Life Essentials Magazine - November 2017

6
DO NOT VOLUNTEER
EXTRA INFORMATION
When your health insurer telephones you
during the insurance application process,
do not volunteer any extra information.
Be sure that you are only answering the
questions that they ask. If you volunteer
extra information they will make a record
of it, and may use it to raise your premiums,
or even deny you insurance coverage at all.
7
USING YOUR INSURANCE
FOR MEDICINES
You need to review your health insurance
policy to see if any prescriptions are
covered in the policy. This list can change
each year, so a prescription that is covered
one year may not be the next. Be sure to
check the list every time you re-enroll. No
matter what, you will save money by buying
generics over brand name drugs. Generics
are available in most cases and contain the
exact same ingredients as a brand name.
8
KNOW INSURANCE REGULATIONS
Remember that each state regulates
the private insurance companies under its
own jurisdiction, so interstate commerce
laws prevent private insurance from being
sold to you in one state if you live in
another. What this means is that you may
not be covered for a hospital visit out-ofstate.
Ask your insurer what the rules are
for you, and invest in travel insurance if
you plan to leave your home state.
9
KEEP TRACK OF YOUR
MEDICAL EXPENSES
You need to keep track of everything
that you spend on your medical care.
Prescriptions, doctor visit co-pays,
deductibles, and premiums all need to
be accounted for when you are searching
for new health insurance. Be aware of
what you can afford to pay for coverage
and deductibles, whether it is for you or
someone else in your family.
November 2017 |
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