Health insurance coverage costs vary for each family based upon the plans available and the needs of the family. It is important to shop around for coverage before signing on with a specific provider, even if it is an option offered by an employer. Expensive health care coverage plans are not always superior to more affordable plans.
Higher Deductibles/Spend-down Plans
It is common to see a higher deductible or spend-down amount listed for costlier health insurance coverage. These rates may not be possible for growing families that already budget their monthly income. This can also lead to higher co-pay amounts, which are nearly the equivalent of some physicians’ in-house programs for the uninsured.
Insurance plans at all price levels have gaps in them. It is important to read every word of an insurance plan and pay attention to the percentages or dollar amounts shown to be covered. Incomplete coverage means that portions of services are not covered, services are marked as elective that are necessary, or only cover general health/wellness services. View where the gaps are and compare those with lesser expensive coverage plans, to determine if another provider has more coverage for the services your family needs.
Having to Purchase Supplemental Coverage
When an insurance plan does not provide sufficient coverage, supplemental plans are required. This means that a family is paying two monthly premiums for health insurance. If a high-priced plan requires secondary coverage, it is ideal to continue shopping around to find the right provider. Consider using a service, like the healthcare marketplace, to compare costs prior to looking further into them.
Shopping for dental insurance coverage is typically rather inexpensive and worth the cost. Dental procedures can be quite costly and most plans only cover a portion of the cost. This can still leave large out-of-pocket dental care expenses that can financially strap a family with an already strict budget. If the cost of your procedure is too much, consider asking for the non-insured cash price and any available financial assistance programs or payment programs to make the bill practicable.
Vision plans are also typically inexpensive. These plans have spending limits, surgical option limits, and general care limits. If you exceed your limits for contacts, glasses or prescription sunglasses, the cost above what is covered must be covered by you. The benefit here is, you may be able to use your insurance with discount vision care providers that combine an exam with corrective lenses in a fixed price to receive a bit of a discount. Vision plans typically are worth the price.
The high-priced health insurance plans are not necessarily worth it. It is vital that you compare the percentages of care covered, types of medical services covered, and the co-pays for all types of procedures. If you are unable to cover your out-of-pocket costs, it is not the right insurance plan for your family. Compare individual pricing for each type of service against the price of the monthly premium to determine if the higher-priced plan offers more of the services your family requires than others.