Health insurance is something we all need. If you get one you will most probably be getting some great benefits with it and won’t have had to go hunting for one yourself, like many of us do.
If you are in the second group there are a few facts about finding your own health insurance that you really should know before going with a company. All of these can be the difference between a policy that you love and one that leaves you in the dust, shelling out more money in medical expenses than you deserve to.
This is just a few handy hints to make you aware of some things and help you avoid the pitfalls in choosing a plan to suit you. Hopefully you’ll take heed to them when it comes to finding your policy.
Always check what limitations or exclusions are in your policy. Are covered while you travel or if you pick up an injury while taking part in sports etc?
Things like this can be buried in the small print in between lots of useless information, so take the time to read this properly.
You need to know if the prescription drugs you are taking will result in a discount or a co pay. There a lot of drugs which won’t be covered, so check if yours is one of them. A company policy will cover almost everything on co pay, individual policies will not.
Do you have a pre-existing medical condition and, more importantly, is it covered by the policy? This is the biggest mistake people make when buying health insurance as they assume that it will be. Never assume, make sure of the facts.
If there is an exclusion rider on your policy, this means you are precluded for any condition that you are being already treated for. Take this cost into consideration when working out your annual medical costs, or get another policy.
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