7 Tips To Lower Your Total Out Of Pocket Health Insurance Cost
If you purchased a high deductible health insurance policy you may wonder how can you lower you total out of pocket exposure. High deductible plans can be a blessing or a curse if you do not know how to use them. Here are - tips to help you get the most out of your policy.
Always choose a plan that includes doctor office copays if you can afford it. This will limit your total out of pocket for a routine office visit to the amount of your copay which is usually between $5-$50 depending on your contract. Annual preventative care visits are now covered 100%.
Instead of going to the emergency room for minor ailments visit your primary doctor or an urgent care facility like a pharmacy clinic such as CVS Minute Clinic or Patient First. Visits at these facilities are much less expensive.
Purchase a supplemental insurance policy that covers accidents as well as critical illnesses to cover you at least up to your total maximum out of pocket. If you can find a plan that also includes a per day hospital stay provision. In the event you have an accident, become critically ill or have an extended hospital stay these types of policies can cover all or most of your total out of pocket maximum.
Purchase a lump sum accident or critical illness policy. This type of policy will pay you a lump sum of money in the event you suffer from a covered accident or illness named in the policy, which you can use to cover your living expenses while you recover.
If you currently have life insurance check to see if it has living benefits. There are many policies that will let you receive part of your benefits while you are alive if you suffer from an illness or disability covered in the policy. Some policies include living benefits as part of the policy and others give you the option to add it on. You can use the funds anyway you see fit. If you are already paying for a policy it’s worth looking into. Especially if the new policy cost only slightly more than you are currently paying.
Always stay within your health insurance policies network when ever possible.
Read your policy. Many times there are provisions in your policy that you are not aware that can save you money such as Teledoc services that can save you a trip to the doctor when you have a minor illness, plus other discount services such as dental or vision care. Using these services can help save you money over time.
By following these tips you maybe able to lower your total out of pocket cost even if you can only afford to purchase a high deductible bronze plan. For more information, check with a licensed insurance agent in your area, who is familiar with these products.