Health insurance is one of the most important coverages that you have. Choosing the best policy for your needs and finances is important. It is a fine balance between being covered and being able to afford the coverage. Some questions to ask when choosing health insurance are vital to getting the right fit. Nieroda Insurance Agency in Saint Charles, MO has staff who can help you to figure out which policy will be the best fit for your needs and your purse. Some of the questions you need to ask include:
- What is the maximum out of pocket expense I will need to pay every year?
- Does my doctor take this insurance plan?
- What is the plan deductible?
- Is the drug or drugs I take covered?
- What is the premium?
The maximum out of pocket expense is the amount that you will need to pay before your policy provides you with 100% coverage. This can be anywhere from about $3000 for a great plan to the mandated maximum of $7900 for plans in the ACA. Your deductible and copays all count toward the maximum.
Insurance plans have a list, many will be on their website, of the providers in their plan. If you are in doubt, call your doctor’s office to double-check. Going out of network can be very expensive depending on the plan.
High deductible plans can be thousands of dollars that need to be paid before any services are paid. They are attractive since the premiums are usually low.
Insurance companies have a drug list called a formulary which lists both branded and generic drugs and places them in tiers. The amount of copay and deductible that you must pay depends on the tier of the drug.
The premium must be something that you can afford and still provide you with the coverage you need. Finding the right policy is something that the staff at Nieroda Insurance Agency in Saint Charles, MO can help you with. Check out their website or call their office for a no-obligation quote.