Think about your family's health needs, including your own, when deciding which employer-sponsored health insurance plan to sign up for. If your health is good, you may choose to purchase insurance that has a lower premium. While you can save some money now, it is a huge risk because a problem could develop, and then you will have to pay much more.
If you've recently finished college and are looking for health insurance, you should consider a few things before purchasing any policy. If you are employed, see what insurance options are offered through your employer. If you are younger than 26, you can remain covered under your parents' insurance plan, or you can look into personal insurance plans too.
It is usually cheaper to obtain insurance through group policies, such as those provided by employers, than obtaining an individual policy. It is possible you might have to be satisfied with a higher deductible and/or less coverage. As with any service, you should do your research to find the best price and plan.
Don't give more information than necessary when you are being interviewed by a health insurance provider. Be sure that you are only answering the questions that they ask. If you add any extra information, it will be notated in their records and could result in higher premiums or even a rejection of your application.
Regardless of the type of health insurance you have, you'll save a lot of money by opting for generic drugs over their name brand equivalent. There are only rare times you can't get generic medicine, and most studies show there is not a measurable difference between brand and generic, save the name.
Check your insurance coverage periodically to determine which medicines are paid for by your plan, and which ones are not. The list of covered items is called a formulary in the insurance world and this list changes every year. Some new items will be covered, and some older ones may go away so reviewing every year is important. If you find that a previous prescription is no longer covered, talk to your doctor about switching to one that is.
Keep in mind that some employers will charge an additional fee, known as a spousal surcharge, if you add a spouse to your plan whose employer also provides health insurance coverage. It may actually be more affordable to have separate coverage through your respective employers, so make sure to calculate both scenarios.
You do not want to be in the middle of an illness or catastrophic accident and discover that the health policy you have in insufficient for your needs. You should prepare beforehand for emergencies by knowing and understanding your policy details and alternative choices available. Not having an ironclad policy is simply a bad choice. Luckily, it is a choice that can be easily corrected.
