It’s not uncommon for people to disregard health insurance until they really need it. Most people don’t give health insurance a second thought, fail to understand it, doubt its affordability, or believe it’s not as important as it really is. The following paragraphs contain a wealth of knowledge that you can use to educate yourself on this topic.
If you’ve graduated college recently, consider a couple different things when looking for health insurance. If you are employed, see what insurance options are offered through your employer. You can get on your parents’ insurance if you’re under 26, in which case, you can also use that time to research plans.
Check with your company’s human resources department to see if you qualify for a wellness program for employees. Employers will often offer incentives and bonuses to employees who undergo a health assessment. You could sign up for some fitness programs, so that your company can save on insurance coverage, and possibly lower your premiums.
Individual policies tend to cost quite a bit more than a group plan, so be sure that you plan out your finances accordingly. You might have to get a policy with a higher deductible, less coverage, or both. Get a number of quotes to find the best policy and rates.
Check your prescription coverage yearly. Sometimes health insurers change the medications they will cover, so each year when you re-enroll, review the terms carefully. If a prescription medication that you need to take routinely is not covered by your insurance policy, it’s time for you to find a new health insurance company.
To save on health insurance costs, choose catastrophic coverage instead of comprehensive. Unlike comprehensive insurance, catastrophic coverage has less coverage for routine care, and will only cover “big ticket” costs.
Anticipate that your insurance policy’s language will have at least some loopholes in the coverage it provides. It is essential to read your insurance policy thoroughly to familiarize yourself with what is and what is not covered. Resign yourself to the fact that certain procedures or medications will not be covered if that is the case.
If you receive a telephone call from a health insurance provider during the application process, do not volunteer information. Just give them answers to the specific questions they ask you. If you add any extra information, it will be notated in their records and could result in higher premiums or even a rejection of your application.
It does not matter which type of health insurance you have, everyone will save money if they choose to get generic drugs when filling a prescription. In the majority of cases, you can get generic medication for much less money, and repeated studies prove that generics are identical to the original drugs, except for the drug’s brand names.
Remember that insurance is regulated by the state, and so it cannot be carried over state lines. What this means is that if you have to go to a hospital out of your state, there’s a possibility that you might not be covered. Insurance companies set their own rules, so be sure to find out their policies ahead of time.
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. If you don’t have an employer or they don’t offer insurance, join a trade organization that has negotiated lower premium rates for its members.
Be careful and pay heed to your bills. Even with a health policy, you can still encounter surprising high bills, particularly for prescriptions. Many doctors just write the prescription without even thinking of offering you the option of a generic medication. Be sure to shop around. Generic medications are often less expensive, but different pharmacies may charge different amounts.
With more understanding on insurance, you will make a better decision on which policy is best for your family and life. This subject is much too important to neglect. Health insurance may well be one of the single best purchases you can ever make.