Why it Pays to Look Beyond Price When Buying Health Insurance
September 8, 2019
When purchasing health insurance in North Carolina, there are a variety of plans available. However, you could be making a mistake if you purchase a plan based on the sticker price alone. By simply asking a few questions when purchasing your plan, you can save in the long run.
Reviewing your health insurance options
Costs are important, but the “cheapest” plan could actually have you spending more on your health care costs than the more expensive options. Make sure you consider the following elements of any plan before purchasing:
- Are my current doctor(s) covered in-network?
- What type of in-network doctors do I have in my area?
- Will I be covered if I see a doctor out of state?
- Do I qualify for a cost share reduction plan?
- What is my out of pocket maximum?
Purchasing a plan without knowing the answers to these questions could mean bigger health care costs after your plan starts.
Cost share reduction plans
You may qualify for a cost share reduction plan–this means you receive a discount on the Silver Level Plan, giving you better coverage for an affordable price. An insurance agent will be able to tell you if you qualify and guide you toward the best option for your needs.
Medical Coverage networks
When you purchase a health insurance plan in North Carolina some doctors will be “in-network” and others will be “out-of-network.” With in-network doctors, a larger percentage of your costs are covered by your insurance plan, whereas with out-of-network doctors you will have to pay more out of pocket. Each insurance provider has a different coverage network and it will pay to choose a plan that best suits your needs.
Seek the advice of an expert
Reviewing your insurance options with a licensed North Carolina health insurance agent is your best option when purchasing a plan. Licensed agents have the knowledge to help guide you toward the best fit for you and your family.
By working with an agent (at no cost to you) you can benefit by receiving:
- Access to expert advice
- Personalized service
- Help applying for subsidies
- Greater availability to answer your insurance questions
Remember, you could be leaving money on the table by not working with an agent! For help choosing a health insurance plan in North Carolina, contact us.
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