Deciding on the right Affordable Care Act (ACA) plan can be a daunting task, but it is important to take the time to research and choose the plan that best fits your needs and budget.
The Six Ways to Choose Your ACA Plan
Choosing your ACA plan can be easier than you think — if you know what to look for. When making your decision, here are the six parts to consider:
- Premiums: The premium is the monthly amount you pay for your health insurance coverage. The ideal Affordable Care Act (ACA) plan will be balanced between an affordable premium and coverage to meet your specific needs.
- Deductibles: A deductible is an amount you have to pay out-of-pocket before your insurance coverage kicks in. Plans with higher deductibles typically have lower premiums, but you must consider whether you could afford the deductible if you needed medical services.
- Copays and coinsurance: Copays are a set amount you pay for covered services and items, like doctor’s visits and prescriptions. Coinsurance, on the other hand, is the percentage of a medical bill you are responsible for paying. Remember how these out-of-pocket costs are used for your care and how to balance them against your premium.
- Network: Most ACA plans have networks of healthcare providers that you can see at a discounted rate. Check if your preferred healthcare providers are in the plan’s network before enrolling.
- Prescription coverage: Every insurance policy covers different prescriptions. If you take medications regularly, look for a plan that covers them or has a lower copay.
- Extra benefits: Some ACA plans offer additional benefits, such as vision or dental coverage, at an additional cost. Decide if these benefits are something you’re interested in, and look for plans that include this coverage.
You’ve Considered These Factors — Now What?
With these components of your potential Affordable Care Act (ACA) plan in mind, you can explore the insurance market and compare different ACA plans and their costs. You can do this through the ACA Marketplace or make it easier with an insurance expert to bring the best options to you.
Jones Insurance Group takes time with every person they work with, understanding their needs and goals to provide the best insurance plan. To learn more, call us at (864) 660-3535.
