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How to Find the Right Insurance

In the first half of 2020, around 43 percent of U.S. adults ages 19 to 64 were inadequately insured. Comparing healthcare insurance policies is essential to find an affordable plan where the insurance picks up the larger share of the cost, and you pay lower out-of-pocket premiums. 

You will have to compare deductibles, premiums, and the type of medical service you get. If you are about to buy health insurance, here are three things you should consider: 

Match consumption to your deductible

According to a study, over 80% of the employees at Fortune 100 companies pick the wrong healthcare plans, often choosing low-deductible options that ultimately cost them more. Experts recommend healthy people who rarely visit the doctor to buy high deductible plans because they have lower premiums. 

However, high deductible plans are also suitable for people who have to see their physician frequently. Parents of young children or people who have chronic health conditions often spend so much on care that they can easily meet a higher deductible.  However, if you don’t have enough savings to cover medical costs until the deductible is satisfied, consider spending more on a lower-deductible plan.


It’s the cost you have to pay on top of the premium each time you go to a doctor or health specialist. Copay also applies to urgent care visits, Emergency Room visits, and prescription drug purchases. Copay or co-payments are not applicable towards your deductible, and it’s your financial responsibility even after meeting your deductible.

The copay costs depend on your monthly premium for the health insurance policy. The relation is such that the higher the premium, the lower the copay. So if you take prescription medication or require frequent doctor appointments, it would be wise to invest in a lower copay plan.

Health plan types

  1. Health Maintenance Organization (HMO): They require primary care provider referrals and won’t pay for care received out-of-network except in emergencies. However, you’ll have to pay lower monthly premiums than a plan with similar benefits but fewer network restrictions.
  2. Preferred Provider Organization (PPO): They prefer that you use their network of providers. However, unlike HMO, they’ll still pay for out-of-network care. As they have fewer restrictions than other plans, you’ll have to pay a higher monthly premium that might require higher cost-sharing.
  3. Point of Service Plans (POS): These plans require you to have a primary care provider for preventative care visits and get referrals. Although, visits outside those primary care providers often require you to pay the deductible first.
  4. Exclusive Provider Organization (EPO): They have a network of providers that you have to use exclusively, and EPO won’t pay if you go to someone else. You don’t have to take a referral from a primary care physician to visit a specialist.

About Broker Brothers and Co. 

If you want to buy health insurance for yourself and your family, Broker Brothers & Co. is your one-stop solution. We are an independent insurance agency that can help you with all your insurance requirements; We specialize in helping families, individuals, and businesses find the best insurance at the lowest cost. You can call us at (859) 620 9733 or email at [email protected] to know more.