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.
Before opting into your company’s health care pool plan, you should first focus on the health of you and your family to see if this type of plan is right for you. You might be drawn to buy insurance with a lower premium if none of you have any health issues. This will save you money in the short term, but may cost you if you have an accident or a medical issue appears later.
To keep your medical coverage affordable, inquire as to whether or not your employer has a wellness program you can participate in. Lots of employers provide incentives to their employees for getting their health analyzed. By doing this, you can then enroll in fitness programs. This provides your company with savings on insurance coverage, which, in turn, reduces your premiums.
Usually, individual policies cost more than group coverage that employers provide, so beware. You might find yourself forced to compromise on both coverage and deductible. Your best bet here is to do a little bit of comparison shopping in order to find the best package.
Vision insurance makess sense for you and your family, especially if anyone already has issues with vision, or eye problems run in your family. The insurance covers all or most of your check-ups plus contacts or glasses. Vision insurance is not mandatory, and some people spend less money not having this type of coverage.
To save the most money possible on health insurance premiums, consider catastrophic coverage instead of a more comprehensive one. While comprehensive covers doctor visits and prescriptions, catastrophic coverage covers hospital visits and emergency care.
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. Answer only questions which are directly asked. 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.
Regardless of your prescription insurance plan, you can save more money at the pharmacy by requesting generic medications. There are a few instances that you won’t be able to get generics, but using them is no different than using the brand name, as studies have shown.
Figure out which insurance plan best fits your health needs. Different options that you are going to have are POS, PPO and HMO. They’ll have various options you should research before making a selection. Importantly, double-check that your current doctor is available for use in any plan you are considering.
Check your health insurance plan to learn about what prescriptions are going to be covered under it. 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.
Although group insurance can be cheaper each month, individual plans have more options. The main thing to remember about health insurance is that you must have something in place. Being uninsured could cause severe financial hardship at a moment’s notice. Even a seemingly minor incident could drain you financially. Be smart, and do your homework about the health coverage choices available.