I Don’t Understand My Health Insurance Options

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.

Ask your employer about any existing employee wellness program. Some companies offer discounted gym memberships and reduced rates for preventative medical care. By signing up for a fitness program, you can reduce the cost of your health insurance and save money on your premiums.

Reevaluate your insurance plan during your open enrollment period to make sure you are getting the best coverage that meets your needs. 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.

Each year, check to see which prescriptions are covered. Due to changing costs in drugs, health insurance companies tend to make changes in the prescriptions that they will cover for their customers from year to year. You may need to request an updated list from your insurance company. If you have daily medications that your current insurance stops covering, find a new provider.

Research different types of health plans, and decide on the one that best fits your needs. You can select a POS, HMO or PPO. Each can be significantly different than the other, so really consider each before deciding. Check to make sure your doctor will be covered under their plan.

When you compare individual and group insurance, it’s easy to see that group insurance may cost you less on a monthly basis; however, you may have more choices with an individual plan. Even if you cannot afford a large coverage, you should still get what you can afford. Going through life without health insurance is asking for trouble. It is too easy for something unexpected to happen that could leave you penniless. Be wise, and research your health insurance options today.

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