08/01/2014
Previous | Next | Personal Finance Home | Career Corner | Health | Issues
They think it is only for the elderly or the rich. However, not planning on becoming ill isn't a good health plan. Having health coverage is really a good thing to do, as the following paragraphs will illustrate.
Figure out the costs before getting your own health insurance. Take into consideration all the costs coming your way, such as premiums, deductibles and co-pays. While these can be confusing at first, it is in your best interest to know the costs, and reasons, before you purchase a policy.
If you just graduated college and need insurance, there are some choices for you to think about. If your place of employment offer insurance, take advantage of this benefit. You can also consider your parents' insurance if you are below 26 years of age. If nothing else works, there are a ton of personal plans available through insurance companies, too.
Individual policies usually are much more expensive compared to the group coverage given by employers, so it is advised to plan accordingly. You might have to get a smaller coverage or have a higher deductible, and for some people it will be both. Every insurer will evaluate you differently, so it's well worth your time to shop several insurers until you find the cheapest rates for the most coverage.
Look into different health plans, and decide on the one that best fits your needs. There are many different plan choices, including PPO, POS and HMO. Each offers their own unique benefits and shortcomings which must be considered before choosing which you want to go with. Make sure that you have the option to keep the doctor that you currently use.
Investigate your prescription coverage by reading your health insurance policy. The list changes yearly, so check when you re-enroll so that you won't be surprised when filling a prescription.
Talk to all your health care providers before changing insurance companies. Some doctors may not accept your new insurance. Finding a list of the doctors and hospitals that accept this insurance is as easy as checking the site of the insurance provider you are considering.
In some cases, insurance companies will charge you extra for adding your spouse to your plan if he has the option of getting insurance through work. You may be able to save a little money if you each get health insurance through your own jobs, so be sure you figure out the cost for both scenarios.
If you're in good health and don't need to visit the doctor very often, an HSA, or health savings account, may prove beneficial for you. Money could be put into this account instead of paying premiums and copays. If medical expenses are incurred in the future, use these funds to pay for them.
Hopefully, this article has caused you to stop and give some thought to health insurance. Having health insurance could save your life, that is why it is good to get it before it is too late. You will be glad you prepared yourself if something occurs. Health insurance could be expensive, but passing the chance to get it could be a lot more expensive.
This article was authored by the group with Imagex Medical, the Medical Ultrasound professionals. For more information regarding the company, visit http://www.imagexmedical.com/.
© 2014 Renan AntonioThe views and opinions expressed in these articles do not necessarily reflect those of College Central Network, Inc. or its affiliates. Reference to any company, organization, product, or service does not constitute endorsement by College Central Network, Inc., its affiliates or associated companies. The information provided is not intended to replace the advice or guidance of your legal, financial, or medical professional.