Which health insurance plan is better? Consumer Q&A ? Get Smart ...

Picking the right health insurance plan isn?t always easy. If you get your health insurance through an employer, you may have to choose between three or four options with different premiums, deductibles, and copayments. If you buy medical coverage on your own, you may find that there are literally dozens of different plans to choose from.

Some of the health insurance questions that pop up on Yahoo Answers are posted by people in the middle of their decision process ? people who want help understanding which plan is the best. For example, last week we took a question from someone who had apparently narrowed his choices down to two plans. Plan A had a lower monthly premium but a higher deductible. Plan B had a higher monthly premium and a lower deductible.

Which health insurance plan is best?

The eHealthInsurance reply was voted Best Answer:

No one can really tell you which plan is better based on the information you provided. It depends on your personal needs and what you want out of a health insurance plan. We?d also need more details about each of these plans.

As a general rule, however, if you?re relatively young and healthy and rarely visit the doctor, then it might make sense to go for a plan with a higher annual deductible and lower monthly premium. Just make sure that you can cover that deductible in case of a serious illness or injury.

On the other hand, if you see the doctor frequently or are on prescription medication, it may make most financial sense to stick with a plan with a lower deductible and low (or no) copayments.

If you?re looking for some basic tips of shopping for health insurance, check out the health insurance buyer?s guide we published online.

Hope that helps.

Photo via Flickr user DorkyMum

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Source: http://blog.ehealthinsurance.com/2012/02/which-health-insurance-plan-is-better/

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