Open enrollment is a time for you to assess your health care needs. You may need more or less coverage than the previous year and changes may need to be made in your coverage. It is best to make needed changes during the open enrollment period for vision and dental insurance as well.
During each enrollment period, check for changes in your prescription coverage, co-payments and annual deductibles. Which medications are covered by your insurer, and which are not, can change regularly. Make sure you are aware of any changes your policy may be making before you decide to sign up again. If a pill you are using every day is no longer covered, you might want to switch to another insurance company.
When you apply for insurance, the company will give you a call. Ensure that you don’t volunteer any information they don’t specifically ask for. Only answer direct questions. If you give any extra information, it will be recorded and can be used to raise the premium, or can even be cause for denial.
Despite the kind of coverage you’ve got, you can save money by getting generic drugs. There are only rare instances when you won’t be able to get a generic version of your prescription, and research indicates that the name is the only way in which generics differ from brand name drugs.
Remember that each state regulates the private insurance companies under its own jurisdiction, so interstate commerce laws prevent private insurance from being sold to you in one state if you live in another. An injury sustained and treated out of state may not be covered by your health insurance. insurance companies are fickle that way, so always make sure you find out first.
HSAs (savings accounts designed specifically to cover your health needs) are a consideration when you only occasionally visit the doctor. 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.
Group insurance rates are cheaper. Thus, health insurance plans you purchase through your employer will always offer lower rates than individual insurance plans. The best way around that is to join some type of trade organization that offers insurance to its members.
Take note of your bills. Even with an insurance plan, you might find yourself having to pay expensive bills, especially if you have to buy prescription medication. Some doctors don’t think of generic (and cheaper) versions of medications, and just prescribe the brand name medicine. Don’t hesitate to compare prices as well. Generic medicines are known to deviate in price at different pharmacies.
One of the most important parts of life is maintaining good health. It’s vital to have good health insurance to stay healthy. Use the advice that you gleaned from this article to shop for and purchase good health coverage.