They may have the impression that only older people or wealthy individuals have it. But one cannot avoid health issues or accidents simply by not planning to have them. As you will soon realize, health insurance is critical.
Calculate all costs of health insurance prior to signing a contract. Add up the total costs, not just the premium, because co-pays and deductible costs will add up pretty quickly.
Save Money
Take advantage of an employee wellness program, if offered, and save money on health insurance. Lots of employers provide incentives to their employees for getting their health analyzed. 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.
Open enrollment is a time for you to assess your health care needs. Although your current policy may have been effective thus far, that may no longer be the case because health situations for you or your dependents may have changed. You might also need a different policy in order to add new people to it. Wait until open enrollment time to make these changes, as well as changes to your vision or dental coverage.
Individual policies usually have higher costs than the group coverage offered by employers, so plan accordingly. You might have to get a smaller coverage or have a higher deductible, and for some people it will be both. As with any service, you should do your research to find the best price and plan.
Keep track of your prescription coverage. 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. It may be time to seek out new insurance if you find that medicines you rely on regularly are suddenly not covered any longer by your plan.
Health Insurance
Be aware of your tax credits for health insurance bills. Few people understand that health insurance premiums are tax-deductible. The money you pay for deductibles, visits or prescriptions that aren’t covered by insurance are also deductible. Be sure to check on the guidelines because state and federal taxes are different.
Generic drugs will always save you money regardless of the type of health insurance coverage you have. There are only rare times you can’t get generic medicine, and most studies show there is not a measurable difference between brand and generic, save the name.
You need to review your health insurance policy to see if any prescriptions are covered in the policy. 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.
If you plan on getting pregnant in the near future, it is important that you get a health insurance plan that will pay all of your expenses, from pregnancy to labor and delivery. This is vital to know since many insurance plans don’t cover certain things for pregnancy and labor.
If you simply don’t visit the doctor enough for insurance to be cost effective, consider opening a Healthcare Savings Account (HSA). You can save money you do not pay on insurance, and it can go straight into this account to pay for medicines and doctors, if needed.
Health Insurance
Even a modest health insurance policy is better than not having any health insurance at all. Having health insurance is extremely important and can be the difference between life and death, you must realize it before it is too late. It will always be to your advantage to be prepared ahead of time. Health insurance isn’t cheap, but it’s nothing compared to what your regret can cost you.
