Health Insurance

When it comes to health insurance, the vast assortment of options can make choosing the right plan a daunting task. When looking for affordable health insurance, you should consider more than just the price tag. Understanding your own healthcare needs will help you get the most out of your health insurance coverage.

Things to Consider

• Your Doctor: Certain health insurance plans may require you to use a specific network of doctors. If you currently have a physician that you would like to keep seeing, then check to see if your doctor is included in the healthcare plan you are considering.
• Specialists: If you have a medical condition that requires a specialist, you should find out how different plans will allow you to see a specialist. Find out if you will need to contact your primary care physician before seeing a specialist, and if your current specialist is part of the provider’s network.
• Pre-Existing Conditions: Coverage for pre-existing conditions varies between plans. These conditions may be fully covered, require a waiting period for treatment, or be excluded from coverage.
• Emergency and Hospital Care: You will want to find out which emergency rooms and hospitals are covered on your plan.
• Regular Physicals and Health Screenings: If you see a doctor for regular physical exams, find out how these are covered in the plans you are considering.
• Prescription Drug Coverage: Coverage for prescription drugs varies between health insurance plans. Certain plans may provide complete coverage, while others may only cover generic drugs, or require co-pay. Find out how much you will be paying for prescription drugs.

Types of Health Insurance Plans
The two most common types of health insurance plans are HMOs and PPOs.

• HMO: A Health Maintenance Organization is an organization of healthcare providers that have contracted with an insurance company to offer their services at a fixed price. Your primary care physician must be member of the HMO and if you need to see a specialist, you will be required to see your primary care physician for a referral.
• PPO: In a Preferred Provider Organization, you can see any doctor you choose, but if your doctor is not in the PPO network, you will have to pay more out-of-pocket.

Health Savings Accounts
A Health Savings Account, or HSA, is a type of savings account that allows you to deposit part of your pre-tax income and use it for future medical, long-term care, or retirement expenses. To create an HSA, you must have a qualified high-deductible health insurance plan. The combination of an HSA and a high-deductible health insurance plan will allow you to pay lower insurance premiums, move those savings to an HSA, and use the HSA to pay for medical expenses not covered by your health plan. The HSA accumulates tax-free and rolls over from year to year.

BTB Can Help
BTB can help you find the proper health insurance plan at the lowest price. Call BTB Insurance today to discuss your health coverage.