If you do not have health insurance, it can be a risky proposition if you come down with a terrible illness, encounter a trauma injury to your brain, or when you break your leg. A quality health insurance plan will protect your health, as well as the health of your family.
When it’s time for open enrollment, evaluate your needs when it comes to health insurance. What worked for you in the past might now be inadequate, especially if your health has changed or you need to add someone to your coverage. This is also when you can decide what vision and dental options suit you the best.
Choose the health insurance policy which fits your needs to a “T”. You can select a POS, HMO or PPO. Check out the different options for each before you decide which one is best. An important consideration is whether or not you want to keep your current primary care physician, and if you do you should ask him which insurance company he is affiliated with.
Read your policy to ensure you know exactly which prescriptions are covered and which are not. The list is updated annually, and if you take expensive prescriptions, you should ensure they’re still covered before you re-enroll.
If pregnancy is in your plans for the future, make sure your insurance policy will cover all of your pregnancy-related expenses. This is vital to know since many insurance plans don’t cover certain things for pregnancy and labor.
Keep in mind that some insurance companies will add a surcharge if a spouse you include on your insurance plan has access to their own insurance through an employer. You may be able to save a little money if you each get health insurance through your own jobs, so be sure you figure out the cost for both scenarios.
If you are one of those people that does not go to the doctor too much, your best bet would probably be to start a Health Savings Account (HSA). This allows a person to save money pre-tax in an account to be used for medical expenses later. The premium savings from a high deductible can go into the account, for example.
Many people do not have the income to pay for complete health insurance coverage. If you are one of these people, but still want some level of health insurance, obtaining a health insurance policy that protects you from catastrophic events could be an effective and affordable alternative. Of course, this type of coverage can also be purchased for additional protection in extreme situations.
Although catastrophic health insurance offers low premiums, it has high deductibles, so do your homework. Be sure that this type of insurance will cover your needs regarding catastrophic events. Choosing a policy which also has a Health Spending Account will allow maximum flexibility in case anything happens you weren’t expecting.
Go over your current policy before you switch. Watch annual deductibles and payments, and see what kinds of medical costs are going to be covered when you reach the deductible. Keep handy a copy of any plan you currently have, along with this information.
One way to keep costs down when paying for prescription medication is to ask your doctor to prescribe twice your usual dose. Often, buying pills in larger doses does not significantly increase the cost so you may be able to save money by cutting the pills in half. The savings will offset the cost of a pill splitter in a relatively short order.
Unforeseen circumstances make having a health insurance policy essential. At any given moment, you can be involved in an accident, or contract a life threatening illness. So utilize these tips when shopping for health insurance to make sure you find the plan that is most suitable for your family at the best price.