Most people tend to get lost when they start reading their health insurance policies. Even if the terminology doesn’t confuse them, the talk of premiums, deductibles, and copays will. Understanding what is covered and what is not can be confusing. Do you really need more than one policy to make sure you are fully covered? Take a few minutes and talk to your insurance provider to make sure you fully understand your health insurance policy.
The Cost of Quality Health Insurance
The cost of your health insurance won’t be much of an issue if your employer covers your monthly costs as part of your benefits package. However, if you are paying for your insurance on your own, you will want to find out as much as you can about your premiums, deductibles, copays, and prescription drug costs. Knowing how these costs affect your coverage is important if you want to keep your policy affordable.
Premiums and Deductibles
When you are looking into the cost of your health insurance, you need to learn how premiums and deductibles work together. If you choose a lower premium, your deductible will be higher. If you choose a higher premium, your deductible will be lower. Depending on your financial situation, one may be more advantageous than the other.
Know What Your Plan Covers
Read your plan carefully so that you know exactly what your plan covers. Many coverage options are elective and might not be provided by your policy. It’s also important to make sure that you understand who your providers are. Over time, certain providers may leave your plan only to be replaced by others that you may not like. Check your plan occasionally and be aware of any changes that may have taken place.
Are Prescriptions Included?
Believe it or not, many health insurance plans don’t always include prescription drug coverage. When you first get your health insurance, you may not need prescription drug coverage. However, over time, your health could change, and prescription drug coverage may be needed. Find out from your insurer what it will take to add prescription drug coverage or how effective it is if you already have one.
Contact us at Steve Wilk Insurance Agency today to get all of the information you need about your current health insurance coverage. You can also visit our office at 310 S Main Street, Suite C, Lombard, IL 60148.