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 recently graduated from college and you need health insurance, you have a couple options. If you are employed and the company offers insurance, you can enroll in that. You can also be listed under your parents’ policy until you turn twenty-six, or look into personal plans.
It is important to review your health insurance policy each year during open enrollment. What worked in the past may not now, particularly if your personal health may have changed or if you added someone to your policy. You should also take advantage of the open enrollment period to make adjustments to your dental and vision care policies if these benefits are offered by your employer.
Purchasing insurance on your own often results in higher policy costs compared to group plans offered through an employer. You could find yourself having to make compromises with an individual package, like paying a higher deductible or even opting for less coverage. Take some time to research companies so that you can get the best rates and coverage.
Vision insurance is wise if you’ve had a history of vision issues in the past, or it’s in your family history. This insurance covers some of your contacts, glasses and check-ups. Vision insurance isn’t mandatory, so some people spend less cash by not having this kind of coverage.
You can lower your premiums by choosing a catastrophic coverage option instead of a comprehensive one. Comprehensive health insurance covers everything, whereas catastrophic coverage only covers a visit to the emergency room or hospital care.
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. Whatever option you choose, the most important thing is to have some form of health insurance in place. Going through life without health insurance is asking for trouble. Who knows what unexpected issue could be waiting around the corner that could wipe out your savings. Be smart, and research health insurance today.