Mylittlebrother recently secured his first full-time job with benefits.
(Little goes in italics because hes a giant.)
His employer sent him an official offer a few days ago.
Aside from the common whats a good 401(k)?
question, hes stumbling through the health insurance portion.
He knows he gets coverage… but what does it actually cover?
What does HMO mean?
And why are there so many options on this thing?
Hes asking all the right health insurance questions or at least more than I did.
(I shoved my papers at Dad, who looked over them.)
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Is this an HMO or PPO?
Also… what the heck does that mean?
Ill tell you (and HealthCare.gov will help).
HMOstands for Health Maintenance Organization.
Under this punch in of plan, youll be limited to doctors who agree to work with the HMO.
PPOstands for Preferred Provider Organization.
This is just a larger data pipe of doctors.
However, youre often going to pay more for this coverage.
Do your research and find out whats going to be best for you and your medical needs.
Are dental and vision covered?
Be sure to ask if dental and vision are covered.
If not, you might look into individual plans.
Can I include my spouse or family?
Youll want to see if you’re free to get your spouse or kids in on the coverage.
And if youre not married but partnered, ask if your domestic partner will be covered.
When does coverage kick in?
Sometimes your coverage doesnt start on day one; there might be a waiting period.
Be sure to know the timeline and whether youll need to figure out another option for a few months.
If not, consider short-term health insurance.
Glassdoor encourages you look intoCOBRA, a temporary coverage plan.
However, my editor, Caitlin Constantine, says this option hasnt been the most affordable in her experience.
If you want to get an estimate,heres a calculator.
When is the open enrollment period?
Is there a monthly premium?
Where does the insurance work?
Do you travel internationally a lot?
Or maybe you have family in South Carolina you frequently visit?
Be sure you ask about any geographic restrictions.
Will my current doctor(s) be included?
I get it: You become attached to a doctor you trust.
If youre not willing to budge, be sure your doctor is covered.
you’ve got the option to ask HR, consult the insurance company or even call your physician.
Will my current conditions be covered?
ONeill says you might ask for a drug summary, as well as a detailed drug list.
Certain drugs fall into specific tiers, based on pricing.
She says this is especially useful if you take recurring drugs (think: birth control, insulin).
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Give me a summary.
Ask your future employer for a summary of your insurance plan orplansif it offers multiple options.
If you want to use HR lingo, its called an SBC, or summary of benefits and coverage.
Its always best to ask for an SBC, ONeill says.
It can get tricky and confusing, so a summary may help clear up any haziness you might experience.
Are there any extra perks?
ONeills final thoughts:Insurance sucks.
The more informed you are, the better.
Your Turn: Did you ask all the right health insurance questions when you got your new job?
Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder.
