Whether you are looking to buy a new policy, combine policies, or seeking better coverage or lower rates, you may have some questions about the very important decision you are about to make. There are a lot of tips here to help you stay away from mistakes that can cost you a lot.
When you are considering an insurance plan that is offered by your employer, think about the health of yourself and your family. If you have no current health issues, you may get a policy that has a cheaper premium. This will save you money in the short term, but may cost you if you have an accident or a medical issue appears later.
If you’ve graduated college recently, consider a couple different things when looking for health insurance. You may be able to get health insurance from your employer, if you have one. You can also consider your parents’ insurance if you are below 26 years of age. If nothing else works, there are a ton of personal plans available through insurance companies, too.
Evaluate what your health insurance needs are so you’ll be ready when open enrollment time is near. Just because something worked for you previously, it might not work now, especially if you have different health care needs. During the period of open enrollment is when you can make changes to vision and dental insurance if that is something your employer offers.
If issues with your vision have arisen, or if there are hereditary factors that could cause problems in the future, consider an insurance policy that covers vision. Vision insurance will help you afford your annual eye exam and your eyeglasses or contact lenses. This kind of coverage is not mandatory, and those that purchase it, but do not need it, may wind up spending more money than those who don’t get it.
You should review your prescription coverage every year. Some insurance companies will change the kind of medication they cover or the pharmacies where you can get your prescriptions at. It is important to be aware of these sorts of changes when you are considering re-enrollment. If you need medication on a regular basis and your insurance company no longer covers it, you need to find a new insurer.
Choose catastrophic insurance coverage over comprehensive to lower your premiums. Unlike comprehensive insurance, catastrophic coverage has less coverage for routine care, and will only cover “big ticket” costs.
Do not volunteer any information if you get a phone call from an insurance company. Give responses only to specific queries they have made. When you volunteer too much information, the result could be an increase in your premiums, or at worst, a complete denial of coverage.
Each state regulates its own health insurance, so you cannot buy health insurance in a different state than the one in which you reside. This could mean that you are not covered if you need to visit a hospital out of state. Make sure you review your policy carefully to determine if you are covered out of your state.
If you are someone who don’t use the doctor often, you should look into a HSA or Health Savings Account. You can save money you do not pay on insurance, and it can go straight into this account to pay for medicines and doctors, if needed.
Pay very close attention to each aspect of your bill. Though you may believe your insurance plan is a fixed rate that you pay in premiums, you will be surprised by the charges that will pop up from time to time. Some of these surprise charges can really add up, such as those for prescribed medications. Some physicians just write out prescriptions without taking into account the generic version related to the medication. Be sure to shop around. One generic medicine can be a different price, depending on the pharmacy where it is purchased.
This information should better arm you to find the proper health insurance policy. Health insurance is complex but not beyond the realm of understanding. You will be able to spend your money wisely and have the peace of mind that the correct health insurance plan can bring.