Choose your Health Insurance Plan
Choose your Health Insurance Plan
If you consider choosing health insurance for you and your family, you should understand how this will affect your budget and your needs. Health insurance is not only limited to the monthly installments - which is calculated based on your monthly budget- and the insurance cost, but It also includes other costs, which are calculated based on:
Discount Amount.
Cost Sharing.
Shared Insurance.
Health Insurance Providers.
Discount Amount:
In order for the health insurance company to pay for your medical services, you must pay an annual fixed amount. In case you choose a health insurance plan that includes a large discount, the health insurance will pay part of the medical services cost after paying the discount amount, after that you will pay a lower monthly installments, in this case, when you need medical services, you have to pay a larger amount in advance.
Choose the suitable health insurance plan
The health insurance company shares the medical services’ costs with you, which include (doctor visits, medical tests, medications, surgeries, …etc.). There are two ways in which health insurance companies share these costs:
Cost Sharing:
Which is a specific fixed amount you pay after getting the medical services, the advantages of this method are:
You get the details of the paid cost when you review the insurance invoices.
Additional costs are less.
Shared Insurance:
It is a specific percentage of the medical services cost. However, one of this method’s disadvantages is that you don’t know the cost of the medical service until you receive the insurance invoice.
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Health Insurance Providers:
When you get a health insurance policy, you must know the medical network: (doctors' clinics, laboratories, pharmacies, hospitals and radiology centers) - which are contracted by the insurance company, and know their locations to avoid paying additional costs.
In case you deal with a specific medical service provider, and want to keep dealing with them, you may contact their medical insurance network, and get medical insurance with that network.
Above all, you should learn more about health insurance companies and their plans to compare and choose the suitable plan for you and your budget.
