Sep 27
Selecting a Health Plan in the Consumer Driven Market
The term ‘consumer driven’ health insurance is very much in vogue these days, and what it means is that the consumer is picking up more of the cost of health care, the employer proportionately less. This is usually accomplished by providing the consumer with a personal ‘health account’ which provides you with an annual amount of cash to be allocated for health care as you wish. At the same time, copays are going up and exclusions are rising as well.
Nevertheless, you will have choices. Nationally, about two thirds of workers will have a choice of at least two plans; 43 percent will have three or more. Premiums are only going up, so it’s important with each plan to understand what you will and won’t have to pay –especially the “exclusions,” which sets out services that aren’t covered. Look these specifics over thoroughly:
Deductibles and copayments. Comparing these is obvious, but keep in mind that there’s no maximum with regular managed-care plans on out-of-pocket copayments.
More after the jump…
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