Affordable Care Act
Look at more than the monthly premium when choosing a health care policy
(KOMO News) – When it comes to choosing a health insurance plan, it’s easy to focus solely on the premium. That’s an important consideration, but not the only one.
“You need to sign up for a plan that you know you can afford otherwise, you might lose coverage, but you also have to look at the other details of the plan, like the deductible, copayments and coinsurance,” said Cynthia Cox, vice president of the Kaiser Family Foundation.
To keep those monthly premiums low, many policies have high deductibles. In some cases, they can be thousands of dollars for an individual.
“Looking at a high-deductible plan, you just need to consider: Do I you have enough money in my savings to pay off this deductible, if I have an urgent health care need that I need to get care right away,” Cox said.
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