Many would agree that it’s difficult to not have health insurance nowadays. Purchasing and finding the right plan that caters to your needs may seem like a big problem. Use the information provided here to find the insurance plan that is best for you.
If you just graduated from college, and you need health insurance, you have a couple of different options to think about. If you’ve got a job, use the employee-based insurance it provides. 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.
To save cash on health insurance, ask if you company has wellness programs for their employees. Many companies offer benefits for those who choose to make important lifestyle changes. You might be able to get lower premiums and sign up for a fitness program for instance.
Open Enrollment
During open enrollment, assess your insurance 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. Wait until open enrollment time to make these changes, as well as changes to your vision or dental coverage.
Before you sign up for another year of coverage, ensure your prescriptions are still on the reimbursement list. Due to changing costs in drugs, health insurance companies tend to make changes in the prescriptions that they will cover for their customers from year to year. You may need to request an updated list from your insurance company. If a pill you are using every day is no longer covered, you might want to switch to another insurance company.
Let your health insurance get you money back on your taxes! Not everyone knows that premiums are deductions. Health insurance premiums, prescription costs, deductibles and other expenses not covered by insurance may be deductible on your tax return. Federal taxes are not the same as state taxes, so you should look into the difference.
When you apply for insurance, the company will give you a call. Ensure that you don’t volunteer any information they don’t specifically ask for. Be sure that you are only answering the questions that they ask. When you volunteer too much information, the result could be an increase in your premiums, or at worst, a complete denial of coverage.
Examine your health insurance policy to determine the prescriptions that it covers. Since this prescription list changes often, you should be sure to check it when you enroll again.
Though you may not be aware of it, adding your spouse onto your own health insurance policy at work can trigger fees if similar coverage is available at their own place of employment. It may be less expensive for each of you to get coverage through your own workplaces, so do the calculations to find out which is best.
Of all the different kinds of insurance, health insurance may be the most important. With so many different plans out there, it can be hard to know what plan best fits your needs. Use these tips to choose the right insurance for you.
