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.
If you have just graduated from college and want health insurance, consider these options. If you are employed and the company offers insurance, you can enroll in that. Or, if you’re under twenty-six, you can remain on the insurance plan of your parents.
Reevaluate your insurance plan during your open enrollment period to make sure you are getting the best coverage that meets your needs. You may want to make changes to your current policy if something isn’t working, or maybe your health needs have changed or your family has grown. Open enrollment offers you the ability to change vision and dental coverage, too, if you have that option.
Did you know that you can actually pay less money in taxes by using your health insurance as a deductible? Few people understand that health insurance premiums are tax-deductible. You can also deduct the money you spend paying for your deductible, prescriptions or any visits not covered by your insurance. State taxes are different than federal taxes though, so make sure to check the guidelines.
Before you sign up for another year of coverage, ensure your prescriptions are still on the reimbursement list. Some insurance companies will change the kind of medication they cover or the pharmacies where you can get your prescriptions at. It is important to be aware of these sorts of changes when you are considering re-enrollment. If you need medication on a regular basis and your insurance company no longer covers it, you need to find a new insurer.
Although group insurance can be cheaper each month, individual plans have more options. These days, health insurance is mandatory. You undertake a major risk if you do not have health insurance these days. A serious illness could happen at any time, and ruin you financially. Be smart, and look into health insurance options as soon as possible.
