Health coverage is a complex thing to understand, especially when most resources are only available in English. With the introduction of exchanges, you now have the freedom to shop around and decide which coverage is best for you and your family. But how do you know what is best for your family when so much has changed in the marketplace? Should you stay with the insurance your company offers? Or should you sign up with an exchange? Open enrollment is just around the corner and a new resource is available for Spanish-speakers to get up to speed on how to make smart health coverage choices.
It’s as easy as ABC.
The website, Access Better Coverage en Español shares easy, digestible information for Spanish-speakers to understand and evaluate health coverage. ABC en Español has videos, tips, and checklists on how to select, shop, and buy health coverage.
With a quick Seguros de Salud 101 video, complexities in health insurance like deductibles, copayment, and coinsurance are explained. The website even has a glossary of terms to help bridge the gap when you’re discussing health coverage.
Many factors go into selecting a healthcare plan, but the website explains 5 steps can help you get exactly what you need.
- Review the type of plan and provider network – Is your doctor, hospital and pharmacy in the network? You can reduce costs by going to in-network doctors and preferred locations since they are covered under your plan. If you choose to go out-of-network, you will incur additional costs that may be unnecessary.
- Calculate your premium – How much will insurance premiums cost each month? Can you afford to make the payments and any additional costs each month? Is there another insurance plan that may be cheaper? By evaluating these costs upfront, you will be able to make a smarter selection.
- Deductibles – How much do you need to pay in out-of-pocket costs before the rest is covered under insurance or co-insurance? You may need to pay 1,000 dollars or more before insurance covers additional doctors appointments, hospital visits or prescription drugs. Many plans with high deductibles feature low monthly premiums and many low deductibles feature high monthly premiums. Knowing how much you have to pay upfront can help you make the best choice for your family.
- Copayment and coinsurance – Copayments and coinsurance mean you will have to pay for something. With copayments, you have a pre-determined amount to pay each time you receive a service. If you see a specialist, you may incur a fee for each visit. With coinsurance, you are responsible for a certain amount of the payment for the service. Some plans will cover 80 percent of your service and you may be responsible to pay for 20 percent of the service. This can happen even after you have hit your deductible too.
- Prescription drug coverage – Are the drugs you take regularly covered under your plan? If you or someone in your family has a chronic condition, this is crucial. You can save hundreds of dollars each year if you do your research before selecting a plan and choose the plan that covers some or all of the medications you need.
Overall, this website is a great place to start when you’re feeling overwhelmed. Health coverage is complex enough, even without a language barrier, but bringing things back to basics with ABC en Español can make all the difference and help save you money.
This post was sponsored by Access Better Coverage and PhRMA.
