Health insurance can be a complicated thing. Whether Medicaid or Medicare, private insurance, or coverage secured through an employer, there are many important questions to ask when determining the right coverage for you. If you’re confused about health insurance and how it can benefit you, read on.
What is the point of health insurance?
The first step in understanding health insurance is understanding what it is and what it’s for. While health insurance coverage may seem like an easy thing to understand, it gets complicated fast. This is because no two insurance plans or policies are used exactly the same from person to person. While one person may have health coverage for something, another might not, depending on their plan. Whether you’re in open enrollment trying to decide the coverage for you, or just curious about why you need it at all, you’re not alone.
Health insurance coverage is important because it can save you from financial ruin in the event of an emergency, accident or sudden injury. Coverage also means financial safety in the event that you have or develop a chronic illness.
Do I really need coverage?
Maybe you’re healthy and haven’t been to a doctor in years. Or, because you seek quality care so infrequently the only time you find yourself in a clinic is after a minor accident. For you, health insurance could seem unnecessary. It’s possible you’d rather save your money for a down payment on a new home or that new car you need for work. While it’s understandable, you might want to rethink this plan.
A sudden middle ear infection could lead to hearing problems and you’ll end up Googling hearing testing near me. Without an established health care provider and insurance plan, finding proper care or seeing an audiologist could get expensive fast. You’ll find yourself choosing between your hearing and that car or in a situation where you could be doing permanent damage. It’s in situations like this where proper health insurance coverage is important even for healthy people. Things can change quickly and one acute condition could make the difference between financial stability and bankruptcy.
What does it cover?
Every health plan is different. From long-term care and specialists to hospital stays and prescriptions, different policies work differently to meet customer needs and reduce out-of-pocket costs for medical care. In short, some coverages are better than others and this is often a case of you get what you pay for. While one plan might cover hearing aids, another might leave you picking up the tab for the preliminary hearing test. At the same time, some health plans will go as far as offering waivers and reimbursements for preventive care and activities and pick up the bill for your gym membership. This is where doing your homework and taking the time to research will come in. if you aren’t sure how, contact a licensed health insurance agent. At no cost to you, they will work with you to find the right plan to you and even help you through open enrollment or coverage lapses with options.
Do I have to apply every year?
Many people believe health insurance is a hassle. While it’s not without paperwork, once you have a plan you’re happy with, there’s not much to do. If your circumstances haven’t changed, simply renewing a plan you love is all you’ll need to do each year. But taking advantage of open enrollment periods at the end of each year could also mean more coverage options for you. In short, the choice is really up to you.
Once you begin looking into the right plan for you, more questions will inevitably come. This is where it’s time to call that agent or even contact customer service at your potential insurance company to get answers. Asking questions and getting informed is step one in making a great coverage decision.