Tips To Assist You Lower Health Insurance Expenses
Health insurance coverage- whether provided by your employer or bought by you-can be both pricey and complex. To better understand your alternatives and control your health insurance costs, consider these tips and ideas from the National Association of Insurance Coverage Commissioners (NAIC), a voluntary company of state insurance coverage regulative authorities:
Know Your Options
• • Married couples in situations where both partners are used in health insurance coverage through their tasks must compare the coverage and expenses (premiums, co-pays and deductibles) to figure out which policy is best for the family.
• • Always stay in-network when possible, making sure to get recommendations and pre-certifications as required by your strategy.
• • Keep all invoices for medical services, whether in- or out-of-network. In the event you exceed your deductible, you might qualify to take a tax deduction for out-of-pocket medical bills.
• • Consider opening a Flexible Investing Account (FSA), if your employer offers one, which permits you to set aside pretax dollars for out-of-pocket medical expenses.
• • If you lose or change jobs, know your rights to continue your group health protection from your old employer for approximately 18 months (though you need to pay the premiums), as supplied under COBRA (the Consolidated Omnibus Budget Reconciliation Act).
Health Insurance Coverage Tips for
Different Life Stages
The NAIC’s consumer Web site, Insure You, (www.InsureUonline. Org), discusses the different types of medical insurance and offers focused suggestions to customers based on … Read the rest