Health Insurance in Franklinton & Bogalusa, LA – Personal Protection
Not long ago we would have been discussing the importance of this optional coverage, but with the passage of the Affordable Care Act (“Obamacare”), it is required under Federal law for all individuals to carry a minimum amount of health insurance coverage. It’s no longer a question of if you need health insurance but how much.
Costs of Common Medical Procedures
Regardless of how you feel about mandatory health insurance, the costs of healthcare continue to skyrocket. The cost of getting sick or undergoing a relatively common or benign procedure (like giving birth or having a colonoscopy) is astronomical. But let’s just say you’re the healthiest person you know. You’ve got great genetics and you heed your insurance agent’s advice and always wear your seatbelt and your bike helmet.
You may still want to take advantage of a routine office visit to make sure everything keeps going in the right direction. Without factoring in the cost of any standard diagnostic tests like blood work, it could cost you hundreds of dollars just to get in front of a doctor for a few minutes.
As you can see, it’s very important to make a wise decision regarding your health insurance, not one based on cost alone.
We offer Health Coverage through Blue Cross Blue Shield of Louisiana.
How to Compare Health Insurance Policies
Here are a few key things to consider when looking at different healthcare plans:
- Premium vs. deductible: What are you paying each month compared to what you will have to pay in the event of a claim before the insurance company will kick in?
- What’s the co-payment for certain procedures, diagnostic tests, treatments and drugs? These are the costs not covered by the insurance company even after you’ve paid your deductible (contrary to popular misconception, the insurance company doesn’t kick in 100%.)
- What’s the co-insurance certain procedures, diagnostic tests, treatments and drugs? This is the percentage of the cost of services that you’re responsible for even after the deductible is met. Similar to co-payment, it’s a percentage rather than a fixed cost.
- What preventative services does your plan cover BEFORE you meet your deductible?
- What’s the total “out-of-pocket” cost to you? That’s the total deductible, co-insurance and co-payments that you’re responsible for. Most plans will set a maximum and then pay 100% of your healthcare costs after that amount is reached (for the remainder of the policy year).
- Is there a yearly or lifetime limit on the plan? This is an annual or lifetime maximum dollar limit on how much an insurance company will pay to cover essential health benefits.
Health Insurance Agents can Remove the Guesswork
Do you currently have a health insurance plan that has drastically increased its monthly premium as a result of the Affordable Care Act?
Are you recently off your parents’ plan and looking to make a responsible insurance purchase?
Do you simply have better things to do with your time than spending hours trying to compare deductibles to coverages across multiple plans to determine which is better for you?
If you answered YES! to any of those questions, then please give us a call, stop in, or request a health insurance quote. We’d be happy to provide guidance, recommendations, and assist you in protecting your health and your wallet.
You can only apply for an individual health insurance plans during the open enrollment period, which usually falls at the end of each calendar year, unless you experience a Qualifying Event.
The state of Louisiana does not currently have a state-run health insurance marketplace/exchage. If you’re interested in learning more about the federal marketplace, visit https://www.healthcare.gov/.