3 things to know about picking a health insurance plan

3 things to know about picking a health insurance plan

3 things to know about picking a health insurance plan

What to look for when comparing plans

Open Enrollment for 2021 health coverage starts January 1 2021. Knowing just a few things before you apply can make choosing a plan simpler and easier.

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3 things to know about picking a health insurance plan

  • There are 4 categories of health insurance plans: Bronze, Silver, Gold, and Platinum. These categories show how costs are shared between you and your plan. Plan categories have nothing to do with quality of care.
  • It’s important to think about your total health care costs, not just the premium. Other out-of-pocket costs have a big impact on your total health care spending — sometimes more than the premium. Get more information on how these costs work together to make up your total spending.
  • There are different types of Marketplace health insurance plans designed to meet different needs. Some plans may limit your provider choices or encourage you to get care from the plan’s network of doctors, hospitals, pharmacies, and other medical providers. Other plans may pay a greater share of costs for providers outside the plan’s network. Learn more about health insurance plans and network types.

If you see a good deal online, make sure you’re looking at an ACA plan, warns health policy writer and insurance broker Louise Norris. When you search for health insurance on the internet, you may stumble on short term plans that advertise much lower monthly premiums, but don’t cover the ACA’s famous ten essential benefits. These include some pretty important stuff like prenatal care and mental health treatment.

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Before you come back to apply for 2021 coverage on January 1, get more tips on picking a health insurance plan that’s right for you.

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