With open enrollment around the corner, Better Health Advisors can help make your insurance less complicated and guide you through your decision-making process.You might be changing jobs, deciding whether Medicare is the right option, or exploring insurances on the health exchange. Regardless, we are here to answer your questions.When considering health insurance plans, there are various costs you will most likely need to pay for your health care, even with insurance. They include:

  1. Deductible- The amount you pay for your covered health care services before your insurance plan beings to cover the cost.
  2. Premium- How much you pay for your health insurance every month.
  3. Copayments- A fixed amount you pay for a medical service (primary care visit, specialty visit, etc).
  4. Coinsurance- The percentage of costs of a covered health care service you pay once your deductible has been met.

A basic rule of thumb is the lower your monthly premium, the higher your deductible. If you have a plan that has a higher monthly premium, you can expect a lower deductible.Another question to address is whether you want to join a Health Maintenance Organization (HMO) or a Preferred Provider Organization (PPO).If you are enrolled in a HMO, you will have access to specific doctors and hospitals within network. These providers and hospitals have agreed to lower their rates for those enrolled in the plan. Care is only covered if you see providers who are within network. You can expect lower premiums and low deductibles and potential necessary referrals from a primary care provider to see a specialist.If you are enrolled in a PPO, you will have the flexibility to choose a doctor and hospital. Although a network of providers exists in a PPO, patients have less restrictions when seeing non-network providers. A Primary Care Provider referral is not required before seeing a specialist. PPOs will cover care when you see providers out of network, although your costs, such as premiums, may be higher.Health exchanges

 are organizations in each state through which people can purchase health insurance. People who are not offered insurance by their employer can purchase coverage through exchanges.If you are looking for more guidance in picking the right insurance plan for you, please read our article “Is Being Insured Enough?” and contact us at Better Health Advisors to help you pick the plan that is right for you.