Health insurance can spell the difference between life and death, but it’s often expensive for many people. Without health insurance, even trivial health issues can end up costing a lot, so how do you protect your health without breaking the bank?
Thankfully, today you have more options than ever, and there are certain steps you can take to get the most suitable insurance for your lifestyle. Check out these tips on how to save money on health insurance.
Browse All Available Policies
Perhaps the most crucial step is to pick the right insurance policy. Today, there are hundreds of seemingly similar insurance options, but not all policies are the same.
Depending on your age and any underlying medical conditions you might have, you need a plan that covers at least the medications you expect to need in the future, as well as doctor appointments and procedure costs.
Always check all health insurance options available in your state before committing to any plan. Make sure to compare quotes and plans, and read the fine print on any policies you review.
Opt for Generic Drugs
You may be surprised to know that brand-name drugs and their generic equivalents are completely identical in terms of medical efficiency.
So, why do brand-name medications cost more? The answer is in their name. When you buy well-known brand drugs, you are paying a premium for the brand alone. This is something you can safely skip.
Generic drugs are cheaper, and also come with higher copays, which means your insurance will cover a higher percentage of their cost. There is no medical reason to pick brand-name over generic drugs!
Understand Your Health Benefits
Studies show that more than half of all employees don’t understand the health benefits of their insurance policy. This means they might be paying for things they don’t need, or that they pay extra for out-of-network services.
Moreover, your insurance might require you to seek referrals before authorizing a specific medical exam or procedure. That’s why it’s so important to periodically review your insurance plan policies and make sure they align with your needs.
Maintain a Record of All Your Medical Tests
Finally, keeping copies of all your test results and records can save you a lot of money in the long term. If you have recent results handy, you might not need to repeat it. Always bring all relevant tests with you to consultations to see if some of them can be used again.
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