Whether you are new to the insurance world, wanting to combine your policies, or shopping for better rates or coverage, you probably have some uncertainty about what choices to make. There are a lot of tips here to help you stay away from mistakes that can cost you a lot.
A good money saving tip for health insurance is to ask your company if they offer an employee wellness plan. More and more companies are starting to offer incentives to employees who agree to have a health and lifestyle assessment. By doing this, you can then enroll in fitness programs. This provides your company with savings on insurance coverage, which, in turn, reduces your premiums.
Purchasing insurance on your own often results in higher policy costs compared to group plans offered through an employer. You might have to choose an insurance with a bigger deductible, or one that has a less coverage, or both. Every insurer will evaluate you differently, so it’s well worth your time to shop several insurers until you find the cheapest rates for the most coverage.
If you or your family has vision problems, you will want to consider coverage for this. This insurance covers some of your contacts, glasses and check-ups. Vision insurance is not something that you have to have, so it may cost you more to get the coverage.
It is wise to look over your prescription insurance plan at least once a year. Health insurance companies like to change what medications they are willing to cover, so make sure you read the fine print every time you re-enroll. If a pill you are using every day is no longer covered, you might want to switch to another insurance company.
No matter the coverage you have, if you choose generic drugs all the time you will save money on health insurance. There are a few instances that you won’t be able to get generics, but using them is no different than using the brand name, as studies have shown.
You should realize that states regulate private insurance, so it is not possible to purchase it across state lines because of interstate commerce laws. Depending on your rules, a hospital in another state could be outside of your coverage area. Insurance companies are very particular about this, so make sure that you understand your policy.
Also check to see if the doctors and hospitals you are comfortable visiting accept coverage from the insurance company you are considering. Typically insurance companies have a list of hospitals and doctors that they cover on their website. If they do not, you can request it from them.
Starting a personal Health Savings Account or HSA is a good idea if you are among the lucky few that rarely goes to a doctor’s office. All the money that is saved from paying deductibles and premiums can be added to this account and you can use this for medical expenses when they come up.
These tips should have bolstered your ability to review various policies, and select the plan that fits your health insurance needs. Not only will you save money on your health insurance, but you’ll feel more at peace knowing that you have coverage for all your health care needs.