How do I know which employer has the best health insurance benefits?
There are several ways to tell which employer offers the best health insurance benefits. However, before we go into details about all the different options available as far as health insurance is concerned, we must define the word best. For the purposes of this article, best is considered the best choice for you.
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Health insurance benefits are among the most important factors when people are looking at a job. Some of the factors that play a role in health insurance benefits and which ones are the best include the:
- Employee contribution
- Coverage options
- Co-pays
- Network access
- Ability to see a specialist
According to America’s Health Insurance Plans, health insurance is a very important part of the health care system in the United States. It is important that you sign up for health insurance if it is made available to you through your employer.
Am I supposed to contribute towards my health insurance coverage?
The answer to this depends on the contribution of the employer. In most cases, health insurance coverage costs a business a certain amount of money each month. This amount must be paid to maintain coverage.
Businesses choose an amount to pay each month, no matter what coverage. For example, many health insurance companies have a set amount that the insurance costs very month. The portion that the employer actually pays is what varies.
So for example, an employer can pay 80% towards health insurance coverage, while you as the employee must pay the difference, usually taken out of your paycheck. Some employers will pay the full 100% towards the premium costs, and others only offer the insurance at a discounted rate and require you to pay all monthly premium costs.
My employer offers three different health care plans. Which one is the best for me?
This depends on your individual needs. Some health insurance companies have created health plans that give employees options that are more flexible based on their lifestyle.
For example, there are family centered plans that focus on young children and their parents. These plans often offer:
- Free well child visits
- Reduced co-pay amount for sick child visits to the doctor
- Low or no co-pay for complete maternity and newborn care
- Reduced pharmacy co-pays
Some insurance companies even offer discounts and reimbursements for healthy activities.
Other types of plans include ones with built-in dental and vision coverage, and others provide services that are geared for older individuals. Each plan is unique, and it is important to look at all the options when determining which plan is best for you and your family.
If I don’t like my health insurance plan or company, can I change it at any time?
No, most insurance companies do not allow you to change your coverage at any time. Most organizations who offer health insurance to their employees have what is known as “open enrollment” at a certain time during the year.
It is only during this period that you can change your coverage or your health insurance carrier. This is done to prevent too many changes throughout the year that could lead to a coverage denial or error. In addition, changing health insurance companies often can cause confusion among providers, including your physician or even your pharmacist.
Open enrollment is your opportunity to start over when it comes to health insurance coverage with your employer. This is the time when you can look at all the options, compare costs, coverage, benefits and more, and then keep, change or completely switch coverage.
Is there any time when I can make changes to my health insurance coverage through my employer?
The only time that you can make any type of change to your health insurance coverage is when you have a qualifying life event.
These are defined as major changes in your life such as:
- Marriage
- Divorce
- Birth or adoption of a child
It is during this time that you can add or remove dependents from your coverage, and depending on the health insurance provider, make changes to your benefits and plan.
It is important to use any open enrollment period to reevaluate your health insurance plan, whether or not you make any changes to it. Most health insurance companies make changes to their coverage options each year, so it is also an opportunity to learn about any new benefits that were added, taken away, or had a price change.
Talk to your human resources department about the different health insurance options available to you. Make sure you look at the complete benefit package and how it can help your personal situation, rather than just the cost when deciding on which coverage to select.
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