Federal law protects your right to access health insurance. There are provisions for employers to get group insurance for their employees. However, due to its practical limitations and shifting of government policies towards privatization, buying insurance on your own becomes a necessity. Finding affordable health coverage is important and, as it is with buying anything, intelligent buyers are always the happiest.
Through Your Employer:
a.Whether or not you move to buy insurance on your own, you should try to utilize the insurance bought by your employer. This will help you to save on any additional insurance which you might have to buy on your own.
b.Your employer renews their insurance policy annually. Before renewal, you are asked for input regarding the insurance providers which have different facilities to offer. Choose the most suitable for you who provides easy access and greater benefits. Review the deductibles and limits on your reimbursable expenses. Know what you will be paid and not be paid for.
c.If you have existing medical problems, choose one with higher premiums and lower co-pays. You are better benefited by doing so.
d.Sometimes, you may be able to get your premium reduced if you agree to lose weight or quit smoking. However, your employer can, in no case, impose higher premiums on you if you get ill or develop some medical problem.
e.Upon starting a new job, you should register for your employers
individual health insurance policy plan as soon as possible. You can take them to court if your employer denies covering you on the pretext that you had a medical problem prior to accepting the job. The laws (HIPPA) make it mandatory for employers to cover you for any previous medical condition for which you have been prescribed drugs by a doctor although pregnancy is not included .
f.When you are changing a job, try your best not to allow your insurance coverage to lapse. As per the federal law provisions, you are not insured if there is a lapse of 63 days or more in coverage.
On Your Own:
A.If you buy insurance with high deductibles, you get a health savings account that helps you in paying your medical expenses. This applies in both the cases: on buying insurance on your own and on buying it through your employer.
B.The Internal Revenue Service allows a contribution above $3000 and over $6150 for individuals and families respectively. The contributions are either pretax or deductible. Medical expenses are tax free.
C.Your savings are used for investments and are carried forward to the next year if you dont finish using themin the current year. Furthermore, you may carry the same account to the new job. You can make contributions up to age 65. After that, you can make taxable withdrawals for any purpose.
D.Using the internet to search for high deductable insurance is the most practical as most companies are readily working through this venue.
E.You may prefer to choose an affordable family health insurance, when you find that the coverage through the employer is not sufficient in providing the medical needs of your family.
