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.
If you have graduated from college and you are in need of health insurance, there are some options for you. If you got a job right out of college, check the health insurance they offer. You can also be listed under your parents’ policy until you turn twenty-six, or look into personal plans.
Do a quick check annually to verify what prescription medications your policy will continue to cover. Health insurance providers frequently make changes to the medications they cover, so every time you sign back up, it is advisable that you check the fine print of your policy terms. If you take a medication daily that is not covered anymore by your insurer, you may need to find a new insurance company — fast.
You can get catastrophic insurance instead of comprehensive to save cash. Catastrophic coverage is for emergency visits and hospitalization, while comprehensive coverage help pay the cost of doctors visits, prescriptions and mental health care.
Don’t expect your health care policy to be straightforward. Learn all the exceptions in your policy so that your insurance company won’t deny you benefits you thought you were entitled to based on a loophole. You need to thoroughly read your policy, so that you understand what it says and are not caught off guard if they say they will not cover something. Be prepared to spend out of your pocket for instances that are not covered, like certain procedures or medications.
If you are contacted by an insurance carrier in conjunction with your application, do not give information for which they did not ask. Answer only questions which are directly asked. If you add any extra information, it will be notated in their records and could result in higher premiums or even a rejection of your application.
When you are comparing insurance plans, you may see that you will pay less with a group plan, but if you have an individual plan you will have more choices. Remember that any type of health insurance is better than nothing. Being uninsured could cause severe financial hardship at a moment’s notice. If you suddenly fall ill, the costs could devour your savings in no time. Consider your options, and choose the best policy you can afford.