of the group. That's why many employers offer it to their employees as a benefit. However, some people don't qualify for group coverage. For example, if you work part-time or at a small business with fewer than 50 employees, your employer might not offer health benefits to its workers.

If this applies to you and your spouse, there are ways to buy individual coverage outside of work. One option is through the Affordable Care Act Marketplace where qualified applicants can purchase plans with income-based subsidies based on household size and annual income levels .

 

Get Familiar With The Health Insurance Marketplace

The health insurance marketplace is a way for people to compare and buy health insurance. The marketplace is sometimes called Obamacare. This type of coverage helps people get health care, as well as other benefits they might need.

These are available to people who don't have a job that offers healthcare or if they can't afford it on their own. You may qualify for financial help with your premiums or out-of-pocket costs based on your income level.

If you live in the United States, then you should visit HealthCare.gov to find out what's best for you. You'll be able to see the plans available in your area and learn more about each one before making a decision about which one is right for you and your family. Once you enroll, the marketplace will contact an insurance company that provides the plan to offer you coverage based on the information you provided during enrollment - like your age, where you live, etc.

 

Understand deductibles and co-pays

If you have health insurance, it is important to understand how deductibles and co-pays work. A deductible is the amount of money that a person has to pay out-of-pocket before their health insurance covers anything. For example, if a person with health insurance has a $3,000 deductible and they go in for an MRI that costs $400, they will still have to pay the full $3,000 deductible before their health plan starts covering anything. Co-pays are the percentage of medical services a person pays for after their deductible is met. So if someone's co-pay for an MRI was 30% and their MRI cost $400, they would be responsible for paying $120 after their out-of-pocket expenses were met.

 

Understand the premium and out of pocket expenses.

It is important to know the difference between co-pays, co-insurance and deductibles.

The first two are what you pay after you have met your deductible. Deductibles are what you pay before meeting your out of pocket limit. Co-pays are typically $25 or $50 per visit while the more expensive co-insurance can be up to 50%. Deductibles range from $500-$3000 with a six months wait period before they will begin paying for anything.

 

Rethink your doctor. A new physician may lower your cost!

A physician is a person who practices medicine. Doctors can be general practitioners or specialists in any number of fields, including neurology, pediatrics, surgery, psychiatry, obstetrics and gynecology.

It's understandable that you don't want to change doctors because it takes time to build rapport with your current physician. However, if you're looking for lower premiums or out-of-network benefits, it might be worth considering a new doctor.

 

Learn About Preferred Providers & In Network Care

Health insurance can be confusing, but it's important to know the basics so you can use it to get the care you want. The two things you need to know are how preferred providers work and what in network care means. Preferred providers are doctors and hospitals who have contracted with your health insurance company to provide discounted rates for your health care. In network care is when a doctor or hospital agrees to accept the rates as set by your health insurance company.

 

Choose a high deductible health plan & save money on medications, procedures, etc.

A high deductible health plan is not for everyone. These plans require that you pay the first thousand dollars or more of your medical expenses before your insurance starts to pay anything. This can be a lot if you've never had to deal with the type of medical bills before. If you have a lower income, don't think you'll be able to afford it, or need coverage for dental and vision care, then this is not a good option for you. However, if you are young and healthy, and want to save money on your premiums by having more control over when and where your healthcare is used, then this might be right for you!

 

Health insurance can play an important role in whether or not you are able to afford the care that you need and desire, but it isn’t always easy to figure out how exactly it works and what you can do with it. We’ll break down this complicated but important topic so that you will know exactly how to use health insurance in your favor and benefit from it rather than fear it.