You know how you pay a lot for your insurance, but never really seem to get the full benefit of it? Read on to learn how to flip the script and get the most out of the insurance coverage you pay for.
1. Meet your deductible EARLY.
- A deductible is a fixed dollar amount that you must pay each year before your health insurance starts to cover your medical costs.
- Once you've met your deductible, you can start taking advantage of free or low-cost services! All you will be responsible for is your copay or co-insurance.
2. Hit your Out-Of-Pocket Max - Plan to get all your medical interventions done in the same year.
- THIS IS FREE MEDICAL CARE. Once your out-of-pocket max is met, your insurance will cover 100% of your in-network medical costs!
- Batch your medical needs. If you or your family need tests, prescriptions, medical devices or equipment, to see a specialist, or to have surgery, plan to get these done in EARLY in the SAME YEAR.
- Meeting your out-of-pocket max at the beginning of the year means your insurance will completely pay for 100% of your medical expenses for the REST OF THE YEAR!
3. Know what you pay for. Pick a plan that pays for what you need!
- Don't take medications? Then why have a plan that pays for prescriptions but leaves you stuck paying high copays for routine doctor's visits?
- Are you planning on having surgery or having a child? Pick a plan with a low deductible or out-of-pocket max. You may pay a higher insurance premium, but it will be significantly less than what you would pay out of pocket meeting a high deductible.
- Want to pick your own doctors, physical therapists and specialists? Opt for a PPO that allows you to see whomever you choose!
Make this the year that you actually get what you pay for from your insurance company. You pay for your insurance, you might as well use it!
