Make sure your insurance is working for you
Insurance is a complicated topic. Understanding your insurance plan can feel overwhelming. Most people aren't insurance experts, so as we enter the open enrollment period, here are some things for you to think about.
Choosing the right health care coverage is one of the most important decisions you can make for you and your family. It’s essential for you to fully understand your options and choose a provider that is best for your current and future health care needs. The choices you make today can secure or compromise your family's medical and financial future tomorrow. Unfortunately, most of us do not think about our health insurance until the need arises.
If you’re diagnosed with cancer, you want to receive treatment from a National Cancer Institute-designated cancer center that devotes 100 percent of its time to studying, diagnosing, treating and preventing cancer. If your plan doesn’t include this option, it might be time to switch.
Open enrollment period is the time to take action if your plan does not provide in-network coverage of the services you want. Depending on your type of health insurance, there are rules about when you can enroll in another health insurance plan. The open enrollment period is typically from November 1 through January 15 in most states.
Is your cancer care covered?
There are many factors to consider and compare when picking an insurance plan, but two key components are coverage and cost.
First, you want to make sure the providers (your primary care doctor, specialists, hospitals, etc.) that you use or want to use are in-network and participating with the plan you choose. Second, you should consider the total health care costs (monthly premium, deductible, copays and coinsurance, and out-of-pocket maximum). Generally, plans with higher premiums have better coverage and lower out-of-pocket expenses.