If you have health insurance through your job, there's a good chance that you're getting some great benefits if it's a group insurance policy.
If you don't, then there's a good chance that you've been thrust into the role of finding individual coverage.
If this is the case, there are a few things that people new to the world of individual health insurance don't really know about, but should.
Hopefully a quick read of this article and my tips will help you to avoid some of the pitfalls that get the best of those who buy these policies.
1.
Look at the exclusions and limitations of your policy.
Are you covered if you leave the state or country? Are you covered if you're injured during physical activities like playing sports? All of these things matter and do make a difference, but they're very often in small fine print that you'll never see.
Pay attention to these as they could matter somewhere down the line.
2.
What are the prescription drug benefits that comes with your plan? The problem with many individual plans is that there are often certain drugs that they won't cover, and others will just give you a discount rather than a copay.
This is different from the situation you might find with group coverage, as mostly everything is covered with a copay.
3.
Are preexisting conditions covered? This is arguably the biggest pitfall of any individual health insurance plan, and so many people who get policies buy them without the realization that their current conditions won't be covered.
There may be something called an exclusion rider that precludes you from coverage for a condition that you're already being treated for.
If this is the case, you'll have to factor this into your annual medical costs, or you might be better off simply looking for another plan.