A lot of people don’t buy health insurance because they feel it is too expensive. Insurance providers offer many different plans, making it hard to know the one you need. This article helps you increase your health insurance knowledge so that you can better choose the best policy for you.
When you are thinking about buying health insurance yourself, be sure you have determined all the costs. Some health care costs are hidden or difficult to understand. Make sure you take deductibles and co-pays into account as well as your premium amounts when determining the entire cost of a health insurance package.
In order to save some cash on health insurance, find out if your company provides a wellness program for its employees. A lot of employers these days give rewards to their workers who participate in health and wellness assessments. You might be able to get lower premiums and sign up for a fitness program for instance.
Open Enrollment
If an open enrollment period is available to you, take advantage of it by reassessing your requirements in a health insurance policy. If your family has grown or someone’s needs have changed, you may have to change your coverage. Open enrollment can also be the best time to change vision and dental coverage if that is offered.
An individual buying a health policy typically costs much more than going with a group policy; keep that in mind and plan accordingly. You may have to settle for less coverage, a higher deductible, or both. Your best bet here is to do a little bit of comparison shopping in order to find the best package.
Vision insurance is wise if you’ve had a history of vision issues in the past, or it’s in your family history. The insurance will likely cover some of the cost of doctor visits as well as a portion of costs related to contact lenses and glasses. Vision insurance is voluntary coverage. There are people that save more money by not having vision insurance than having it.
The way you manage your health care insurance may actually earn you tax breaks around April. Although many people aren’t aware of the fact, health insurance premiums are tax deductible. You can also include all money paid for prescriptions, your deductible, doctor visits, co-pays and any other non-covered medical expense. State and federal taxes can differ, so double check the guidelines.
Do not volunteer any information if you get a phone call from an insurance company. If you have a condition and they don’t ask about it, withold that information. Even if they are legitimate, the information you provide will be recorded and can be used to spike up the premium you pay each month.
Opting for generic, rather than name brand drugs, will save you money. Odds are, most of the time you’ll be able to get generics, and research has regularly demonstrated that they only difference in these drugs is their brand name.
Investigate your prescription coverage by reading your health insurance policy. The list of prescriptions covered changes every year, so read it over each time you renew your policy to see what is and isn’t covered.
Be sure to check with the hospitals and the doctors that you are comfortable with to make sure that they accept the health insurance that you are considering. You can easily check to see if your doctor is listed by checking the insurance provider’s website.
If pregnancy is in your plans for the future, make sure your insurance policy will cover all of your pregnancy-related expenses. You need to know this as some insurance plans do not cover all aspects of the pregnancy and labor.
Keep in mind that insurance companies are money-motivated businesses that will capitalize on consumer ignorance whenever possible. For this reason, it is important for you stay informed. Use your annual open enrollment opportunity to make sure your health insurance policy is still the best option.
