Do not approach health insurance with fear. It is true the field is complex and your options are many, but the more you learn, the safer you will feel. Health insurance is similar to healthcare itself. An ounce of prevention is worth a pound of cure. By making smart choices when you select health insurance, you can avoid difficulties in the future.
When you are getting a health care plan, consider the health of your family and yourself. This could lead you to purchasing insurance that has a cheaper premium if you anticipate no health issues. While this is the least-cost method right away, skimping too much on insurance coverage could put you at financial risk if sudden health problems come up.
To save money on your health insurance, see if your company offers an employee wellness program. Lots of employers provide incentives to their employees for getting their health analyzed. You could sign up for some fitness programs, so that your company can save on insurance coverage, and possibly lower your premiums.
Re-assess your prescription coverage every year. Insurance companies will revise their rules regarding prescriptions on a yearly basis, so take the time to read the new rules before you re-enroll. If a regular medication has been dropped and a substitute isn’t acceptable, you may need to find a policy with a different company.
When you are filling out your application with the insurance company over the phone, make sure that you are only providing them with the information that they request. Only give them the health information they specifically ask for. If you give them more information than they have asked for, they will note it in their files and could take what they have learned to charge you more for your premiums or remove your coverage all together.
Examine your health insurance policy to determine the prescriptions that it covers. This list can change each year, so a prescription that is covered one year may not be the next. Be sure to check the list every time you re-enroll.
Also check to see if the doctors and hospitals you are comfortable visiting accept coverage from the insurance company you are considering. You can also easily find a listing of the hospitals and doctors which accept your insurance plan by visiting the insurance company’s website.
If you do not visit the doctor very much, you should look into starting an HSA, or Healthcare Savings Account. This allows a person to save money pre-tax in an account to be used for medical expenses later. The premium savings from a high deductible can go into the account, for example.
Take the time to read your bills in full. Even with health insurance you will get bills that you did not expect. Prescription medications especially can add up to a significant expense that you may not have factored in to your out-of-pocket costs. Many doctors just write out these prescriptions for brand-name meds without mentioning generics. Don’t be afraid to shop around. Generic medication differs in price from location to location.
Opting for a catastrophic coverage requires some research. Not all policies will cover the same catastrophic circumstances, so make sure that you have the policy that covers the ares that you are most concerned about. Once you have selected the policy, you will need a HSA or Health Savings Account where you can make deposits to pay for your deductible should the worst happen.
Getting your pet covered with his or her own insurance policy is sound advice, even if he spends his life inside. There could always be hazards with accidental poisoning and injuries from being indoors, or of course, your pet could always get out and have something happen. Your pet can break teeth, break bones or get sick inside, too!
The point of injury or illness is not the time to learn about deficiencies in your health insurance. Prepare yourself and learn all you can about insurance and your options. Going without health insurance is very risky, but you can remedy that at any point in time.