Getting your hands on the best Colorado
Know your options
FFS (Fee-for-Service) – A fee-for-service plan will pay a specific amount for each service rendered by your
healthcare provider. There are limits, called “allowable amounts”, that the plan can pay. You should clarify these limits and other details with your insurance company. FFS plans are not very popular in Colorado because, in general, we have good access to PPO and HMO networks. As such, you can usually get a better value by opting for a PPO or HMO plan.
HealthMaintenance Organization) – In this plan type, you are limited to the healthcare providers within the HMO network and often times are assigned to a primary care physician (PCP). Your PCP helps to “manage your healthcare”.
- PPO (Preferred-Provider Organization) – This plan resembles that of an HMO, except that you may use providers outside of the network, although at lesser rates and benefits than any of the preferred providers. In addition, with a PPO you generally have the flexibility to see any specialist without first having to get a referral from your PCP.
HealthSavings Account) – A HealthSavings Account (HSA) is a tax advantaged savings account that allows you to set aside money for healthcare. This savings account is paired with a high deductible healthinsurance plan – the result being affordable yet comprehensive healthcoverage.
Study and compare plans
Given that you have a wide variety of plans to select from, don’t just get what your neighbor, co-worker, or best friend got. Each person has different needs and your insurance should be capable of meeting those needs when the time comes. Ideally, you should base your choice on these criteria:
- the quality of the medical care you will receive
- the coverage of your plan
- how much your premiums will cost
Consider all these factors and weigh the cost with the benefits. Don’t shortchange yourself by getting affordable
Look for alternatives
Having a hard time getting insured? Getting adequate
- Medicaid – You may qualify for this if you already have a pre-existing condition and are in a low income bracket. Find out if you are eligible for Medicaid by contacting the Colorado Medicaid Program at 1.800.221.3943 or 1.800.659.2656.
HealthPlan Plus (CHP+) — Colorado provides plans for children from low income families through the CHP+. There are several rules pertaining to income brackets and family sizes.
- Medicare – Another program you can turn to if you have a pre-existing condition or disability. Normally you would have to be 65 years of age or older to qualify, but you still can access this program if you have a condition that is expected to last more than one year or is considered fatal.
CoverColorado — This is a state-run program that sells
healthinsurance to a select number of high-risk individuals–people turned down by other Colorado healthinsurance companies due to a serious medical condition or disability.
Get Expert Advice
Let’s face it,
You can source a good agent from friends and family members. As a criteria, a good agent won’t just help you find the right policy; they will provide service before, during, and after the policy has been sold. That means helping you helping you update your plan, being upfront about the rules and limits of your coverage, and helping you sort out claims issues if and when the need arises. In addition, a good agent will monitor your policy over the years to ensure that you are still getting the best value for your premium investment.
Understandably, some people don’t have time to go from agent to agent. If that’s the case, a
Read Your Policies
In the end, its all about knowing what you own. Don’t rely on blind faith that you’re getting the right
Source by Timothy Hebert