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Personal Lines
Health Insurance Coverage Is Better Than an Apple a Day
Posted by: Kyle Dean | August 14, 2012
Health insurance is one of the hottest topics in the United States today. No matter your political affiliations, however, you know that you take considerable risks when you do not carry the appropriate health insurance.
The health insurance market can be a confusing world. There are so many distinctions available in policies today. How do you then go about thoughtfully selecting the right coverage for your life?
When answering that question, consider these straightforward tips to choosing the right health care plan:
- It's always about location, location, location. Even though this is not real estate, your state of residence significantly shapes health care plans and prices. A little research about your state's specifics will begin to give you a good sense of how the health care insurance industry works in your state.
- Everyone has his/her own health care priorities. To one person the most important aspect is the freedom to choose his/her physician, but another's top priority might be the prescription coverage. It's essential that you understand which elements of the coverage are nonnegotiable for you.
- Ask if it's possible to receive a free trial of your policy. You won't really understand the intricacies of the coverage until you have personally used it for a while. Many companies will offer you such a trial if you ask.
- Consider using a Health Savings Account in tandem with your policy. HSA's are a great safety net, especially if your premiums are low but your deductibles are higher ($1,100 individual; $2,200 family). HSA funds are deposited pre-tax and allowed to grow tax-deferred. Once you turn 65, you are able to withdraw the remaining balance and spend it as you see fit.
- Negotiate the services and prescriptions that your receive. Surprisingly, many of your health care costs might still be quite high even after insurance has paid its part. Don't be too shy to ask for generics or to negotiate with your doctor for prices of services. It might not always work, but you may be pleasantly surprised.
- Rely on insurance experts to find the best coverage for your life. The policies are so complex and changing that it is wise to rely on industry experts.
Our team at Dean & Draper Insurance Agency LP boasts 500 years of combined insurance experience. Please contact us today to access our unparalleled expertise and service.