Health insurance is a must-have in the event you have a serious medical emergency. You never know when disaster will strike in the form of illness, accident or injury. If you aren’t prepared with a good health insurance plan, you could stand to lose everything. If you have a good health plan in place, you can rest easy that your expenses will be taken care of. You have a couple of choices when it comes to purchasing health insurance. You can go with an individual plan, or if your employer offers group insurance, you can save money by choosing that plan.
There are plenty of options for you if you have just finished college and you are looking for health insurance. Perhaps you can get insurance through your employer. Other options include personal insurance plans, as well as being included on your parents’ health insurance plan if you are below 26.
To save cash on health insurance, ask if you company has wellness programs for their employees. Some companies offer discounted gym memberships and reduced rates for preventative medical care. Joining certain fitness programs may help your company pay less for its insurance coverage.
It is important to review your health insurance policy each year during open enrollment. As your medical needs and family dynamics change, your health insurance should be adjusted to meet those needs. Do not forget to make any needed changes to vision or dental insurance.
If your eyes already have issues, or vision problems exist in your home, then vision insurance proves a smart buy. This type of insurance pays for a portion of the cost of eye exams and check-ups as well as corrective lenses like glasses or contacts. Vision insurance isn’t mandatory and therefore may not be worth the cost for some individuals.
Pay attention to which prescriptions are covered under your policy. Health insurance companies tend to change the medications they cover, so see to it that you read the contract’s fine print each time you re-enroll. If you take a medication daily that is not covered anymore by your insurer, you may need to find a new insurance company — fast.
Pay less on your taxes with health insurance! It’s common for people not to know that health insurance premiums are tax deductible. The money that is spent paying for the deductible can be deducted, as well as prescriptions or visits that aren’t covered by insurance. Federal and state taxes are different, so it’s best to check the guidelines.
When you are comparing insurance plans, you may see that you will pay less with a group plan, but if you have an individual plan you will have more choices. The most important take-away here is that you need to have some form of health insurance, even if it isn’t top-of-the-line. In today’s environment, if you choose not to purchase health insurance, you’re asking for trouble. It’s possible for something bad to happen that may possibly leave you without any money. Be smart, and research all of the health insurance choices available today.