When you are shopping for Indiana health insurance there are a few things that you should know. Quality Indiana health insurance is a bit different than simple health insurance. Quality insurance means that your health insurance provides you with coverage that you need without costing you a fortune out of pocket.
Most people consider the premium cost when they are considering which plan to purchase. The premium cost is important but it is by no means the bottom line cost. The bottom line cost is a combination of costs. A quality Indiana health insurance plan takes all those costs into consideration and still comes up with a cost that is affordable while not cutting back on coverage.
Here are two different scenarios when it comes to a health insurance plan. The first scenario – Plan A- offers a very low premium! That is great or is it? Let’s say Plan A costs $1ooo for a six month period. Plan A has a deductible of $1500 for general medical and a deductible for $5000 for hospitalization. Let’s also say that Plan A does not offer prescription drug coverage. It also has a cost share of 25% for doctor visits and diagnostic testing.
Over the life of Plan A you will have to pay out of pocket just for Dr.’s visits at least $1500 plus the 25% before your health insurance ever kicks in. Right out of the gate Plan A is costing you at a minimum $2500 doubles that by the year and you are looking at $5000 before your insurance ever pays out a dime. Looks cheap at first glance but not what we would consider a quality Indiana health insurance plan.
Take a look at Plan B. Plan B’s premium is going to cost you $1500 for a six month period but your deductible is $500. Your cost share is 15%. There is prescription coverage. So for the year your premium and deductible combined is going to be $4000 initial savings over plan A is $1000 but also consider your cost share is lower AND you get prescription drug coverage. This would be a quality plan.
Of course these two scenarios are just fiction set up to show you how you should determine if a plan is an Indiana health insurance plan. Scenarios do exist like this all the time; you have to be able to compare what you are being offered to find the quality is a health insurance plan.
We can help you find a quality Indiana health insurance plan today! Call or fill out the contact form and we can call you!
