1. Do I need insurance?
No matter how much money you make, if you do not have health insurance you will still pay out of pocket for medical bills. If you work hard for what you earn, you should not have to worry about paying for medical expenses. You may not think that you will ever need healthcare services, however, chances are high that at some point you will get sick, injured, or even be involved in an accident. Medical care is expensive, and having health insurance coverage helps you avoid potentially huge financial burdens.
2. Can my employer offer me health insurance?
Many employers offer health insurance plans to their employees these days. However, because different states have different laws regarding health insurance, it is best to check with your state's department of labor. In addition, many companies require you to purchase private insurance along with the company plan.
3. My parents don't have health insurance. Should I?
If your parents are over 65 years old, they qualify for Medicare, which provides them with access to free government-sponsored healthcare services. These services cover everything from routine doctor visits to hospitalization. If your parents are under 65, they will probably want to continue taking advantage of Medicare. But if they have no children or grandchildren who live at home, they may decide to enroll in Medicaid instead. Under this program, the federal government pays most of the cost of providing healthcare coverage to low-income people.
4. How can I find affordable healthcare?
There are several ways to look for affordable healthcare options. One way is to visit a community clinic or physician's office once a month to monitor your general health. Another good option is to join a wellness program offered by a local gym or fitness center. Many times, these programs provide discounted rates for memberships. Lastly, some websites allow consumers to compare the costs of various healthcare providers and products without leaving home.
5. What are a deductible and co-pay?
A deductible is an amount that you pay before any insurance covers the costs. A copay is a percentage that you pay after the deductible has been met. When choosing a health insurance plan, it is important to know the difference between those two terms.
6. Is it true that I can only change my health insurance once annually?
Yes, this is true. Most policies require you to renew your policy each year unless you are changing insurers. So, just remember to renew your current policy before January 1st of the following year. Make sure you choose a policy that fits your budget and your family's health needs.
7. Why does my insurance provider raise my premiums every time I get sick?
Insurance companies raise your premium rates when they believe your risk of filing claims is increasing. Sometimes, when you file a claim for a particular condition, your insurer can determine that you are less likely to have future problems related to that condition. This leads your insurer to increase your premium rate based on this information. If you notice that your premiums are going up, speak to your broker or agent to learn more. Additionally, ask questions.