Make sure you understand what your policy covers before singing up. Choosing a policy that covers what you need is the best way to get your money’s worth.
It is important to review your health insurance policy each year during open enrollment. You may want to make changes to your current policy if something isn’t working, or maybe your health needs have changed or your family has grown. This is also when you can decide what vision and dental options suit you the best.
Having health insurance can lead to tax deductions! Many people don’t realize that their health insurance premiums are tax deductible. You can also include all money paid for prescriptions, your deductible, doctor visits, co-pays and any other non-covered medical expense. State taxes differ than federal, so you may want to check those guidelines.
Don’t expect your health care policy to be straightforward. Learn all the exceptions in your policy so that your insurance company won’t deny you benefits you thought you were entitled to based on a loophole. Read every page of the policy, so you won’t be surprised when the company tells you that something isn’t covered. Be prepared in advance to pay out of pocket for things that may not be covered, like certain medications or procedures.
When you are filling out your application with the insurance company over the phone, make sure that you are only providing them with the information that they request. Give direct answers to their questions and nothing more. Anytime that you provide the insurance company with information, they can use it to increase your overall bill, and in some cases they could even deny you coverage.
You can make a more informed decision on the right health insurance for you or your loved ones when you conduct the proper research. Now more than ever, it’s important to have adequate and affordable health coverage. Health insurance just might be the most necessary purchase that you ever make.