When you are considering an insurance plan that is offered by your employer, think about the health of yourself and your family. If you have no current health issues, you may get a policy that has a cheaper premium. This will save you money in the short term, but may cost you if you have an accident or a medical issue appears later.
Calculate all costs of health insurance prior to signing a contract. Some health care costs are hidden or difficult to understand. Make sure you take deductibles and co-pays into account as well as your premium amounts when determining the entire cost of a health insurance package.
Each year, check to see which prescriptions are covered. Health insurance companies like to change what medications they are willing to cover, so make sure you read the fine print every time you re-enroll. If you have daily medications that your current insurance stops covering, find a new provider.
In order to save money, consider getting catastrophic coverage instead of comprehensive. Unlike comprehensive insurance, catastrophic coverage has less coverage for routine care, and will only cover “big ticket” costs.
Expect that there will be loopholes in any health insurance policy. 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. Understand that you may have to pay on your own for things that are not covered, such as certain procedures or medications.
Do not volunteer personal information to health companies who call to solicit services or ask for applications. You should answer the questions asked as directly as you can, but no more. If you give them more information than they have asked for, they will note it in their files and could take what they have learned to charge you more for your premiums or remove your coverage all together.
Because of certain laws, private insurance is not allowed to be purchased from another state. One consequence of this is that coverage may be reduced or nonexistent if you receive care outside your home state. This is important information if you will be traveling.
Catastrophic health insurance is an excellent choice for anyone who cannot pay for a comprehensive insurance policy but wants at least minimal coverage in case something unexpected happens, such as an injury, accident or life threatening illness. Of course, this type of coverage can also be purchased for additional protection in extreme situations.
Whenever you are looking into catastrophic health insurance as a coverage option, you must be sure to do your homework. Be sure the catastrophic events you worry about are actually covered. If you do decide to do this, open a HSA (Health Savings Account) and make regular deposits. This way you will have your deductible covered should you need it.
Read over your health care handbook and it will give you a lot of knowledge that will be helpful in the future. You should get a booklet from your provider on what is in your policy, this way you can understand what can benefit you the most. Although much of it may seem tedious now, you really need to know every bit of information it contains.
If a pre-existing condition is something that is an issue for you, do your research before buying health insurance. Some companies will not allow you to get coverage if you have a pre-existing condition and some will charge you a lot of money for coverage. By researching all of your options, you’ll be able to choose the best coverage for the lowest premium.