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.
If you’ve recently finished college and are looking for health insurance, you should consider a few things before purchasing any policy. If you have a job, you can use their employee-based insurance. If you are younger than 26, you can remain covered under your parents’ insurance plan, or you can look into personal insurance plans too.
Individual policies usually are much more expensive compared to the group coverage given by employers, so it is advised to plan accordingly. You might find yourself forced to compromise on both coverage and deductible. Shop around to get the best coverage and rates.
Re-assess your prescription coverage every year. Sometimes, insurance companies change which medications they cover. When re-enrollment time comes around, you should always check to make sure your medication is covered. If your medication isn’t covered anymore, you may want to look for another insurance company.
Do not ever openly volunteer unsolicited information when your potential medical insurance provider calls in regards to your application. Just give them answers to the specific questions they ask you. 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.
If you want to get pregnant in the future, ensure your insurance covers the pregnancy costs. You must consider this, as certain health insurance plans exclude prenatal care and labor from their coverage.
Find out if the company will charge you to have your husband or wife on your plan or if it is easier for them to do it through their own work. It is possible that it is simply more affordable with two separate policies, so compare all scenarios.
If you purchase your health insurance with a group plan (through your work), you will notice that your rates will be lower than buying your own personal health insurance. If you’re unemployed or self-employed, consider joining a trade union to take advantage of group health insurance rates.
Catastrophic health coverage is a good option for people who cannot afford a regular, comprehensive insurance policy, but want some kind of coverage in case of a sudden and unexpected accident, injury, or life-threatening illness. It can also be a good addition for anyone’s health care portfolio to give some extra coverage in case of an extreme circumstance.
Whenever you look at health insurance for catastrophic events, do your due diligence. Be sure that all kinds of events are covered by your catastrophic event insurance. Once you have decided, get a Health Savings Account and start making deposits to cover your deductible if the worst should happen.
When the monthly costs of an individual insurance policy and a group insurance insurance policy are compared, the group insurance policy is likely to be cheaper. However, an individual insurance policy is likely to give you more choices. Remember that any type of health insurance is better than nothing. Being without health insurance coverage in this day and age is just asking for trouble. It’s too easy to experience something unexpected that may leave you broke. Be smart, and research all of the health insurance choices available today.