If you’re shopping for your own individual health insurance plan, it’s likely that you’re self-employed, or not covered by your employer. Our agency can help you navigate through the fog of terms and plans to find the coverage the most suits you.
To choose the best health insurance plan, you need to understand what different plans offer and what their benefit and cost trade-offs are.
With a network plan, you take your pick of providers within a large network of physicians and hospitals offering negotiated rates. The providers’ reduced fees lead to lower premiums, deductibles and copayments for you.
A traditional plan offers you complete freedom to choose the doctor or hospital you wish, without penalty. The flexibility of a traditional plan makes the most sense if you live outside a network area.
Health Savings Account (HSA) Plans
A Health Savings Account (HSA) plan consists of a federally-qualified high deductible health insurance plan and a tax-sheltered HSA. The high deductible plan, which costs less in premium compared to a conventional plan, covers bills that exceed the deductible. You may pay smaller bills and some other expenses not typically covered by health insurance with pre-tax dollars if you set up an HSA. HSA’s also help you save for your future needs since the funds roll over from year to year tax-free.