The average person in the United States spends about $3,400 a year on health insurance. If you’re going to spend a lot of money on health insurance, you should make sure you’re getting the most out of it. You’re already paying for the benefits so why not use them and get your money’s worth. To get the most out of your plan you can do things like stay in-network, take advantage of routine screenings, and recommended exams. Use these easy tips to maximize all of the perks in your plan to keep yourself healthy.
Review Your Plan Annually
You need to know what’s in your plan before you can figure out how to use it. Many people don’t use the benefits of their health insurance policy because they don’t know about them. You know those packets your health insurance company sends you when you start a plan or when it renews? In there is an easy simple to read summary of all your plan’s benefits and perks, you can also create an account of the company’s website to access that summary online. Your health insurance company may do more than just help pay for your care. For example, they may give you savings at the gym or help you deal with your asthma. Don’t pass up any of these extra benefits. Some common perks are:
Discounted vision and hearing services
Gym memberships
Wellness programs
Mental health services
Telemedicine
Insurance companies often make changes to benefits and policy terms that take effect when the policy is renewed. So, even if you’ve had the same plan for a long time and you’re pretty sure you know what it covers, take a few minutes to read that summary every year. Going over it could show you new perks or even perks you need taken away. Not to mention, your health changes as you get older so coverage that you didn’t need or care about before might become a deal breaker with that plan.
Things To Consider
You don’t know if rates or perks have changed, so don’t assume it’s the same as the last one. Cost is important, but it shouldn’t be the only thing you think about. You should also think about the provider’s image and the plan’s network.
By paying a premium, you can keep getting the perks listed in your health insurance plan. You can pay it every month, every three months, every six months, or once a year. Premiums for health plans change based on a number of things. There is no perfect amount for a premium, but it must be reasonable all year long.
Before your health insurance starts to pay for your health care costs, you have to pay a certain amount out of pocket each year. If you need a lot of medical care, a health plan with a low deductible is generally best. If you reach it sooner, your plan will start paying for your costs sooner. However, if you are in good health, a plan with a high deductible may be better because it will save you money on your premium.
A copay is one way that you and your health plan provider share the costs. It means that you have to pay a set amount for each service before you can get it. Your copay depends on what kind of service you need, but it’s usually at least $10. You will always spend the same amount on health care, no matter how much it costs all together. This makes your health costs consistent.
Network
Your network is the group of doctors or other health care providers whose services are covered by your health plan. Most of the time, your source won’t pay for services that aren’t in their network. Check to see if your favorite doctors, clinics, or labs are in the network for your plan. They should be, if possible. If not, you may have to choose between what you want and how much it will cost.
Carefully Pick Your Primary Care Provider
It’s very important to have a doctor who knows you well, especially over a long period of time. If you don’t have a primary care provider, you end up going to different doctors and clinics when you’re sick. They don’t know what your normal is as far as your vital signs, labs, and medical history. So all they can do is treat the immediate symptoms rather than have a full care plan which you may sometimes need more than just putting a bandaid on your symptoms. A good doctor who knows your family background and your normal vital signs and symptoms. They can help you stay healthy by letting you know about screenings you are qualified for, finding problems before they become big problems, and sending you to a specialist if you need one.
Keep in mind while you’re picking your primary care doctor make sure they’re in-network for your insurance company. No matter what type of plan you have you will always save more money by seeing an in-network provider.
Use Your Plan’s Preventative Care
Even if you have a basic plan with a high premium, you should be covered for any screenings or other “preventive” care you need. This means you don’t have to pay a copay or other out-of-pocket costs. This includes getting tested for diabetes, high cholesterol, and high blood pressure. Most tests for breast cancer and immunizations, such as the flu shot, are also free.
Schedule Procedures Strategically
We know an emergency surgery isn’t something you can plan, but you can be smart about when you schedule visits and procedures. If you can plan ahead for a big medical treatment, there are a few ways to schedule it to get the most out of your health insurance. Some people won’t get a big procedure until they’ve met their deductible. If you don’t have much money saved up, this might make sense.
If you get health care services throughout the year that count toward your deductible and then plan surgery after you’ve met it, it’s more likely that your insurance will pay most of the cost of the surgery and you won’t have to pay a big bill out of pocket. Others who have the money up front might choose to plan a more expensive procedure to meet their deductible early in the year, knowing that the rest of their healthcare costs that year will be covered by insurance.
Save Important Contacts
We can’t always predict when we’ll need quick medical help or to go to the nearest urgent care or emergency room. Costs can be kept down by going to care workers in your network. It’s better to get ready ahead of time. To get started, call your insurance company. Their team will help you figure out where to go or who to call. Put this information in your phone or address book as soon as you have it. So, if you need to ask a question or get to urgent care quickly, you’ll have all the information you need.
While you’re saving contacts in your phone don’t forget your support team. Your care is made better by the people who help you. Save the important phone numbers for your insurance company, like the member services line and the nurse advice line. This makes it easy to get in touch with them if you need help or answers. Some apps and websites show the email addresses of their support teams, which you can add to your email contacts. Some also have chat functions or pages that you can save for later use. If you can, write down the hours of operation so you know when you’re most likely to get in touch with someone on the support team.
Work With an EZ Agent
It can be hard to figure out your own health insurance because there are so many things to think about. No one likes to spend hours reading about different plan perks and costs, so why not let a professional do all the hard work for free? There is a way to get cheap health insurance without having to go through a lot of trouble. A qualified EZ insurance agent can explain what each plan’s pros and cons are. And help you come up with the plan that works best for you.
Working with an EZ agent saves you time and stress because you don’t have to try to figure out legal jargon or read small print. Agents do all the hard work, so you can relax knowing that your coverage will meet your financial and medical needs the best.
Not to mention that EZ agents can save you hundreds of dollars a year on your health insurance bills. We do this by being able to look for the cheapest rates both on and off the market. EZ can also find and use any savings you might be able to get. We don’t just help you find a plan, though. We also help you keep it up to date. EZ can help you make claims with your insurance company and help you renew your policy when it’s time. To get started, just type your zip code into the box below or call 877-670-3557 to talk to one of our certified agents.
The world of health insurance can be intimidating. There are so many industry terms, as well as different types of plans with different coverage options and prices. Doing all of the necessary research to find the plan that fits your needs can feel overwhelming. You can opt for a short-term insurance plan that offers the basics and are fairly cheap, or a more comprehensible insurance plan. On top of trying to figure out which type of plan suits you, there are ways to save money on insurance that you could miss out on if you don’t know where to look. Here at EZ, we understand how intimidating it can all be, which is why we have some tips for making the process a little less unnerving.
1. Know The Terminology
The first thing you should do when jumping into the world of health insurance is familiarize yourself with the terminology. All of these terms can seem confusing, but they don’t have to be. Here’s a breakdown of some of the most important ones to know:
Premium– the fixed monthly rate that you pay the insurance company to cover you and your family. Premiums do not count towards meeting your deductible.
Deductible– a fixed amount you must pay before the insurance company either reimburses you or covers medical expenses. For example, if your deductible is $1,500, and you go to the doctor and get a procedure $3500 done, then you must pay $1500 first. Then, your company should take care of the last $2000, minus the amount of coinsurance you owe.
Coinsurance– Once your deductible is met, any insurance-covered procedure, treatment or service will result in a medical expense. The most common division of coinsurance is 80/20- health insurance companies pay 80%, you pay the remaining 20%. For example, in the above-mentioned scenario, you would have to pay 20% of it $2,000.
Copayment– a set amount you pay whenever you use a specific type of healthcare service. You can have a copay for primary doctor visits, specialist doctor visits, ER visits, as well as pharmaceutical copays on prescription drugs.
2. Know Your Budget
Before you start choosing specific insurance plans, weigh how much you are willing and able to pay for health insurance against your healthcare needs. Are you relatively healthy and just need the basics, or do you have a chronic condition and need more comprehensive coverage? These factors will play a big part in how much your monthly premiums will be versus how much your deductible will be.
If you are healthy, then a high-deductible health plan might be your best option. These plans offer low premiums and a high deductible- the thinking behind choosing a plan like this is that, since you are healthy, you will hopefully never have to pay your full deductible. It sounds like a bit of a gamble, but it can be worth it to save money on premiums.
If you need more coverage, then an ACA plan, or private plan that is offered by brokers or agents will work best because these plans offer more comprehensive coverage. There are different types of plans such as HMO plans with limited network coverage, and PPO plans that offer more in-network coverage (which costs more).
3. Know How To Save Money
After you’ve explored the different plan options available to you, don’t forget to look into the money saving options that come with some of these plans! You can save some extra money with:
Subsidies– If you make between 100%-400% of the poverty line, then you are eligible for subsidies when purchasing plans on the ACA Marketplace. There are different kinds of subsidies:
Cost-sharing reductions-Cost-sharing reductions are discounts that lower your deductibles, copayments, and coinsurance. Your eligibility for these extra savings is determined by your household income.
Advance Premium Tax Credit– This is a tax credit that you can use to lower your monthly premiums. When applying for Marketplace health insurance, you estimate your expected income for the year. If you qualify, you will receive an advance tax credit that you can apply to the cost of your monthly premiums.
Health Savings Accounts (HSAs)- If you do go the route of getting a high deductible health plan (HDHP), then an HSA will help you save money. These accounts allow you to save up money to use for qualified medical expenses.You can contribute money to this account tax-free and allow it to roll over every year, but you can only have one of these plans alongside a qualified HDHP.
4. Get A Good Agent
If you are in the market for a health insurance plan, eliminate the hassle of doing all the research yourself and contact an agent. EZ.Insure offers highly trained agents in your area who can answer questions about all of these topics, and more. With us, you’ll speak with an actual human being, not an automated phone system. We will provide you with your own personal agent who will search and compare all available plans in your area, for free. Get the answers you are looking for quickly and at no cost. No pressure, no gimmicks. To get instant quotes, enter your zip code in the bar above. Or if you would like to get specific answers, speak to an agent by calling 888-350-1890.
Health Savings Accounts (HSAs)-