Insurance – whether it’s for your health, your home or your car – is so important, but it can also be pretty confusing. When people call me with questions about their coverage, I find it helps to compare health plans to other kinds of insurance.
How it’s the same:
- You’re covered in case of an emergency or a catastrophe
- You pay a regular premium for that coverage, even if you don’t use it
- There is usually a deductible (amount you pay before your plan starts paying) that you need to meet, in addition to your premium
- The language is similar. If you understand what a deductible is for another kind of insurance, it also applies to your health coverage
How it’s different:
- The stakes are higher. When your toddler has a high fever, your first priority is to get him to the doctor for care right now. But those shingles that blew off your garage roof? They can probably wait.
- You’ll likely use your health coverage more often than you would file a claim for homeowner’s insurance or need to get your car fixed after an accident
- Preventive care is free, and we want you to take advantage of routine exams, tools and other resources that support your well-being. Your car’s upkeep, on the other hand? You’re responsible, since auto insurance doesn’t cover oil changes or other maintenance.
I like to remind people that health plans exist to keep them healthy. No matter what level of coverage you’re considering, I recommend starting with a list of what’s important for the health of your family, and the right plan will become clear.
Choosing a health plan for your family is an important decision. I encourage you to consult an adviser, plan representative or other trusted partner to help make the decision.