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.
Your choice of health insurance hinges on what it covers. Having the coverage that will cover incidents like these will make all the difference in the affordability of any downtime that you may incur.
When thinking about a health insurance policy from your job, think about your health and your family’s health. If you have no current health issues, you may get a policy that has a cheaper premium. While it starts cheap, it’s risky if something unexpected happens to your health.
It is important to plan for the higher cost of an individual policy versus a group policy often offered by employers. You might have to choose an insurance with a bigger deductible, or one that has a less coverage, or both. Get a number of quotes to find the best policy and rates.
Check your prescription coverage yearly. Prescription coverage is subject to change in most insurance policies. You should double-check all terms so you don’t get surprised after you’ve renewed your coverage. If your medication isn’t covered anymore, you may want to look for another insurance company.
A cheaper alternative to comprehensive insurance is catastrophic coverage. Comprehensive coverage will give you prescriptions and doctors visits, but catastrophic will cover more expensive medical bills from hospital stays or emergency room visits.
If you plan on getting pregnant in the near future, it is important that you get a health insurance plan that will pay all of your expenses, from pregnancy to labor and delivery. If you don’t focus on this in particular when shopping for a plan, your insurance might not cover every part of pregnancy and labor.
Being part of a larger group works to save you money on coverage, which is why policies cost less when received through your workplace than when you purchase them independently. The best way to avoid high individual rates is to join a trade group which offers insurance to members.
Be mindful of your bills. You may think that because you have health insurance that the additional costs you have to pay will be low. In some cases though, this can be wrong, especially when the cost of prescriptions are taken into consideration. Sometimes, doctors will write a prescription and won’t consider a generic version. Be sure to shop around. Generic medications can vary in each pharmacy.
Catastrophic coverage is insurance that covers sudden, unexpected injuries or illnesses that are life threatening. This option is good for those who can’t afford comprehensive insurance. Catastrophic health coverage is an excellent addition to existing health coverage as well. It gives extra coverage in extreme situations.
If you are considering purchasing catastrophic health insurance, check up on the details of what is covered by this option. Make sure it covers the events that are of concern. Once you have chosen your plan, start a HSA (health savings account) and make deposits that will cover your deductible, just in case the worst does happen.
Even if your pet lives entirely indoors, it is a very good idea to get pet health insurance. Your pet could hurt itself or get sick even if it stays inside the house. Even inside, pets can suffer broken bones or teeth from a fall.
Looking at both group and individual health insurance, you will see that group rates are generally cheaper. However, you might also find that an individual plan gives you more options. Whatever option you choose, the most important thing is to have some form of health insurance in place. In these times, living without health insurance coverage is flirting with disaster. An unforeseen event that could yield you penniless could happen at any time. Be astute, and do a lot of research on the best health insurance options for you.