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.
When you have to pick your health insurance, know exactly what your choices will cover. Health insurance that will cover incidents like these can make a huge impact on the downtime you might experience.
To save money on your health insurance, see if your company offers an employee wellness program. Many companies offer benefits for those who choose to make important lifestyle changes. You may then be able to sign up for fitness programs, which can help the company save money on its insurance coverage and lower your own premiums.
Open enrollment is a time for you to assess your health care needs. What worked for you in the past might now be inadequate, especially if your health has changed or you need to add someone to your coverage. You should also take advantage of the open enrollment period to make adjustments to your dental and vision care policies if these benefits are offered by your employer.
Usually, individual policies cost more than group coverage that employers provide, so beware. You may have to settle for less coverage, a higher deductible, or both. Look around for the best rates and coverage.
It’s important to have vision insurance if you currently have eye problems, or if vision issues are hereditary in your family. The insurance will likely cover some of the cost of doctor visits as well as a portion of costs related to contact lenses and glasses. Insurance for your vision is not required, and many people find they save money by not having a vision plan if they do not have any risk factors.
You should expect that your insurance will have stipulations and loopholes. Make sure you read the policy thoroughly, so there are no surprises about what it doesn’t cover. Put money aside each month so that you always have funds available to pay for medical procedures that are not covered by your insurance.
Do not ever openly volunteer unsolicited information when your potential medical insurance provider calls in regards to your application. You should answer the questions asked as directly as you can, but no more. If you volunteer extra information they will make a record of it, and may use it to raise your premiums, or even deny you insurance coverage at all.
Take into consideration that some companies will impose a surcharge for carrying your spouse on your health insurance plan if he or she has access to insurance through his or her own employer. In some cases, keeping your coverage separate will result in lower overall costs, so run the numbers for both scenarios.
If you simply don’t visit the doctor enough for insurance to be cost effective, consider opening a Healthcare Savings Account (HSA). 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.
Compare all your options. For instance, group insurance will be less costly but an individual plan will provide you with more choices. Regardless of what you choose, just make sure that you have coverage of some type. Going through life without health insurance is asking for trouble. Something unexpected always seems to pop up at the worst time and that might leave you with no money. Be smart, and research health insurance today.