Picking the best health insurance plan

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Open enrollment season is upon us. And if you have getting your insurance through the Affordable Health Care Act (commonly known as Obamacare) or through your job, you need to examine your choices carefully.

According to Yahoo Finance reporter Alexis Christoforous, her are four things you should know before you pick a health care plan.

1) Under what our out-of-pocket costs will be (premium, deductible, co-pay) Lower premiums don’t always mean lower medical costs and it shouldn’t be the first and only thing you consider when choosing a plan.

2) What are your medical needs for the coming year? (how often do you see a doctor on average in a year, will there be a life changing event (ie, a baby, a marriage) Do you anticipate going to specialists, or getting surgery/hospital stay

3) Do you take regular prescriptions? Make sure your plan covers the medications you regularly take or if they offer generics for those prescriptions

4) Is your doctor included in your network? Make sure your regular doctors are covered by your plan. If they are not in-network and you continue to see that doctor, what will your out-of-pocket cost be. Doctors can drop insurance companies from year to year, so one doctor who took your insurance this year, may drop the plan next year. Do you need a referral to see a doctor under your plan?

Remember, it is important to do your homework so you’re not making a rushed decision about your health care.