Healthcare is one of the essential benefits your work provides. After all, a car accident or appendicitis when you’re not insured can devastate your finances. However, healthcare has become more complicated, and choosing a healthcare plan for couples is difficult. You likely have various plans to choose from, each offering varying levels of care and vastly differing prices. To make sense of healthcare, here are items you should consider.
3 Things Couples Should Look for in a Healthcare Plan
While there is much to consider when choosing a healthcare plan, these are the top three priorities.
HMO Vs. PPO
When choosing between an HMO or PPO plan, first determine your priorities. Is medical freedom more important, or is cost?
With an HMO, you will likely pay less for your premiums and co-pays, but you can only choose in-network providers, and if you want to see a specialist, your doctor must refer you to one.
If you choose a PPO, your premiums and co-pays will be higher, but you can choose in-network or out-of-network doctors. (In-network doctors will cost you less out of pocket.) You can also see a specialist without a referral.
If you’re in your 20s or 30s, you may be able to choose insurance with less flexibility because you’re likely healthy. However, if you’re in your 40s or older, you may want to choose a plan with more medical coverage because you have reached the age where chronic health conditions begin to occur.
Look at the Network Plan
Once you’ve chosen the insurance you want, look at the policy’s network plan. If you already have established providers, are they in-network with the insurance plan you’re considering? If not, you may not be able to use your current providers, or if you do, you may have to pay more out of pocket. In this case, are there other providers under the insurance plan that you would feel comfortable switching your care to?
If You’re Both Offered Health Insurance through Work
Of course, choosing a healthcare plan for couples becomes more complicated if you’re both employed. For example, you could use one spouse’s insurance, or choose coverage under your separate employers’ policies.
To determine what to do in this situation, consider your insurance options:
- Compare the cost of each policy if you were on separate policies.
- Look at your expenses if you were on one another’s policies.
- Consider how much your employer would deduct from your paycheck for insurance coverage and how much you would pay for deductibles and co-pays.
However, don’t make your decision solely based on the finances.
Also consider the medical benefits of each plan. For instance, if one of you has a pre-existing condition, consider which insurance plan offers the most services for that issue. Or, if one of you takes medication regularly, which plan offers the best pharmaceutical prices?
Final Thoughts
If you’re privileged enough to each have insurance through work, choosing a healthcare plan for couples is more complicated because you have more plans and factors to consider. However, you also may have better insurance coverage because you have more choices. Choosing health insurance plans is challenging; consider cost and coverage to obtain the right insurance for your needs.
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