Health insurance providers in Kentucky offer a wide range of plans for individuals and businesses. Most people are covered by an employer-sponsored plan. If you are not, you would have to buy a policy directly from an insurer. This means looking at various options and choosing the right Kentucky health insurance plan.
Compare Kentucky Health Plans
Health insurance plans comprise managed health care plans and indemnity plans. Managed care comprises HMO, PPO and POS plans. Managed care means fewer out-of-pocket costs, a small co-pay per visit, and no deductibles or insurance claims to file.
With HMOs, members must choose a primary care physician. This physician handles all your healthcare and treatment and refers you to a specialist if necessary. Each plan allows a certain number of wellness visits and checkups. A HMO is the least expensive of healthcare plans.
PPOs are flexible in that they let you see anyone you want, even out-of-network doctors and specialists. The doctor or healthcare provider is under contract with the insurance company to provide services at a discounted rate. However, if you go in for outside network care, you would be reimbursed for only up to a certain percentage of your expenses.
POS plans combine features of both HMOs and PPOs. Premiums are higher than HMOs, but POS plans offer greater freedom of choice with doctors and hospitals. In-network care involves a small copay and no deductible. If you go outside the network, you have to pay as in a fee-for-service or indemnity plan.
Making the choice between plans depends on what your priorities are. Choose a HMO if you are looking at low premiums and preventive care. But this plan would not be right for you or a family member have a pre-existing health condition that needs the attention of a specialist. If the coverage is for you and your spouse, see if having two individual plans is less expensive than having family coverage. A PPO is ideal if you can stay within the network and see the doctor you want.
One of the most important things to remember when buying medical insurance is that cost should not be the only concern. It is important to consider the needs of your family, range of benefits offered and the quality of the plan.
Points to Consider when Buying Health Insurance in Kentucky
When you compare plans, consider the following:
• The copay or discount for doctor visits
• Number of doctor visits
• Coverage for children
• Coverage for prescription
• Inpatient care and what the policy covers
• Emergency care
• Lab tests covered
• Annual deductible
• Total amount of co-insurance and deductible
• Premium
• Lifetime max coverage
• Whether the plan is HSA-qualified. A High Deductible Health Insurance Plan combined with a Health Savings Account (HSA) and can save you tax dollars
Other relevant considerations:
• If you are considering a new plan, review your past medical claims to understand how much of your expenses were not reimbursed
• See if your doctor or specialist is enrolled in the plan
• Choose the right doctor by checking out educational qualifications, credentials and experience. Ask friends to recommend a doctor, do online research to find good doctors and hospitals and choose a plan that has them as members
• Read the fine print before you sign
Benefits of Expert Guidance
The first step in choosing the right Kentucky health insurance plan is to get quotes from leading providers. Browse the web to find a reliable insurance agent who can help you. An experienced agent would answer all your queries and offer expert guidance to help you find affordable health insurance to suit your needs
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