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Choosing your health plan
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October 20, 1997: 2:44 p.m. ET
Watch out for new company offerings and changes in your current coverage
From Correspondent Greg Clarkin
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NEW YORK (CNNfn) - In offices around the country, employees are in the midst of choosing their health care benefits for next year. Your health plan can turn out to be of critical importance, so consider all options.
What's at stake? In the case of an accident, hospital expenses can vary by thousands of dollars depending on which plan you choose. And your plan may not allow your doctor to refer you to the nation's top specialists if you are diagnosed with cancer.
"This is your life. This is your income. This is your protection against catastrophic and unexpected events and expenses," says Joseph Martingale, Towers Perrin Employee Benefits consultant.
Be cautious about simply defaulting to your previous choices without investigating the new ones. Your doctor may now be part of the HMO network, your so-called "traditional" health plan may be running more like managed care, and your company now may offer hybrid choices such as point-of-service plans and preferred provider plans that let you see doctors of your choice.
"Some people make the false assumption that the highest quality plan is going to be the one that costs the most. That isn't necessarily true," says Martingale.
Ask your employer about patient satisfaction surveys and quality rankings. Ask others how they fared when they got sick.
"They could ask their families, their friends, their doctor. They could also check with the National Committee for Quality Assurance, which has a ranking of health care plans," says Employee Benefit Research Institute's Paul Fronstin.
Other key issues: your doctor may be in two plans but one may permit him or her to give you superior care. Ask about each plan's system of providing benefits. Baby care, prescription drugs and mental health care are just some of the areas with varying coverage. Be sure to analyze your needs and pick a plan accordingly.
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