When choosing a plan, it’s a good idea to think about your total healthcare costs, not just the monthly premium you pay every month. Other amounts, sometimes called “out-of-pocket” costs, have an impact on your total spending on healthcare.
- Deductible: How much you have to spend for covered health services before your insurance company pays anything (except free preventive services)
- Copayments and coinsurance: Payments you make each time you get a medical service after reaching your deductible
- Out-of-pocket maximum: The most you have to spend for covered services in a year. After you reach this amount, the insurance company pays 100 percent for covered services.
Consider additional benefits, such as the embedded savings with Spira Care plans, as your policy may provide low to zero dollar services included with the cost of your monthly premium. These features can be an important savings throughout the course of the year.