Just like any kind of insurance, you should be reviewing the status and amount of coverage you receive from your health insurance plan, at least once a year. What happens all too frequently is that coverages change, the deductibles change, the out of pocket amounts change, and you aren't aware of the significant ramifications of those changes. |
Oh of course the health insurance company makes you aware of it, since they are required to do so by law. They send you a small "newsletter" via the US mail. Does that count? You bet it counts, although more than 85% of people only glance over those newsletters, if they read them at all. Based on the amount of pure garbage that comes in the mail daily, you figure they are trying to sell you something else and you glance at it and summarily toss it in the trash can. But you were notified, you simply elected not to read the notice.
That is exactly why you should examine your health insurance coverage annually. It is estimated that about 60% of Americans get their health insurance through their employer, who has them on some type of group plan. Group plans are very cost effective because they generally cover a large number of people, but depending on the plan your employer is providing, it may only be marginal protection, and you won't really discover this fact until the unexpected happens and you need to make claims on it.
Are just you covered or is your spouse and/or family covered as well? How much is it costing you, out of your paycheck, outside of what your employer pays on your behalf? Do you know how much coverage you have? Do you understand what is NOT covered and why? What is your annual out-of-pocket expense amount that you need to pay? How much is your co-pay amount? Are prescriptions covered as well? Do you get discounts on prescriptions if you elect to go with a generic instead of a name brand?
That is only a small portion of the number of questions you should be asking about your health insurance coverage. If you dig deep into your existing policy, you may be shocked to discover how little coverage you really have. However, NOW is the time to discover this fact, not when you are facing an emergency and find out something is not covered because the accident happened on a Tuesday between 1pm and 2pm, which is a blackout period. Don't laugh, there are stranger clauses and exclusions in many policies.
If you do not currently have any health insurance at all, you need to run not walk and get yourself and your family covered as soon as right now. With the sky rocketing costs of health care, even a relatively minor injury needing professional help or hospital expertise could ruin you financially.
But even if you already have health insurance, you are strongly encouraged to take out a notebook and start documenting your coverages, your deductibles and all aspects of your current health insurance policy. Then start shopping around to see what other policies are costing, both online and offline for the same or better coverage. You will likely be pleasantly surprised to find that affordable health insurance is right in front of you, and you can get the coverage you need immediately. The money you save will serve a much better purpose in your wallet than in the account of your old health insurance company. For more insights and additional information about your Health Insurance Policy as well as getting a very aggressive online health insurance quote, please visit our web site at http://www.healthinsurancetipsguide.com
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