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.
Evaluate what your health insurance needs are so you’ll be ready when open enrollment time is near. Life changes quickly and today’s coverage may not meet your needs due to adding someone to your family. You should also review your employee vision and dental plans during this enrollment period, if you have them.
Vision insurance is wise if you’ve had a history of vision issues in the past, or it’s in your family history. 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 coverage is not required, and a number of people keep their wallets a little thicker by eschewing this particular insurance.
To save on health insurance costs, choose catastrophic coverage instead of comprehensive. Comprehensive covers certain instances, but catastrophic covers emergency care and hospital visits, as well.
When you are filling out your application with the insurance company over the phone, make sure that you are only providing them with the information that they request. Give direct answers to their questions and nothing more. By volunteering extraneous details, it is likely that they will note them in your file and possibly increase your policy costs or deny coverage altogether depending on the information you provided.
Opting for generic, rather than name brand drugs, will save you money. Generic drugs contain the same active ingredients as brand name medications, and are available for most prescription medications.
Read your policy to ensure you know exactly which prescriptions are covered and which are not. The list of covered prescriptions changes annually, so it is important to be certain that your medication is still covered.
If you do not make regular visits to the doctor consider getting an Health Savings Account. Take some of the funds that you would otherwise spend on an insurance premium and put it into your HSA. This way, you always have health care funds should you need them, but you aren’t locked into an insurance contract.
Health insurance can be dramatically cheaper if you purchase it through a group plan. This is why employers can often offer their workers cheaper health insurance premiums. The best way to avoid high individual rates is to join a trade group which offers insurance to members.
Keep track of your bills. Though you may believe your insurance plan is a fixed rate that you pay in premiums, you will be surprised by the charges that will pop up from time to time. Some of these surprise charges can really add up, such as those for prescribed medications. Some doctors don’t think of generic (and cheaper) versions of medications, and just prescribe the brand name medicine. In addition, you should check prices at various pharmacies. Different pharmacies have varying prices on generic medications.
Do your homework if you’re looking into getting catastrophic health insurance as your coverage option. Make sure it covers the events that are of concern. Catastrophic coverage is best for people who have developed a serious illness that will be extremely expensive to treat.
A good tip to implement with health insurance is to always read the policy handbook thoroughly. This is the best way to get a clear idea of everything covered by your policy and find out more about the advantages linked to it. It may be frustrating to weed through all the information contained, but it could pay off significantly in the future.
When comparing individual and group life insurance, you will probably find that group is cheaper, but you will get more choices with an individual policy. Regardless of what you choose, just make sure that you have coverage of some type. Being without health insurance in this day and age is leaving a door open for trouble. A serious illness could happen at any time, and ruin you financially. Take the smart route, and look into what health insurance options are available to you.