Consider The Following Factors In Choosing Your Health Insurance

by Business Watch Team
Mental Health

Choosing affordable health insurance is a crucial decision that requires careful consideration of various factors to ensure you get the coverage you need without breaking the bank.

The truth is that healthcare in Kenya is not that cheap and often out of reach for millions of Kenyans. Many have run into poverty and debts due to high hospital bills.

We had a sit-down with a representative from Jubilee Health Insurance which offers an affordable health insurance cover called COVERBORA that requires one to only part with 6,200 shillings annually. She told us five essential things to consider before selecting an affordable health insurance plan:

Coverage Needs:

Assess your health and lifestyle to determine the coverage you need. Consider factors such as your age, pre-existing conditions, family size, and any anticipated medical expenses. Different insurance plans offer varying levels of coverage, so it’s essential to choose a plan that meets your specific needs.

If you rarely visit the doctor and are generally healthy, a plan with lower premiums and higher out-of-pocket costs might be suitable. However, if you have ongoing health issues or a family to consider, a more comprehensive plan with higher premiums and lower out-of-pocket costs may be a better fit.

Network of Providers:

Check the network of healthcare providers associated with each insurance plan. In-network providers usually offer lower costs for services compared to out-of-network providers.

Ensure that your preferred doctors, specialists, and hospitals are included in the network to avoid unexpected expenses. If you have a specific healthcare provider you want to continue seeing, it’s crucial to confirm their inclusion in the network of the insurance plan you’re considering.

Out-of-Pocket Costs:

Understand the out-of-pocket costs associated with each plan, including deductibles, copayments, and coinsurance. While a plan with lower premiums may seem more affordable upfront, it could have higher out-of-pocket costs when you need medical services.

Consider your budget and potential healthcare needs to strike a balance between premiums and out-of-pocket expenses. Some plans may offer preventative services at no additional cost, so factor in these benefits when comparing plans.

Prescription Medication Coverage:

If you take prescription medications regularly, review the coverage for prescription drugs under each insurance plan. Check the formulary, which is the list of covered medications, and assess whether your prescriptions are included. Some plans may have tiered pricing for medications, with different copayment or coinsurance rates. Understanding the prescription drug coverage is essential to avoid unexpected costs related to your medications.

Financial Assistance and Subsidies:

Investigate whether you qualify for any financial assistance programs or subsidies to help reduce the cost of health insurance. Government programs such as SHIF may be available based on your income and family size. Utilizing these programs can significantly lower your out-of-pocket expenses and make health insurance more affordable.

Visit Jubilee Health Insurance Today through

Related Content: Unpacking Kenya’s Health Insurance And The Way Forward

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