When comparing insurance options, what financial factors, besides the monthly premium, should beneficiaries quantify using counselor guidance?

Higher co-pays or deductibles that shift financial responsibility

Beneficiaries are advised that focusing solely on a lower monthly premium can be misleading regarding true out-of-pocket costs. A plan with a seemingly lower premium might compensate by imposing significantly higher co-pays or deductibles, thereby shifting more financial responsibility onto the individual throughout the year. SHINE counselors are specifically trained to help beneficiaries quantify these differences by calculating potential total costs based on their expected medical usage for the upcoming year. This method allows for a more accurate, side-by-side comparison that integrates premiums, deductibles, and co-pays to reveal the total projected financial commitment of different coverage options.