Health insurance is a vital resource that is extremely important to obtain. It is very tempting to put off getting on a health insurance plan and say, “I won’t get sick.” However, without insurance, sickness and emergencies cannot be predicted and cause unnecessary financial costs. The tips below will help guide you on all your questions about the right health insurance.
One of the essential insurance tips is quite simple: never put yourself in a situation where you have no insurance. Even if it means paying extra to your former employer to stay on COBRA, you never want to be without health insurance. Too many contingencies could come up that would quickly put you in a precarious situation. The same is true for auto insurance: never drive uninsured. It’s against the law in many states, so it isn’t just a bad idea; it is a crime in many places.
If you take prescription medications, be sure that your insurance plan covers the cost of these drugs. It’s a good idea to check each year to ensure that your insurer has not changed its coverage for any of your medications. You may also be able to save money by purchasing generic drugs or ordering them by mail.
Consider a low-cost plan if your job is not stable. Government health insurance policies will offer you the same coverage should you lose your job, but you have to cover the entire cost of the premium yourself. In tough times, make sure you can afford to pay your policy should you need to leave your workplace.
Look for a health insurance plan with broad coverage. This is especially important if you like to travel. Insurance companies with smaller coverage can make it challenging to find a doctor should you be outside of your common living area. Broad coverage includes many more doctors and hospitals, so it is a must for travelers.
If a health insurance company representative asks you a question to which you do not know the answer, tell them so. There is no shame in telling them that you are unsure of what they are asking, and they should call your physician to get the proper answer. They may seem frustrated, but that’s okay. Don’t let it bother you.
If you are unsure about what you are reading in the health insurance policy that you are considering, do not hesitate to have someone else read over it. You do not want to be surprised when you learn that something will not be covered and you will have to pay for it out of pocket.
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.
Take advantage of preventative care benefits to save money and, of course, your health. Most preventative screenings and procedures are covered by health insurance at no charge to the enrollee, including vaccinations, so stay up to date on everything your policy provides. By doing this now, you can save a lot later.
When shopping for health insurance, consider how important it is to you to keep your current doctors. Most plans are definite about which doctors you can use, and the lowest cost options may not include your favorite physicians. It’s important to prioritize keeping your current doctor versus the cost of the policy when making your decision.
Before buying a health insurance policy, you should shop around and visit state websites to see if you qualify for any special insurance programs based on your income. These state websites will often list companies that offer low-cost health insurance programs rather than more expensive health insurance plans.
If you don’t have a pre-existing health condition that requires many doctor visits, tests, and prescriptions, you can save a lot of money by purchasing catastrophic health insurance. You pay for coverage of accidents and illnesses that come on suddenly, like cancer or a stroke, that require hospital visits.
When moving to a new state, you need to find out if there are any laws where you now reside that might affect your health insurance coverage. For example, the age of your dependents may cause them to lose coverage on your insurance. Also, whether or not your child is enrolled in school could affect their coverage.
To keep health costs manageable, enroll in a flexible spending account. These pre-tax medical savings plans allow you to put money aside for covered medical expenses and prevent you from paying co-pays or other expenses out of pocket. Because your contributions are pre-tax, flexible spending accounts also reduce your total taxable income.
When it comes to selecting a health insurance plan, you should check the plans you are considering to determine if a doctor or other health provider you are happy with is available under them to keep that relationship covered. Some health plans restrict you to specific providers, so make sure your doctor or provider is in your health plan’s network.
Health insurance expenses are more than just the premium cost each month. Policies typically include a fixed fee each time you visit the doctor or have to go to the hospital. Find out how much this co-pay is, and ask yourself if your plan is worth it.
Don’t procrastinate. Health insurance is a necessity and can save you and your family from financial stress should you get sick. Act now to protect your future. Health insurance is an investment in your life and your family. The tips above help you make a health insurance plan for yourself and your loved ones.
