Your 15min Health Insurance Guide

In a survey conducted by Aetna earlier this year, 69 percent of consumers were ill-informed or completely uninformed about available health insurance plans and how they work. With an increase in the number of people looking towards individual health plans for their health insurance needs (due to a loss of employee coverage of expiration of COBRA benefits), the need for improved health insurance education has been obvious.

There are two such quick and easy resources available that I know of, both provided by Aetna (who conducted this study and subsequently helped create these resources.)

“15-Minute Health Insurance Guide”(www.healthguidein15.com) -- consumers can learn the basics of shopping for individual health insurance in this short amount of time.

The guide focuses on the important aspects that consumers need to consider when purchasing an individual health insurance plan, such as the coverage the plan will provide for preventive care, doctor’s visits, prescription medication and more. It also describes the different parts of a plan that factor into the total cost, such as premiums, deductibles, co-pays and coinsurance, and maximum out-of-pocket payments.

In addition to the introductory section on coverage and cost, the brief chapters of the 15-Minute Health Insurance Guide are:
- Premiums and Deductibles -- gives a definition of these terms and describes how they are related.
- “Co” Considerations – provides details on coinsurance and co-pays and how insurers and members share the cost of health care services.
- Hospitals and Networks – describes how people can save money by receiving care from in-network health care providers.
- Stay Well – emphasizes the importance of preventive care and that many insurers offer discounts on things such as weight management programs and gym memberships.
- Rx – contains information on the differences between generic and brand-name prescription drugs, as well as a definition of a prescription drug formulary.
- What to Focus On – includes resources on how people can compare the different companies that offer individual insurance.
- Take the Next Step – shows the various options people can use to purchase a plan, such as directly through an insurer or using a health insurance broker.

There is also a separate downloadable section in the guide that has “7 Top Tips,” which offers a written summary of some of the most important points made throughout the interactive version.

Additionally, you can order a copy of the second edition of Navigating Your Health Benefits For Dummies. The updated version of this very successful guide includes new information on topics such as how to navigate health benefits after a layoff. This information is also available on the Plan for Your Health website. Consumers can order a free copy of the guide on the website as well.