The start of a new year is a great time to review your health insurance policy. It only makes sense to take full advantage of the coverage you’re paying for—especially when doing so could improve your health and quality of life.
Learn how to maximize in-network treatment. Read your benefits summary now—it could mean big savings later. You might learn, for example, that your plan has 20% coinsurance for both in- and out-of-network emergency room services. If you are admitted to the hospital, however, your coinsurance for an out-of-network stay will be 50%.
Read your plan documents. You’ll find a comprehensive explanation of your benefits in the summary plan description. You might learn that you have 30 covered physical therapy sessions that could help with your chronic back pain, audiologist coverage that could help with your tinnitus or mental health benefits that could help with your anxiety.
Use your preventive care benefits. Find out which in-network preventive health care services your plan covers at 100% before your deductible. Items that may be covered include:
- routine physical exams.
- routine blood tests.
- immunizations.
- well-woman exams.
- contraceptive drugs and devices.
- cancer screenings.
- cholesterol-reducing drugs.
- screening for depression and anxiety.
Know your cost-sharing limits. Can you schedule several expensive procedures in a single plan year? If so, some of your bills could be 100% paid by your plan once you meet your annual out-of-pocket maximum.
Look for discounts and perks. Some plans have negotiated deals with companies that sell health-related items. You could save on fitness trackers, exercise equipment, tennis shoes, supplements, laser vision correction and more.
We know it can be tricky to understand the details of your health insurance coverage. We’re always happy to answer your questions or help you find the information you need.