Health Insurance: The What, When And Why
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.
Save money by never paying your health insurance premiums with your credit card. May insurance carriers charge as much as 15% more if you pay with credit cards, and they may also charge an administrative fee.
Take a look at health care savings plans to see if they'll work for you. The money in this account is collected from your pre-tax income so you can save on your medical expenses. The money you save can be used for prescriptions or other expenses, but these accounts have some limits and may not be right for everyone. Because of this, it's important to know all the details.
There are plenty of options for you if you have just finished college and you are looking for health insurance. If you have a job, you can use their employee-based insurance. If you are not yet 26, you can remain on your parents' health insurance, though you may want to look into getting your own coverage.
Check with your health insurance carrier to know what prescriptions are covered under your policy. Reread the list of which drugs are covered every time you re-enroll in your health insurance plan. It's far better to know in advance than to be embarrassed at the drug store by your sudden inability to pay for your prescriptions.
Certain health insurance companies will charge higher premiums or turn down any coverage for women who have ever had a C-section. The reason is because this process is extremely expensive. Since C-sections cost so much and are a dangerous surgery, insurance providers will try to get out of insuring women who have had or are at risk for the need for a C-section.
If choosing and purchasing insurance is too much work for you, consider using an insurance broker. Brokers are trained to find policies that address your particular needs. They also know about all insurance laws definitive to your state. Prior to committing to any one broker, shop around and check out their fees. This is expecially helpful with a Texas Medicare supplement
. The information you get is so confusing it almost takes a broker to help you figure it out.
Vision insurance makess sense for you and your family, especially if anyone already has issues with vision, or eye problems run in your family. This insurance will handle a certain percent of the cost of eye care related expenses, such as glasses and doctor visits. You do not have to have vision insurance, and some choose to save money by not buying this coverage.
It might be possible for you to get a medical discount card that lets you purchase your insurance at a lower rate. These cards allow for visits to in network physicians who provide service at little to no cost for the less fortunate. You can make use of a tax-exempt Health Spending Account too for prescriptions and other medical supplies, and use your discount card for care. This will cost you less out-of-pocket for medical care, and cost you less each month in premiums.
When comparing group and individual insurance plans, you may notice that group insurance might cost less monthly; however, there may be more options for an individual plan. You should always keep in mind how important it is to have health insurance. Going without health insurance in this day and age could be financially catastrophic. It is too easy for something unexpected to happen that could leave you penniless. Be smart, and research health insurance today.