4 Important Things Millennials Need to Take Note of When Buying Health Insurance

The first batch of Millennials are now aging and most of them are becoming health conscious. While the younger groups are satisfied with the health care provided by their employers, the older groups realize that it’s not enough once they have retired. Due to this, they are now buying health insurance that can take care of them in the future.
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Now, those in the group who want to buy health insurance should remember these four important things:

1. Review Your Health History and Lifestyle
   Your health history and your lifestyle are crucial in knowing what kind of plan your health insurance should cover. Counting the number of trips to the emergency room in the past and the reasons behind these trips can be a good basis. You should also consider the times that you are supposed to be in the hospital but choose not to go because of the cost.
   
   Are you spending on prescription drugs or taking maintenance drugs? Do you have vices such as alcohol and cigarette? What are your hobbies? Are you into extreme sports or other physical activities? These things will tell you what you need in the coming years. Keep in mind that aside from possible diseases that you might get, accidents are just waiting in every corner.
   
   
2. Be Familiar with the Terms
   “Health care is complicated. The premium you pay isn’t the whole story,” according to Jennifer Fitzgerald, CEO, and co-founder of an independent online insurance marketplace. It is important to understand how high deductible health plans (HDHP) are different from the preferred provider organization policy (PPO). 
   
   Copays are fees you pay for the services before the insurance starts. Coinsurance is the percentage that you pay after you meet your deductible. You should also be aware of the out-of-pocket maximums.
   
   
3. Know Your Budget
   You are going to have new expenses. Check your budget to know how much are you willing to pay each month. You may want to check the national healthcare exchange, Healthcare.gov to have an idea how much will it cost you to get covered. From there, you will see different offerings where you can choose what suits your budget.  A higher deductible plan keeps the premium cost low.
   
   
4. Mind the Prescriptions
   If you are using an expensive medication regularly, you will save a lot of money if your prescription is covered by your plan. It is said that most individual market health insurance plans will only cover the prescription drugs once you hit your deductible. If you are spending a lot on your prescription, it would be better to get a plan with lower deductibles.

Millennials, just like the other groups, are not getting any younger. No one can tell what is going to happen later and getting your health insured is one of the best things you can get for yourself.

At Choice Enrollment, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (719) 481-1616 or Click Here to request a free quote.