Staying In-Network: The Key to Cost Savings and Better Healthcare
*This Radiohead album art looking image encapsulates the idea of a medical network
Choosing the right health insurance plan can be a daunting task, but one of the most important factors to consider is whether your preferred healthcare providers are in the plan's network. In-network providers have contracted with your health insurance company to provide healthcare services at a discounted rate, which can result in significant cost savings for you. Here's what you need to know about staying in-network:
What is an in-network provider?
An in-network provider is a healthcare provider, such as a doctor or hospital, that has contracted with your health insurance company to provide services at a discounted rate. This means that if you receive care from an in-network provider, you will pay less out of pocket for your healthcare expenses. In contrast, an out-of-network provider is not contracted with your health insurance company and may charge higher rates for their services.
Why is it important to stay in-network?
Staying in-network is important for several reasons:
Cost savings: When you receive care from an in-network provider, your health insurance company will pay a portion of the cost of your care, and you will pay a copay or coinsurance. The contracted rate with in-network providers is typically lower, which means you'll pay less out of pocket for your healthcare expenses.
Predictable costs: When you choose an in-network provider, you know what your healthcare costs will be upfront. You can check your health insurance plan's website or call your health insurance company to find out which providers are in-network.
Better coordination of care: In-network providers are more likely to communicate with each other and coordinate your care. This can help ensure that you receive the right care at the right time and avoid unnecessary treatments.
Fewer surprises: When you receive care from an out-of-network provider, you may be billed for the difference between the provider's charges and your health insurance plan's allowed amount. This can result in unexpected bills and financial stress.
How can you stay in-network?
Staying in-network is relatively easy if you take a few steps:
Check your health insurance plan's website or call your health insurance company to find out which providers are in-network.
Choose a primary care physician who is in-network and can refer you to other in-network providers as needed.
If you need a specialist, ask your primary care physician to refer you to an in-network provider.
If you're traveling or have an emergency, seek care at the nearest medical facility. If possible, check with your health insurance company first to make sure the facility is in-network.
Staying in-network is a crucial aspect of choosing the right health insurance plan. It can result in cost savings, predictable costs, better coordination of care, and fewer surprises. Take the time to research your health insurance plan's network before you need care, and choose in-network providers whenever possible. Doing so can help you stay healthy and financially secure.