Health insurance is a very hot topic in the United States since President Obama has passed health care reforms. It is now required that everyone have insurance, however, there are many facets of insurance. There are several things that you must consider and health insurers may not be truthful in what they tell you.
Health insurers know that you want to save money, so they will push you to get cheap premium plans. The cheapest premiums may not be the best financial choice for coverage. This is because they may be cheaper up front, but have higher deductibles that you have to meet before they will cover anything. If you have to visit the doctor regularly, then you will end up paying a lot more.
Prescription plans can raise the amount of money you pay towards health insurance and most insurers will make you believe you have no other options. There are several options with prescriptions if you shop around. Many pharmacies offer discount programs, and almost all prescriptions are part of a mail program. The mail program allows you to purchase the prescription in bulk for a discount. This is a great program for prescriptions you take daily and are ongoing, such as heart medication, cholesterol, or diabetes medication.
Health insurers are required to cover pre-existing conditions, but they are not required to tell you what you have to meet to get coverage. Many health insurance companies now make you meet a deductible before they will cover any of the bills. They do this across the board, so it is not just limited to the conditions you may have had prior to obtaining insurance. After you meet your deductible, they may cover 80-percent or they might cover 100-percent.
Type of Plan Matters
Most health insurers want you to believe that the type of plan you purchase will not make a difference. This is not always the case. There are very big differences between the types of plans, with the two major ones being PPO and HMO. PPO is Preferred Provider Organization, while HMO is Health Maintenance Organization. If you live in a large city and are rarely sick, then do not feel like you have to pay for the PPO plans.
Research the Plans
Before you purchase insurance, you will want to see what they cover. This is only helpful if you know what your needs are. If you are pregnant, then you will want to make sure that the plan includes prenatal coverage. If you are done having children, then look for a cheaper plan that does not offer prenatal coverage. Each plan can be tailored to your needs, as long as you know what your needs are. Look at how much the deductible is, how many visits they cover, coverage for preventative care, and emergency coverage.
Health insurers do not necessarily “hide” information from you. Rather, they use ignorance as a benefit to them. They want to save as much money as possible, while getting as much money from you as they can. If you do your research, you can avoid the pitfalls.