• Follow us on Twitter
  • Join our Facebook Group

University Survival

  • Student Success Skills
    • Picking a College
    • Financing Your Education
    • Choosing a Major
    • Preparing for College
    • Managing the Personal Side of the Transition to College
    • Developing Discipline to Do Well
    • Managing the Social Side of College
    • Being an Efficient Learner
    • Taking Tests
    • Ensuring You Receive The Grade You Want
    • Managing Group Projects
    • Becoming a Campus Leader
    • Student Athletes
    • Navigating College Practices
    • Succeeding on Internships and Co-ops
    • Making Critical Decisions
    • Overcoming Challenges for Specific Types of Students
    • Setting Goals
    • Being an International Student In The United States
    • Using Resources
    • Communication Skills for College Graduates
    • Building a Professional Network
    • Using LinkedIn to Develop Your Network
    • Preparing for a Career
    • Understanding Job Protocols
    • Developing Essential Career Skills
    • Becoming a Leader
    • Overcoming Career Challenges
    • Planning for your Financial Future
  • Parent Connections
    • Parent Topics
      • Being a Supportive Parent
      • Making Critical Decisions
      • Financing Your Student’s Education
    • Parent Emails
  • Teacher Resources
  • Resources
  • Community
  • About
You are here: Student Success Skills » Planning for your Financial Future » Evaluating Your Health Care Options

Student Success Skills

Evaluating Your Health Care Options

by jennifer
January 6, 2013

When you sign an employment agreement, you will be giving several health care options to choose from. These will have various features to consider. Outlined below are some of the factors, you may want to consider in your evaluation of which offer to accept.

  1.  Your contribution amount- these will be described as a given dollar amount per month for different coverage situations; yourself, spouse, children. There could also be an extra fee for tobacco users.
  2. Coverage Eligibility- Spouse and family are almost always covered, but a number of plans will also cover non-married partners in a committed relationship including same sex partners.
  3. Annual Deductible- This will be described as an amount per year for you with an additional amount for a spouse and family. Typically higher deductibles will result in less expensive monthly payments into your health plan.
  4. Co-Pays- This will be described as a dollar amount for each visit to a doctor. You will also likely have a separate co-pay for each filled prescription.
  5. Prescription Drug Coverage- You will be given information on coverage. In most cases, you will be reimbursed more if you select generic drugs or drugs on an approved list (the formulary). You may be required to buy maintenance medicine from a specific mail-order pharmacy. You will also be given information of co-pays and the maximum amount that will be paid.
  6. Co-insurance- this will be described as a percentage you will need to pay for each billing after your deductible is paid. This amount could change once you reach a maximum amount you pay for your care.
  7. Wellness Benefits- You may be given a specific amount for such benefits as health club memberships, annual physical exams, and related prevention care practices.
  8. Flexible savings account- this will describe the availability of a flexible savings account and the amount you can contribute each year. 
  9. Vision Care- This section will describe benefits for
    1. Eye exams
    2. Glasses/contacts
    3. Other eye care needs
    4. Coverage eligibility
    5. Co-pays
  10. Dental care- This section will describe benefits for
    1.  Dental hygiene
    2. Dental care
    3. Coverage eligibility
    4. Co-pays 

Now how do you decide what to plan to select?

  1. If you are in good health and are only likely to need just routine care, then select the plan with the minimal cost.
  2. If you decide to use the flexible savings account, be careful you don’t put more money into the account than you are likely to use.
  3. If you have a health condition that is likely to require frequent doctor’s visits and treatment, then select the plan that has a smaller deductible and a higher monthly payment. The monthly payment will come out of your paycheck where the deductible will come out-of-pocket which can create cash flow problems.

 One more thing you might do when evaluating health care options is to talk with employees who are in a similar situation as you are in. There are often the “unstated” features of health plans that you would otherwise not know about..

← Using Koofers.com
Demystifying Health Care Terms →

Suggest a Topic

Looking for a topic and can't find it? Why not submit one...

Suggest a Topic

Share This

Rate This Topic

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Testimonials

  • This semester I have made some big improvements to not only my school work, but to all aspects of college life.  I have become a lot more time efficient.  I have learned a lot of better ways to study, such as making flash cards and using new note taking strategies.  I have also started going to class 15 minutes before it starts so I have time to get all of my stuff organized and ready for class.  I also plan on using my agenda more effectively.  I have really struggled with my time management skills this semester.  They are slightly better this semester compared to last, but not as good as I would have liked them to be at this point.  I have done a lot better with classes this semester though.  I have gone to allmost all of my classes this semester.  I have also done really well with homework..

Sign Up For Student Emails

Enter your email below to get weekly student emails.

  • This field is for validation purposes and should be left unchanged.

Suggest a Topic

Looking for a topic and can't find it? Why not submit one...

Suggest a Topic

Share This

Sign Up For Parent Emails

Enter your email below to get weekly parent emails.

  • This field is for validation purposes and should be left unchanged.

Suggest a Topic

Looking for a topic and can't find it? Why not submit one...

Suggest a Topic
© Copyright - University Survival