It is risky to live with no health insurance; you could contract a serious disease or break every bone in your body. With no coverage, you will be left with a stack of medical bills. It is safe to have sufficient health insurance, and these tips can help you get the coverage you need for your family.
Health Insurance
If you have graduated from college and you are in need of health insurance, there are some options for you. If you are employed, you can get health insurance through your job. If you are 26 or under in age, your parents can keep you on their policy, and you may also search for your own insurance as well.
To lower your insurance premiums, see if your employer offers a wellness program for their employees. Many employers provide incentives for the assessment of their employees’ health and lifestyles. By signing up for a fitness program, you can reduce the cost of your health insurance and save money on your premiums.
During open enrollment, assess your insurance needs. As your medical needs and family dynamics change, your health insurance should be adjusted to meet those needs. Open enrollment also gives you the opportunity for making changes to other plans, such as dental or vision.
Vision insurance can be very helpful if you or anyone in your family has vision problems. This type of insurance will take care of a portion of your examination costs plus some of the costs of glasses or contact lenses when purchased. You do not have to have vision insurance, and some choose to save money by not buying this 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 medication you rely on daily is not covered anymore, you may need to find a new insurance carrier.
Your health insurance can help you reduce your taxes. Many people are not aware that your health insurance premiums count as a tax deduction. The money you pay for deductibles, visits or prescriptions that aren’t covered by insurance are also deductible. Federal taxes are not the same as state taxes, so you should look into the difference.
Insurance Companies
Because of interstate commerce laws there are regulations on private insurance companies which prevent them from selling insurance across state lines. This can restrict you from being treated at hospital which is out of your state, because your expenses might not be covered. Insurance companies are fickle that way, so always make sure you find out first.
Some companies charge extra if your spouse is covered under your health insurance when insurance is available at his or her place of employment. It might be cheaper to each have separate coverages with your employers. To find out the right way to go, calculate both scenarios.
If you simply don’t visit the doctor enough for insurance to be cost effective, consider opening a Healthcare Savings Account (HSA). The money you save on not having to pay deductibles and high premiums can be funneled into your HSA and saved for future health needs.
A recommended option for those who can’t afford regular, comprehensive policies but need coverage in the event of an unexpected injury, accident or life-threatening sickness is catastrophic health coverage. It can also be added as an extra to your health coverage.
It is important to always have health insurance to prepare for the unexpected. At any time, you can become ill or be involved in a vehicular accident. So utilize these tips when shopping for health insurance to make sure you find the plan that is most suitable for your family at the best price.
