With health insurance premiums are rising each year, it is more important than ever to save money on health insurance. If you are not covered by a health insurance plan through your employer, it’s critical to shop around for a plan that meets your needs.
Some points to think about when shopping for health insurance:
- Compare co-payments, deductibles and coinsurance payments.
- Look at whether or not the plan allows you choose your own physician or other health care providers. Does it cover the providers you are currently using, or will you have to choose new ones?
- Review the plan to see if it covers the health services that are most important to you.
- See if the plan covers preexisting conditions, and if there is a waiting period for them.
Some other things to consider:
- Should you consolidate health insurance plans? Some families are fortunate enough to have health insurance offered through the employers of both spouses. If that is the case, you may be able to choose one plan and forgo the other to save money. Just make sure the plan you choose has the coverage everyone in the family needs.
- Group plans save money. If you have the choice of a group plan or an individual plan at work, enrolling in the group plan could be much less expensive. Find out about the benefits of your company’s group plan.
- Look over your co-payments and deductibles. If you are young and healthy, you may be able to raise your co-payments and deductibles and save big on your premiums.
- Look at different coverage. Even if you have an employer-sponsored plan, you might save money by looking at alternatives to supplemental plans such as dental care or vision.
- Check out generic drugs. Ask your physician about generic prescription medicines. They can save you a lot of money.
- Maintain your health and keep health costs down. There are simple ways to improve and keep your health — quit smoking, lose weight, get more exercise, cut down on alcohol use. Being healthy means more than just saving money on health care, it means living longer and enjoying life.