Employed? How to Select Your Health Insurance for 2011

Employed? Before you select your health plan for 2011, do your homework. By getting a few details prior to signing on the dotted line, you'll ensure your decision is a good one. Unlike a few of your peers, you won't end up paying for coverage that doesn't really suit you.

1) Compare prices on plans.

Do you have an opportunity to pick amongst more than one health plan? If so, compare the prices. Calculate how much you'll have deducted from each paycheck. Then, choose one that fits within your budget.

2) Learn when deductibles apply.

A deductible, a sum you pay out of pocket before your health plan pays anything, can greatly impact your ability to get treatment. Review your selection for medical coverage and learn when one applies. Usually, deductibles start at $200 or more and must be met when you have surgery, visit an emergency room or receive any type of high-end radiology. Also, they are times when they are waived such as in the case of a physical or basic office visit.

3) Be mindful of your general health.

Take stock of you and your family's general health before you enroll into a health plan. How many times do you, your spouse and children go to the doctor in a year? Is anyone suffering from a major disease? Make sure that whatever you pick will cover your services and treatment. You don't want to shell out money for a health plan that offers minimal benefits.

4) Find out which doctors you can see.

Some insurance companies limit which types of doctors you see. As you select your health plan, get details from the carrier if they have these kinds of restrictions. You will want to contact them with the names of your doctors, so one of their representatives can research your questions. Normally, the process will take less than an hour and save you a lot of grief in the future.

5) Learn what types of drugs are covered.

Need to take a certain medication to stay healthy? Make sure this drug is covered by your health plan. You can usually get the answer to your query by calling the insurer or checking the drug formulary on their Website. To get the most accurate answer, you need to the correct spelling and milligrams of the medication you take.

These are five areas you should explore before selecting a health plan this year. You want to choose wisely and protect you and your family's health.