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.
It is important to plan for the higher cost of an individual policy versus a group policy often offered by employers. You may need to sacrifice some aspects of your policy to help keep the cost affordable, such as a higher deductible or less coverage. Shop around in order to get good rates and the best coverage.
Choosing catastrophic coverage can offer big savings on medical insurance costs. While comprehensive has more benefits, catastrophic only covers emergency care and hospital care.
Do not offer up information if someone from a health insurance agency is discussing the application process. If you have a condition and they don’t ask about it, withold that information. Remember that the insurance companies are trying to make money, and anything you say can and will be used against you, in the form of raising premiums or denial of coverage.
Regardless of the kind of insurance policy you have, you will save money if you always choose generic prescription drugs. Only in rare cases will you not be able to receive generics, and multiple studies show that there is no difference in the drugs except for their brand name.
Remember that insurance is regulated by the state, and so it cannot be carried over state lines. Always make sure that you know which doctors and hospitals are covered by your plan. insurance companies set their own rules, so be sure to find out their policies ahead of time.
Take into consideration that some companies will impose a surcharge for carrying your spouse on your health insurance plan if he or she has access to insurance through his or her own employer. It may be less expensive for each of you to get coverage through your own workplaces, so do the calculations to find out which is best.
If you simply don’t visit the doctor enough for insurance to be cost effective, consider opening a Healthcare Savings Account (HSA). Any dollars you save towards deductibles, premiums and copays can get saved in an HSA and applied towards future medical expenses.
Group Health insurance
It’s cheaper for the company you work for to get group health insurance than it is for you to purchase your own, so your premiums through your employer’s plan will be cheaper, even if your coverage is the same. If you are not currently employed, you could still get cheaper health insurance buy joining a trade organization which offers its members group health insurance plans.
Regardless of whether your pet stays inside or ventures outdoors, it is wise to have pet health insurance coverage. Your pet could hurt itself or get sick even if it stays inside the house. Your pet can still break a tooth or bone indoors, and that may need pricey vet care.
Keep track of your health insurance expenses, especially when looking to switch policies. Keep up with the amount you spend on out-of-pocket expenses, deductibles, and coverage for every member of your family to ensure it fits within your budget.
If a doctor writes a prescription for you, it may be cheaper to take one-half of the next largest tablet size instead of taking a whole tablet. For example, the physician may write for one-half of a 100mg tablet daily instead of one 50mg tablet daily. Often times, the bigger pill is not twice the cost of smaller pills, so you could end up saving money by buying these in the long run. The pill splitter you bought will pay for itself in a very short amount of time.
Health insurance Coverage
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. Either way, the most important factor is that you have some type of health insurance coverage. Being without health insurance coverage in this day and age is just asking for trouble. You could develop a serious illness tomorrow, which would destroy any savings you have within months. Be wise, and research your health insurance options today.