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.
Make sure you consider your overall health, as well as that of your family, as you make your policy selections. You may not foresee any major health issues and therefore choose a plan with lower premiums. Although the premiums are lower, you may be at risk if problems arise.
When open enrollment comes around, take the time to evaluate your health insurance needs. Just because something worked for you previously, it might not work now, especially if you have different health care needs. Open enrollment can also be the best time to change vision and dental coverage if that is offered.
If you have a family history of needing vision correction, or if you have already been prescribed glasses or contacts, it’s important to include vision coverage in your health insurance plan. This insurance will handle a certain percent of the cost of eye care related expenses, such as glasses and doctor visits. Vision insurance is not mandatory, and some people spend less money not having this type of coverage.
Keep track of your prescription coverage. Since insurance companies are prone to altering what drugs they will cover, read all the fine print each time you re-enroll. You will want to consider switching providers if your current one yanks your medications off the approved list.
Look to catastrophic coverage instead of comprehensive coverage if you are looking for cost savings on your insurance. Catastrophic coverage does not pay for prescriptions, checkups, and so on, but only for emergency care or hospitalization.
When you compare individual and group insurance, it’s easy to see that group insurance may cost you less on a monthly basis; however, you may have more choices with an individual plan. The most important point is that having some form of health insurance is vital. Being without health insurance in this day and age is leaving a door open for trouble. It’s too easy to experience something unexpected that may leave you broke. Be wise, and research your health insurance options today.