Health Insurance 101 for First-Time Buyers
Introduction
If you're buying health coverage for the first time, make sure you know what's available and choose wisely.
Know your health insurance options
Health insurance options
Insurance companies: There are many different types of health insurance companies in the United States, including Blue Cross and Blue Shield, Aetna, Cigna, and Humana. The three most popular types of plans are HMOs (Health Maintenance Organizations), PPOs (Preferred Provider Organizations), and EPOs (Excess Plan Organizations). Most people who have employer-sponsored plans choose either an HMO or an EPO because they're less expensive than PPOs. In addition to these network options for health care providers—which often require you to see doctors within their network before receiving treatment—you can also buy individual policies from each company if you prefer that type of coverage over group policies offered by employers.
Health Insurance Plans: The main difference between a plan available through your employer versus one bought directly from an insurer is whether it allows you to keep existing doctors after leaving work; this would make them less likely candidates for declining into retirement without going through another transition period like moving across state lines due to relocation or family circumstances caused by unexpected events occurring during vacation trips abroad
Read the fine print
The first step to finding the best insurance plan for you is reading the fine print. There are many different types of health insurance plans out there and it's important to know what each one offers before signing up.
For example, if you're looking at a high-deductible health plan (HDHP), don't assume that because it has a lower monthly premium than other types of HDHPs your costs will be lower over time—in fact, they might cost more in total because each year's deductible has been built into their yearly premiums. Similarly, if an insurer offers a "family" plan with low premiums but high deductibles and co-pays, this could actually end up costing more money overall since those costs would need to be spread out over several years instead of just one year like most other types do!
Look closely at all details when comparing different plans: cost-share limits on preventive care services; maximums on out-of-pocket expenses such as co-insurance payments; maximums per condition/specialty area(s); annual maximums per person; etc., etc., etc...
Make sure you're covered
Before you buy a health insurance policy, it's important to understand the benefits and costs of having one. First, let's talk about what health insurance is and why you might want to purchase it.
Health insurance provides coverage for medical expenses—including hospitalization and prescription drugs—in case of illness or injury. The policy also offers financial protection in case one of your family members becomes seriously ill or has an accident that requires treatment beyond what Medicare would cover (for example a major surgery).
The cost of purchasing a policy depends on several factors: where you live; whether you have pre-existing conditions; what type of coverage options are available through your employer (such as dental care); whether there are any discounts offered by providers; etc.
Choose your plan carefully
Before you begin shopping for a health insurance plan, it's important to make sure that you're choosing the right one for your needs. You want to choose a plan that fits your lifestyle and budget—and one that will protect everyone in your family.
If there are any medical conditions or past illnesses in your family history, find out which ones are covered under the plans offered by different companies so that you can find the best coverage available at an affordable price point. For example:
If someone has asthma or allergies but doesn't have access to insurance through their employer or other group plans like Medicare Part D (which is only available if they enroll within 30 days of being diagnosed with cancer), then they may need additional prescription medications such as inhalers and allergy shots monthly instead of yearly visits with their doctor as well as specialty care when necessary because those services aren't covered by most policies today despite being standard treatment options over time."
If you're buying health coverage for the first time, make sure you know what's available and choose wisely.
The first thing you should know is that health insurance isn't just one thing. Health insurance plans are the way healthcare providers pay for services, while companies that sell those plans often do so through more than one plan.
This can be confusing at first because it's easy to assume that if you have one company selling your plan (like Humana), then all of their employees will be eligible for it. That's not necessarily true—you may have employees who work at multiple different businesses, or even own their own business but still receive benefits through their employer-provided insurance plan.
So how can you tell if someone is an employee? If they're working full-time and don't qualify for any other type of coverage (such as Medicare), then they're likely an employee!
Conclusion
We hope this article has given you a better idea of what to look for in health insurance. There are many options, so it can be hard to choose which one is best for you. You may want to consider the following factors when choosing a health plan:
Whether or not your job offers benefits
Which doctors and hospitals are covered by your plan?
How much will premiums be per month? How much will deductibles be per year?
If these questions aren't answered then it's time to ask yourself if this is right for you! Good luck on your journey towards better healthcare coverage