How to Choose Health Insurance

How to Choose Health Insurance

Sitting down and researching how to choose health insurance can be a daunting task. Choosing the right health insurance can be even trickier if you are unfamiliar with the process and the options.

Whether this is your first time signing up for health insurance, or you’re a family or business looking to make changes to your plan, there are many different ways you can make sure you are properly insured. 

Health insurance is an important part of taking care of your health and financial security. Understanding the different types of plans, researching different providers, and considering your needs are all important steps in how to choose health insurance.

If you are employed and your employer offers health insurance as a benefit, you will most likely choose from one of their plans. Depending on the company, they typically have qualified experts on staff, or consultants with the health insurance companies who will walk you through the process so you can pick a plan that fits your lifestyle. 

If you are an individual, a family, or a business looking for alternatives to traditional health insurance, there are other options out there for you too. At 180 Healthcare, we offer solutions for individuals, families, and businesses that look different than most health insurance companies. We assist individuals so they can maximize their healthcare benefits for their unique lifestyle. 

The Basics of Traditional Health Insurance

Traditional health insurance is a type of coverage that provides financial protection against medical costs. It is the most widely used form of health insurance and can be obtained through an employer, the government, or purchased directly from an insurer. 

Traditional health insurance plans typically have a set deductible, copayment and coinsurance rate which can help to reduce out-of-pocket costs for individuals and families. There are also different categories of healthcare: Bronze, Silver, Gold, and Platinum. The category you choose will also play a factor in those out-of-pocket expenses. 

We are going to jump into the basics of traditional health insurance, and the goal is to understand how to choose health insurance, but we are going to walk you through a few important terms first. 

Health Insurance Categories 

Like we mentioned above, there are typically four categories of health insurance: Bronze, Silver, Gold, and Platinum. We won’t get into the specifics of each category, but in summary, each month you will pay a premium toward your health insurance, with bronze being the lowest amount you’ll spend each month, and Platinum being the highest amount you’ll spend each month.

If you are paying the lowest amount possible each month, this means that you are covered on a month-to-month basis, but you will be responsible for any health-related routine visits or check ups. On the opposite end with the Platinum plan, you will be paying the most money out of pocket each month, but your medical and healthcare bill will typically be much lower. This option is normally good for individuals or families who know they will have high medical bills throughout the year. 

What’s a Deductible?

Health insurance deductibles are an important factor to consider when choosing a health insurance plan. Deductibles are the amount of money you have to pay out-of-pocket before your health insurance plan starts covering expenses. Knowing how much your deductible is and what it covers can help you make a more informed decision when it comes to the best option for you.

Each time you have a visit to the doctor or a healthcare provider, you are paying money toward your annual deductible. Once you meet that deductible, the category of your health insurance plan will then determine how much insurance will cover for future healthcare related expenses that are provided under your plan.

How to Choose Health Insurance

When open enrollment comes around and it’s time to choose a plan, it helps to weigh the level of coverage you need (or think you might need) and the deductible of each plan. Obviously, we all want the best healthcare money can buy, but for healthier people, a higher deductible with a lower monthly plan might be the best option. 

On the other hand, for those with more serious health conditions that require more frequent doctors visits, a lower deductible plan with higher coverage might save you money over the long term.

If traditional health insurance isn’t a good fit for you, other alternatives might make for a better fit.

Health Insurance Alternatives

With rising healthcare costs, many people are looking for alternatives to traditional health insurance. While traditional health insurance has come such a long way, many individuals feel isolated and stuck in a box with only a handful of choices at their fingertips. 

Fortunately, there are a number of options available that can help you save money while still getting the quality healthcare coverage you need. From high deductible plans and health savings accounts to short-term health insurance and direct primary care, there are a variety of ways to get the coverage you need without breaking the bank.

Check out our healthcare optimizer to find out which alternatives might be best for you.

Subscription-Based Healthcare

At 180 Healthcare, we focus on subscription-based healthcare so that we can provide options that are best suited for your unique circumstances in life. 

Subscription-based healthcare is becoming an increasingly popular option for those looking for more affordable and accessible healthcare. It offers individuals and families the ability to pay a monthly fee for access to a wide range of services, from preventive care to specialty treatments. Subscription-based healthcare can help reduce out-of-pocket costs, provide access to quality healthcare, and give individuals and families more control over their health decisions. 

We partner with dentists, primary care physicians, fitness facilities, dermatologists, physical therapists, mental health professionals, and so much more. Our goal is to provide you with the best possible care so that you can find this alternative to health insurance both simple and affordable. 

The subscription-based healthcare plan can be a great fit for anyone! Whether you are starting your own small business, recently married, looking to start a family, and everything in between, this could be the best option for you. The cost of the plan is one of the most attractive things about it.

In 2022, the average monthly cost of health insurance for a 40-year old on a silver plan was $560. At 180 Healthcare, our primary plan starts at $79/month. 

Regardless of where you are in life, or where you are researching how to choose health insurance, just remember you have options. At 180 Healthcare, we want to help you pick the best option for you when it comes to healthcare coverage. Reach out to our team of experts who are ready to assist you. 

Call us at 573-803-4661 or contact our team today.