Compare Health Insurance Quotes and Plans

Your medical needs determine which plan type saves you the most money. If you visit specialists regularly or take expensive medications, paying higher monthly premiums for better coverage costs less overall than choosing a bare-bones plan with sky-high deductibles. Healthy people who rarely see doctors beyond annual checkups save with high-deductible plans and lower premiums.

Calculate your annual health care spending, including doctor visits, prescriptions, planned procedures and emergency fund for unexpected issues. Then compare that total against each plan's premium plus estimated out-of-pocket costs.

Your current doctors may not accept every plan. Before comparing costs, verify your preferred providers are in-network. Out-of-network care costs 40% to 60% more, even with insurance coverage.

• HMO plans offer lower premiums but restrict you to specific networks and require referrals for specialists.
• PPO plans cost more monthly but let you see any doctor without referrals and cover some out-of-network care.
• EPO plans fall in the middle, with lower costs than PPOs but no out-of-network coverage except emergencies.

Health plans use metal tiers (Bronze, Silver, Gold, Platinum) to show how costs split between you and your insurer. Bronze plans have the lowest premiums but highest deductibles and out-of-pocket costs. Platinum plans charge the most monthly but cover more when you need care.

• Bronze plans work best if you're healthy, have emergency savings and rarely need medical care beyond preventive visits. You'll pay 40% of costs after meeting your deductible.
• Silver plans balance premiums and coverage for most people. You'll pay 30% of costs after your deductible. These plans also qualify for cost-sharing reductions if your income falls below certain thresholds.
• Gold and Platinum plans make sense if you have chronic conditions, take multiple medications or expect major medical expenses. You'll pay 20% or 10% of costs after lower deductibles.

When comparing health insurance quotes, understand these key metrics:

• Premium: Your monthly payment whether you use health care or not. Lower premiums usually mean higher costs when you need care.
• Deductible: What you pay before insurance kicks in. A $3,000 deductible means you cover the first $3,000 of medical costs each year.
• Co-insurance: Your share after meeting the deductible. With 20% co-insurance, you pay $20 of every $100 bill, and insurance covers $80.
• Copay: Fixed amounts for specific services. You may pay $25 per doctor visit or $10 per prescription regardless of the actual cost.
• Out-of-pocket maximum: Your safety net. Once you hit this limit (often $8,000 to $9,000 for individuals), insurance covers 100% of additional costs for the year.

Check each plan's formulary (drug list) to make sure your medications are covered and which tier they're in. Tier 1 drugs cost the least, while Tier 4 and specialty drugs can run hundreds or thousands per month. Some plans won't cover certain medications at all or require prior authorization.

If you take expensive medications, a plan with higher premiums but better drug coverage saves you money compared to cheaper plans with limited formularies.