It’s easy to feel overwhelmed by the health insurance world. Complex terminology, choice anxiety over the number of plans to choose from, and a lot of money on the line can make finding health insurance a headache.
Let’s clear the air by debunking a few misconceptions about health insurance.
Misconception #1: The least expensive premium Is the least expensive plan
People often think that they need to look for the cheapest premium to find the best deal on health insurance. However, the least expensive premium might not equate to a cheap health insurance plan.
There are a range of factors that contribute to the total cost of your health insurance besides your monthly premium, including the deductible, copayments, and coinsurance (read more on these terms here). Cheaper premiums typically come with higher deductibles and copayments on things like routine doctor’s visits. These costs can quickly balloon your healthcare costs during the month, long after you’ve paid your premium.
Additionally, low-premium plans may provide less coverage for other essentials like prescription drugs and frequent trips to the doctor for chronic illnesses. Be sure to realistically consider how often you’ll need to use your healthcare benefits before opting for the least expensive premium, since you might end up paying more over time.
Misconception #2: Insurance is only for physical issues and not mental ones
Not that long ago, mental health issues weren’t seen as serious medical concerns by the general public, and this bias can still live on today. Many people don’t realize that many health insurance plans will in fact help you pay for mental health services.
Many plans either cover or offer reimbursement for a range of mental health services, including therapy, prescription drugs, and psychological testing services. You can find out if your health insurance plan includes these types of services by reading your summary of benefits and coverage before purchasing the plan.
If you do have mental health concerns and want to use your insurance, be sure to check with your health insurance provider before visiting a specialist or doctor. Just like with visits pertaining to your physical health, you can receive an in-network discount for visiting the right specialists.
Misconception #3: I can’t find an affordable insurance plan outside of my job
It’s already stressful finding a new job, and not having health insurance can make that stress even worse. There are a lot of options for people in between jobs to purchase affordable health insurance. Making sure you’re covered can be a huge help in the event of an unexpected medical emergency, which could be a big financial burden if you’re caught with no coverage.
If you’re looking for temporary coverage until you find another job that offers benefits, short-term health insurance plans might be exactly what you need. You can enroll in one of these plans outside of enrollment season, they can last for as little as a month and for as long as 36 months, and they can cover essentials like mental health and maternity if you require these services.
Misconception #4: I don’t know where to start looking
First Family Insurance offers plans for a wide variety of budgets and healthcare needs, and getting started is as easy as picking up the phone. Our agents are ready to speak to guide you through the process to help you make the most informed choice possible.