Not having health insurance can seem like a great idea until you suffer a serious injury or come down with a chronic illness, as these generally result in high medical expenses. Having a solid health plan is the safest option; use the advice below to pick the best policy for your family.
Calculate all costs of health insurance prior to signing a contract. It is important for you to take the time to understand exactly what your co-pays, premiums and deductibles are when you have health insurance.
See if there’s an employee-wellness program with your company that could possibly save you money on health insurance. A lot of employers offer incentives for employees for having their lifestyles and health assessed. You could then register for exercise programs in order to assist your company in saving money on insurance coverage, which can decrease your premiums.
Catastrophic Coverage
In order to save money, consider getting catastrophic coverage instead of comprehensive. Catastrophic coverage is for emergency uses, and comprehensive coverage is for prescriptions and visits to the doctor.
Expect health insurance policies to have hidden loopholes within the fine print. Read your paperwork thoroughly, so you know what your policy covers and what it does not. There will be things you have to pay for yourself, and knowing what these are ahead of time will save you the headaches.
Regardless of the kind of insurance policy you have, you will save money if you always choose generic prescription drugs. Generic drugs contain the same active ingredients as brand name medications, and are available for most prescription medications.
When shopping for a new health insurance plan, you should carefully consider your individual needs. There are many different plans to choose from, including PPO, POS and HMO. Each has different pros and cons that you should find out and consider before you purchase a policy. You should have the choice to keep your current doctor.
Insurance Company
Also check to see if the doctors and hospitals you are comfortable visiting accept coverage from the insurance company you are considering. The insurance company you are considering will usually post a list of providers in your area who are on their approved list, but it still wouldn’t hurt to call for a confirmation or update.
Be sure to review your bills carefully. Even when having a plan related to health insurance, you could be in for a shock with some bills you weren’t expecting, such as the high cost of some medications. Some doctors will write out their prescriptions with the name brand only, never thinking of the generic. Make sure to compare prices of medications at different pharmacies. Even generic medication prices can vary at different pharmacies.
It is important to have health insurance because life can be very unexpected. At any given moment, you can be involved in an accident, or contract a life threatening illness. Apply the knowledge here to ensure that you are getting adequate coverage at any affordable price.
