Do not approach health insurance with fear. It is true the field is complex and your options are many, but the more you learn, the safer you will feel. Health insurance is similar to healthcare itself. An ounce of prevention is worth a pound of cure. By making smart choices when you select health insurance, you can avoid difficulties in the future.
When you need health insurance, you should know all the costs. Build up a thorough understanding of the real costs presented by a particular plan, making sure to factor in the trickier factors like co-pays and flexible deductibles.
Figure out what your needs are before open enrollment is offered. Your insurance needs can rapidly change as your health changes and your family grows. Open enrollment is also the time to make changes to dental and vision insurance coverage if your employer offers that.
When you have to purchase your own plan, you will have to pay more than if you were enrolled in a group health insurance plan, so plan for that price. You may find yourself needing to plan for a higher deductible or reduced coverage to bring your policy cost down. Shop around to get the best coverage and rates.
Remember each year to verify what is covered with your prescriptions. Every year, when you re-enroll in your insurance plan, your insurance company has the right to change the plan terms. Read all the paperwork when you re-enroll and ask your insurance agent to clarify anything you’re confused about. In particular, keep an eye on the prescription drugs covered by your plan and note changes that may occur from year to year. If you suddenly find that your health insurance plan is not covering your ongoing medications any longer, then start your search for a new plan.
Expect your policy to have a number of loopholes. 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. Keep some money set aside in case you have to pay out-of-pocket for a medical procedure or prescription.
When your health insurer telephones you during the insurance application process, do not volunteer any extra information. Only give out information that they specifically ask for. Remember that the insurance companies are trying to make money, and anything you say can and will be used against you, in the form of raising premiums or denial of coverage.
Be sure to check your insurance plan to see what medications it will cover. This changes every year, so you should ensure you look over the list yourself when you re-enroll, so that you won’t be shocked when you refill your prescription.
When you get injured or ill, that isn’t the time to start finding where your health insurance policy is lacking. Be prepared by knowing as much as you can about insurance and also by knowing all the choices you have. If you find your insurance coverage is a problem, it’s one that can be corrected.