Health insurance is a must-have in the event you have a serious medical emergency. You never know when disaster will strike in the form of illness, accident or injury. If you aren’t prepared with a good health insurance plan, you could stand to lose everything. If you have a good health plan in place, you can rest easy that your expenses will be taken care of. You have a couple of choices when it comes to purchasing health insurance. You can go with an individual plan, or if your employer offers group insurance, you can save money by choosing that plan.
If you graduated from college recently and shopping for health insurance, then you can choose from a few different options. You can use employee-based insurance if you’ve got a job. Or, if you’re under twenty-six, you can remain on the insurance plan of your parents.
Individual policies usually have higher costs than the group coverage offered by employers, so plan accordingly. You might find yourself forced to compromise on both coverage and deductible. Get quotes from several different insurance companies to find the best rates and coverage.
Examine your prescription drug coverage on a yearly basis. Health insurance companies tend to change the medications they cover, so see to it that you read the contract’s fine print each time you re-enroll. If a pill you are using every day is no longer covered, you might want to switch to another insurance company.
Choose catastrophic insurance coverage over comprehensive to lower your premiums. Comprehensive health insurance covers everything, whereas catastrophic coverage only covers a visit to the emergency room or hospital care.
Regardless of your prescription insurance plan, you can save more money at the pharmacy by requesting generic medications. There are only rare times you can’t get generic medicine, and most studies show there is not a measurable difference between brand and generic, save the name.
If you want to get pregnant in the future, ensure your insurance covers the pregnancy costs. You need to know this because there are health insurance plans that don’t cover all parts of pregnancy and labor.
If you do not make regular visits to the doctor consider getting an Health Savings Account. Any dollars you save towards deductibles, premiums and copays can get saved in an HSA and applied towards future medical expenses.
Since it is cheaper for you in the long run if you are part of a group plan, that is why your rates seem lower when you work for an employer than when you get insurance on your own. The best way around that is to join some type of trade organization that offers insurance to its members.
It’s important that you review your medical bills every time you receive one. Even when covered by a full-fledged medical plan, the bills that pop up can catch you off guard, especially in regards to prescriptions. Some doctors don’t think of generic (and cheaper) versions of medications, and just prescribe the brand name medicine. Also make sure that you shop around. Generic medications can vary in each pharmacy.
Research your particular situation thoroughly if you’re attempting to purchase health insurance with a pre-existing health problem. You may not even be approved with certain conditions, and some companies will approve you and then charge you a massive premium surcharge. By researching all of your options, you’ll be able to choose the best coverage for the lowest premium.
When you are comparing insurance plans, you may see that you will pay less with a group plan, but if you have an individual plan you will have more choices. Either way, the most important factor is that you have some type of health insurance coverage. Being uninsured in these times means you are running a serious risk. If you suddenly fall ill, the costs could devour your savings in no time. Be astute, and do a lot of research on the best health insurance options for you.