Whether they are purchased by you or provided by your employer, health insurance can be expensive and complex. If you want to understand your options better and control your health insurance costs, then take a look at these tips from the National Association of Insurance Commissioner, or NAIC, which is a voluntary organization state of insurance regulatory officials:
Knowing Your Options
To determine the policy that is best for the family, married couples who are in situations where both spouses are offered health insurance through their jobs should compare the costs and coverage which include co-pays, deductibles, and premiums.
Always stay in-network when possible, making sure to get referrals and pre-certifications as required by your plan.
Whether in or out of network, keep all the receipts for medical services. In the event you exceed your deductible, you may qualify to take a tax deduction for out-of-pocket medical bills.
If your employer offers an FSA or Flexible Spending Account, then you may want to consider opening one because this will let you set aside pretax dollars for medical expenses you've paid.
If you lose or change jobs, be aware of your rights to continue your group health coverage from your old employer for up to 18 months (though you have to pay the premiums), as provided under COBRA (the Consolidated Omnibus Budget Reconciliation Act).
What are Health Insurance Tips for...
Different Life Stages
Young singles who may not yet have a full-time job that offers health benefits should be aware that in some states, single adult dependents may be able to continue to get health coverage for an extended period (ranging from up to 25 to 30 years old) under their parents' health insurance policies.
Young couples expecting a child should make sure they register their newborn with their health insurance provider within the deadline required.
Established families with children should consider Flexible Spending Accounts if available to help pay for common childhood medical problems such as allergy tests, braces and replacements for lost eyeglasses, retainers and the like, which are often not covered by basic health insurance.
For empty nesters or seniors who are under 65 years old and are retired but has COBRA benefits that have run out, it's important for them to research high-deductible medical plans. At this stage of life, evaluating whether long-term care insurance makes sense for them is what consumers want to do.
Knowing Your Options
To determine the policy that is best for the family, married couples who are in situations where both spouses are offered health insurance through their jobs should compare the costs and coverage which include co-pays, deductibles, and premiums.
Always stay in-network when possible, making sure to get referrals and pre-certifications as required by your plan.
Whether in or out of network, keep all the receipts for medical services. In the event you exceed your deductible, you may qualify to take a tax deduction for out-of-pocket medical bills.
If your employer offers an FSA or Flexible Spending Account, then you may want to consider opening one because this will let you set aside pretax dollars for medical expenses you've paid.
If you lose or change jobs, be aware of your rights to continue your group health coverage from your old employer for up to 18 months (though you have to pay the premiums), as provided under COBRA (the Consolidated Omnibus Budget Reconciliation Act).
What are Health Insurance Tips for...
Different Life Stages
Young singles who may not yet have a full-time job that offers health benefits should be aware that in some states, single adult dependents may be able to continue to get health coverage for an extended period (ranging from up to 25 to 30 years old) under their parents' health insurance policies.
Young couples expecting a child should make sure they register their newborn with their health insurance provider within the deadline required.
Established families with children should consider Flexible Spending Accounts if available to help pay for common childhood medical problems such as allergy tests, braces and replacements for lost eyeglasses, retainers and the like, which are often not covered by basic health insurance.
For empty nesters or seniors who are under 65 years old and are retired but has COBRA benefits that have run out, it's important for them to research high-deductible medical plans. At this stage of life, evaluating whether long-term care insurance makes sense for them is what consumers want to do.
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