Illinois Health Insurance - Which Plan is Best?

That’s a loaded question. Selecting an Illinois health insurance plan which is best for your family is going to depend on what your family needs are and what you are trying to accomplish. Are you more interested in a traditional style plan design with doctor office co-pays and prescription drugs or are you more interested in a high deductible health plan with a health savings account? If for example you are trying to cover yourself on a worst case scenario basis, I would recommend a high deductible with a health savings account. On the other hand if you have small children, for example, who are constantly sick and are going to the doctors all the time a more traditional plan with doctor co-pays would probably be better.

Most traditional PPO plans have deductibles that have to be met first and co-insurance levels after that until you reach your out of pocket maximum. Some Illinois health insurance carriers offer doctor office visits and prescriptions drugs up front without having to meet your deductible first and some do not. It varies by carrier and deductible level. Here is where it can be a bit confusing because every carrier is a little different. That’s where it is very beneficial to have a good agent or broker who is licensed with multiple carriers so they can show you the differences between the plans and premiums. That way you can better decide which carrier and which deductible would be a better fit for your family. A lot goes into picking the best policy possible. But don’t let it scare you; it’s not exactly rocket science either. The more risk you are willing to take with higher deductibles the lower your premium will be. From there it’s just a matter of figuring out what benefits you need up front without having to meet your deductible first. The one benefit I recommend is having a carrier which offers a very good routine annual physical or wellness benefit. The amount of this benefit can also vary by carrier and state mandates. Be sure to ask your agent what it all covers.

Another very good way to pick the best plan possible is to do a side by side comparison of the plans you think you might be interested in. Some agents like me use quoting engines that allow you to compare all the benefits of different plans and different carriers. In my opinion this is by far the best way to go. You can truly compare every benefit by line item to see which plan is the best for you. This will not only compare the plan designs but also the premium and the network availability.

Before making your final decision on which health insurance carrier you like, make absolutely sure the network is a good fit. You can do this by going to the networks website and doing a provider search or ask your agent to do this for you. Any carrier is going to be pretty much worthless if none of the doctors you want to see are in network. So which plan is best for you? It’s time to seek out an agent that specializes in health insurance.

Randy Gillespie is the owner of Focus Insurance Group, specializing in Illinois Health Insurance.