Getting the Most Benefit From Your Policy
In this modern world of cancer,
heart disease, AIDS, diabetes, asthma, ageing and
other diseases and afflictions, it is essential to
have some sort of health insurance.
There are many levels of health insurance coverage
available; unfortunately, like most things in life,
you get what you pay for, and good coverage can be
very expensive.
The two most common terms in referring to health
insurance are premium, which is the amount paid for
the insurance, and deductible, which is your
out-of-pocket expense before the insurance pays your
provider.
For instance, you might pay $300 premium per month for
family coverage, and your deductible might be $250 per
person, which means if you fell and broke your ankle
and went to the hospital emergency room, you would be
required to pay the first $250 of the bill.
You can purchase very basic catastrophic coverage,
which would carry a very high deductible and the
premium would be less than comprehensive coverage
which would have a higher premium and lower
deductible.
It pays to invest the time to investigate various
insurance options, taking into consideration your age,
your general health and the health of your family
members.
Your employer may offer group health insurance, which
is most likely the least expensive option for you, and
usually the premium is deducted from your paycheck.
Health insurance is a calculated risk; can you afford
the premiums or are you willing to risk that you would
pay less out of pocket for medical expenses in a year
than the premiums would cost? Consider carefully.
The key to getting the most benefit from your health
insurance policy is knowing your policy coverage.
Many people don’t actually read the policy for the
policy plan book; they may not be aware that the
policy may pay 100% of certain procedures, like annual
physicals, mammograms, flu shots or certain labs
tests.
The policy plan book will outline for you what
procedures are not subject to the deductible or co-pay
(your out-of-pocket expense).
Some insurance companies have shifted their emphasis
from health insurance to health improvement and
maintenance and will pay for the cost of gym
membership, nutritional counseling or plans to stop
smoking.
If you were trying to lose weight and knew that you
could get these services at no cost, wouldn’t you take
advantage of them?
If you wanted to quit smoking, wouldn’t it be
beneficial to know that you could get the patch for
free?
It is very wise to know what services are available to
you through your insurance company, and you will only
know if you take the time to read through your policy.
Health insurance is an expensive item; take advantage
of every aspect of it that you can, not only for
yourself but for the members of your family.
By taking full advantage of the free benefits of your
health insurance policy, you will be healthier and possibly require fewer visits to your doctor.
