Factor |
Why It Matters |
Monthly Premium |
This describes how much one has to pay in a month, doing so maintains the insurance in place. It is very important to make sure that the premium is tied with the other aspects, such as the deductible. |
Deductible |
This is the amount that has to be met before the insurance begins paying any bill. A higher deductible may be disadvantageous to some people especially those who expect to use health care services regularly. |
Co-pays and Coinsurance |
These are your share of the costs after meeting your deductible. If you regularly visit doctors, choosing a plan with lower co-pays might save you money. |
Provider Network |
Ensure your preferred doctors, specialists, and hospitals are in-network to avoid out-of-pocket costs for out-of-network care. |
Out-of-Pocket Maximum |
This is the highest amount that a member will have to spend within a period of one year. This also means that when a person reaches this limit he or she will not have to pay for costs anymore because insurance will cover these at a hundred percent. |
