It’s hard to find good help these days, but one way to get the very best people to work for you is to offer them a good health insurance plan. In today’s economy, it’s hard enough to make ends meet, even with a good paycheck. The cost of health insurance is prohibitive to most people; however, you can take advantage of reduced rates by purchasing a group health insurance plan for your employees as an employer. This is a perk that will help you attract and keep good workers.
Avoid being turned down for insurance or paying astronomical rates by avoiding dangerous, risky activities like racing cars, rodeo riding, skydiving, bungee jumping, scuba diving, kiteboarding, etc.! If you have a dangerous hobby, don’t keep it a secret. Be sure to tell your insurance agent about it right upfront. If you are injured while participating in your dangerous hobby, you will have insurance coverage. If you don’t tell your insurance agent, you could lose your coverage.
Before you fill a prescription to be covered by your health insurance, check to see if there’s a less-expensive generic program. Many large pharmacy chains and discount stores with pharmacies offer low-cost generics of specific drugs. Depending on your coverage, it may be cheaper to use that discount than to submit your prescription claim to your insurance.
Help keep your portion of health insurance costs low by taking advantage of perks your employer may offer. For example, a company may offer a rebate of the cost of one monthly premium when you provide proof of a preventative checkup. Read your employee manual or talk to HR to see what incentives your company offers.
Dental insurance can help cut the cost of dental repairs. Your teeth are a significant part of your health but costly for most people. Having dental insurance will help cut the total cost of all your dental work to afford to have a healthy mouth.
Understand your and your family’s health status when shopping for insurance. If you are a single healthy person, you can take the risk and go for a low-cost, super-high, deductible plan, as the odds are that you will not need to use it as often. If you have a history of illness or children, you will want to pay a little more per month for a lower deductible.
Get health insurance through a group. Whether it be an employee group, a union association, or other organization that works with specific categories of people, check to see if they have health insurance. If you sign up for it as a group member, many groups offer discounted health insurance policies, so join up!
Preemptive care is perhaps your best bet if you hope to save money on your health insurance policy in the long term. If you think you’re coming down with any serious illness, it’s better to get checked out beforehand than wait until it happens. Many illnesses out there can be treated in their early stages a lot more effectively.
Find the health insurance for your needs. HMOs and PPOs are common choices but don’t count out POS plans because of their acronym. Consider all the options offered by each health insurance plan before deciding which one to purchase. Check to make sure your doctor will be covered under their plan.
Understand your state’s laws and regulations when looking for health insurance. Some states offer protection for people with pre-existing conditions, while others don’t. By knowing the rules, you will get the best health insurance possible.
You need to periodically review the health care coverages of your employer, significantly if your company has changed health insurers over the years. Often, coverages will have changed in a way that will come as a nasty surprise if you aren’t aware of them. When the company changes, read the full description of plan benefits carefully.
Health insurance deductibles run out at the end of the calendar year. Therefore, if you have appointments to make for medical or dental, do everything you can to get that work done before December 31. Otherwise, the cost will be added to the following year’s deductible. Some medical/dental offices will cut you a break and allow you to pay them in advance for work you need to be done early in the new year; ask if they will, and thank them if they offer it.
If you receive a medical bill that seems way too expensive, you may be able to negotiate a portion of it away! An office manager is often very reasonable, and if you can explain the excessive nature of a bill, they may be willing to reduce the price. Mistakes are made, and chances are your bill received an extra charge somewhere that was not warranted, so ask, and you may receive!
Before changing your insurance policy or provider, collect pertinent information regarding your existing plan. You should know your policy costs and the deductibles and coverages. Keep all these facts about your current plan together to compare them with new plans more easily.
Before signing up for a health insurance plan, you should compare at least 3 different quotes with different companies to ensure you are getting the best price available. Don’t bother with discount cards and indemnity plans unless you cannot get a complete medical insurance plan, and those are your only options.
With a good group health insurance plan, you will have happy and well-motivated employees. Even though purchasing group health insurance may seem like an extravagant expense, you will surely see excellent returns on your investment when you eliminate the problem of frequent employee turnover and employee dissatisfaction. Additionally, by taking care of your employees, you will be creating a work environment that you and everyone in your office will look forward to being a part of.
