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Considering Health Insurance? Read This Advice First!
Health insurance. They aren't dirty words - at least they don't have to be. If you spend a little time learning how to get the best health insurance you can reap surprising benefits. Every buyer and every insurance company is different but here are a few general ideas that can apply to almost every health insurance situation:
If monthly costs for health insurance are a concern look a higher deductible plan. This option allows for you to handle smaller out of pocket costs as needed and the need for a deductible is only necessary when a more catastrophic event occurs. The minor incidents are easier to budget and allow you to save monthly dollars for your day to day life.
Take out health insurance to protect yourself against financial ruin. If you take ill you may have to leave your job and without a regular income medical bills could easily bankrupt you. Just be sure to research any health insurance plan fully before you sign anything so you are aware of which health conditions it covers.
Before you change your health insurance plan check to see if your personal or family doctor is included in the coverage. Some insurance companies will only cover you if you use their doctors so you may want to steer clear if your family physician is not an approved one in their network.
Reevaluate your insurance plan during your open enrollment period to make sure you are getting the best coverage that meets your needs. Even though you may have had the same plan for a number of years it may be too expensive or it might not cover your current needs. Remember to make any necessary adjustments to your vision and dental plans during open enrollment as well.
Take advantage of any wellness programs offered by both your workplace and your health insurance company. Both of these may reward you in different ways such as your workplace offering a cash-incentive for completing an exercise program or your insurance company lowering your premiums if you follow a quit-smoking one. These offers are rare but helpful.
High risk health insurance does not have to cost as much as you would think. While many pre-existing conditions such as diabetes and certain disabilities can cause you to not get the best rates on the market you can still do much towards keeping the premiums low. Staying as healthy as you can is the first step.
If a health insurance company representative asks you a question to which you do not know the answer tell them so. There is no shame in telling them that you are unsure of what they are asking and they should call your physician to get the proper answer. They may seem frustrated but that's okay. Don't let it bother you.
When shopping for health insurance check to see if your favorite doctors - from general practitioners to specialists - are included in each providers network. While some providers will allow you to see out-of-network physicians you will often pay far more for those visits than you would for visits to in-network practitioners.
Doing some research on health insurance providers before you sign up for a policy can save time and provide you with knowledge on what to expect as a customer. Look into what current customers think about the coverage and service they provide. Ask about the quality of the doctors who are included in their network.
For the greatest savings when using your health insurance policy try to avoid using an Emergency Room unless absolutely necessary. Most health insurance policies charge the highest co-pay or deductible for an Emergency Room visit. Your out of pocket will be much lower if you can see your family physician or even use an Urgent Care facility instead.
Consider purchasing private health insurance policies for your dependents. Even if your employer offers health insurance coverage the cost to add your dependents can sometimes be very high. Shopping around for private options can at times be worth your while. Some private companies offer lower coverage options for a lower cost that may suit your needs.
You have probably heard about COBRA and how it allows you to stay on your employers plan even after you lose your job: you should know that with COBRA you are paying the full price for this plan. You can probably find a much cheaper alternative if you believe you wont need such an extensive plan.
With an employer-sponsored health plan insurance plan your company has to accept you despite your health status or pre-existing conditions. Without one you have to seek private policies which means your health will be rigorously evaluated. Many states have private health insurance policies that are underwritten about your medical history smoking status weight and age.
Self-employed workers can claim their health insurance premiums as a deductible expense on income tax. Medical expenses can only be taken if they exceed 7.5% of your already adjusted gross income amount while your premiums can be taken right out of your gross income no matter how much they add up to.
Do not try to hide your medical condition when you apply for health insurance. Although a pre-existing condition can prevent you from qualifying for a particular policy an insurance company can cancel your policy on the spot if it discovers your condition. It is best to be upfront and honest about your medical condition when you speak to an insurance agent. You might still be able to qualify for some level of coverage.
Hopefully the issues discussed above will help you with some common health insurance issues. You are not alone! Others have found the subject to be quite confusing and overwhelming. Apply the information that fits your individual needs.
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