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12/1/2016 by 
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Top Mistakes to avoid when it comes to Health Insurance

Healthcare plans can be fraught with confusion and are easy to make mistakes about. The problem is that these mistakes can turn out to be unpleasantly pricy. This article will showcase some common errors and how they can be avoided.

1)   I’m young and healthy! I don’t need health insurance.

You may not be prone to catching illness, but make no mistake: that could change at a moment’s notice. You can never predict when life strikes with an accident or a major illness. It’s always best to be prepared for such possibilities, even if you think they have a low chance of occurring. If you’re hit with a crisis, you need to be able to take care of it without suffering anxiety about how the medical costs are going to be covered.

2)   I don’t need to have any sort of idea about the insurance terminology

Now, you definitely don’t need to be an expert on the complex jargon involved in the health insurance field. But you do need to have at least a general understanding of what basic terms like deductible mean. This will allow you to know what you’re signing up for in greater detail.

3)   I don’t have money to waste, so I’ll always go for low premiums and lower coverage.

Premiums refer to the monthly payments you need to make, and coverage refers to what illnesses and accidents the healthcare plan will cover. Now, it does seem like common sense to go with the lowest premiums possible. However, it’s important that you cover your bases – carefully consider all your options and try to go with the plan that provides the most amount of relevant coverage.

If you aren’t being provided sufficient coverage, you may want to reconsider the plan. Don’t just look at insurance premiums as a cost, but as an investment into your health and future.

4)   I’m not sure how preventative care is different from diagnostic care

This ties back to the first point where you should be aware of what certain terms mean. You need to understand the distinction between preventative and diagnostic care. The former refers to procedures like vaccinations and cancer screenings that are administered when the individual is free from any symptoms. Diagnostic care, on the other hand, is when your doctor or health care provider wants to diagnose your symptoms or risk factors.

Now, under the Affordable Care Act, quite a few preventative care procedures can become significantly affordable. However, keep in mind that not every preventative care procedure is going to be offered to you free of charge or at lowered costs. And even when it is free or offered at lower prices, these procedures could potentially lead to other care that falls under the diagnostic umbrella. In this scenario, you’ll be charged for diagnostic care. This is why it’s important to always ask your doctor about the potential costs of any follow up visits in the future.

 

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