Choosing deductibles, co-insurance ratios, and provider network
Whether you will choose health insurance from an employer-sponsored group plan
or purchase an Individual/Family plan, it’s important to select the right plan for you.
Don’t purchase health insurance based on premiums alone Deductibles, co-insurance ratios, the size and expertise of the medical provider network (hospitals, physicians), and your unique personal family situation should be equally considered.
Find the right balance of deductibles, co-insurance ratios, and provider network
A low premium plan will have higher deductibles and co-insurance ratios
A low premium plan will usually have a more narrow provider network
A high premium plan will have lower deductibles and co-insurance ratios
A high premium plan will have a wider provider network
A plan from the ACA marketplace may qualify someone for subsidized premiums based on income and household size.
For more choices in doctors and hospitals, choose a high premium plan.
To save money if you want to hedge against using your health insurance, choose a low premium plan.