Do not approach health insurance with fear. It is true the field is complex and your options are many, but the more you learn, the safer you will feel. Health insurance is similar to healthcare itself. An ounce of prevention is worth a pound of cure. By making smart choices when you select health insurance, you can avoid difficulties in the future.
Having finally graduated from college, it’s time to start checking into things such as health care coverage. If you are employed by a large enough business, you are probably eligible for company provided coverage. You can get on your parents’ insurance if you’re under 26, in which case, you can also use that time to research plans.
Check out your company’s wellness program, if they offer one, to save money. Some companies offer discounted gym memberships and reduced rates for preventative medical care. You may then be able to sign up for fitness programs, which can help the company save money on its insurance coverage and lower your own premiums.
Use health insurance to pay less on taxes! Few people understand that health insurance premiums are tax-deductible. Any money you pay for your deductible, co-pay, or even prescriptions are claimable as well. Because state and federal tax regulations vary for these deductions, you’ll want to check your state guidelines first.
Regardless of your prescription insurance plan, you can save more money at the pharmacy by requesting generic medications. In most cases, you can get generics, and generally there isn’t a difference between these and the brand names anyway.
Interstate commerce laws prevent you from getting a policy designed for another state. Always make sure that you know which doctors and hospitals are covered by your plan. Insurance companies will use any excuse to deny coverage, so make sure you know what your policy says before you travel.
Make sure you choose a plan that covers any medications you currently take, as well as the basics, like antibiotics. This list can change each year, so a prescription that is covered one year may not be the next. Be sure to check the list every time you re-enroll.
Make sure you know which hospitals and doctors are covered under your health insurance. If a practitioner that you favor doesn’t take your plan, you may need to keep looking. Finding a list of the doctors and hospitals that accept this insurance is as easy as checking the site of the insurance provider you are considering.
Keep in mind that some employers will charge an additional fee, known as a spousal surcharge, if you add a spouse to your plan whose employer also provides health insurance coverage. Perhaps getting two separate plans through the respective employers would be more affordable, so calculate both options.
Group plans are ultimately cheaper over time, and this is the reason why insurance rates are cheaper with an employer than for those who provide their own insurance. The best way to get cheaper insurance for yourself is to find a trade organization to join that offers health insurance to its members.
Take the time to read your bills in full. Even with health insurance, things such as prescriptions might add surprises to your medical bills. Some doctors simply write out a prescription without considering the generic version of the medication. Make sure to compare prices of medications at different pharmacies. Different pharmacies have varying prices on generic medications.
When you are in the hospital, you do not want to suddenly find out that your health insurance will not cover you. Before you experience a major illness, you need to prepare yourself to have the best health insurance for your situation. You may find out that you have poor health insurance, but that is something that you can rectify at any time!