Health Insurance: The What, When And Why

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TIP! When you are considering an insurance plan that is offered by your employer, think about the health of yourself and your family. This is a balancing act, becasue you may choose to buy less insurance coverage because of the lower premiums and the fact that you have no current or expected health issues.

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.

TIP! When a health insurance company calls you as part of the application process, never volunteer information. Answer only questions which are directly asked.

If you have a family history of needing vision correction, or if you have already been prescribed glasses or contacts, it’s important to include vision coverage in your health insurance plan. Vision insurance covers a part of your eye exams and will also pay for at least part of your contact lense or eyeglass purchases. You are not required to carry vision insurance, and it may be cheaper in the long run to not have this coverage.

TIP! No matter the coverage you have, if you choose generic drugs all the time you will save money on health insurance. 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.

Expect your health insurance policy to have loopholes in it. Thoroughly peruse your policy in order to avoid being surprised when someone tells you that a particular issue is not covered under your policy. You may have to pay for certain things yourself, such as some prescriptions or procedures.

TIP! Because of interstate commerce laws there are regulations on private insurance companies which prevent them from selling insurance across state lines. Always make sure that you know which doctors and hospitals are covered by your plan.

Regardless of the kind of health insurance coverage that you have, if you choose generic drugs, you will save money in your insurance. There are a few instances that you won’t be able to get generics, but using them is no different than using the brand name, as studies have shown.

Individual insurance

TIP! Make sure that your health insurance plan covers pregnancy expenses before you get pregnant, and if yours doesn’t then you’ll need to find one that does. This is critical because a number of medical coverage policies do not extend to certain elements involved with pregnancy and/or labor issues.

When looking at group and individual insurance plans side by side, the differences are obvious; group insurance might be cheaper, but individual insurance offers more choices. In either case, the important thing to keep in mind is that you should have at least some form of health insurance. In these times, living without health insurance coverage is flirting with disaster. Something unexpected always seems to pop up at the worst time and that might leave you with no money. Be smart, and do your homework about the health coverage choices available.

 


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