While health insurance policies may not be the most exciting thing in the world, the truth is that the right health insurance plan can protect you and give you a lot of peace of mind. This is especially true in the event of a medical emergency, although a great medical insurance policy can cover your preventative care as well. Unfortunately, there are a lot of mistakes that can be made when it comes to health insurance; by being aware of these mistakes, you can avoid making them yourself.
Forgoing Health Insurance
Perhaps the biggest mistake you can make is simply assuming that you don't need health insurance because you're young or because you haven't had any health problems in the past. In reality, a medical problem or injury could occur at any time, and being without insurance means you'll be stuck paying 100% of the bill. Meanwhile, some states actually require that you carry health insurance, and you can be penalized if you don't have coverage throughout the entire year.
Choosing the Wrong Deductible
Your health insurance deductible should be selected carefully when you choose your plan. That's because your deductible is the amount you'll be responsible for paying out of your own pocket in the event of a claim. Once you've hit your deductible for the year, your insurance will cover any eligible expenses beyond that.
Selecting a higher deductible can be tempting because this will lower your monthly premiums. However, if you choose a deductible that's too high for you to comfortably afford, you could be in financial trouble if you run into a medical issue. Ideally, you should select a deductible that you will be comfortable paying at any given time.
Not Understanding Your Network
If you have doctors or specialists that you're currently seeing, make sure that the medical plan you choose lists these providers as being in-network. Otherwise, the services you receive from them may not be covered by your insurance policy, and you may end up paying out-of-network expenses. Calling your doctor's office and asking which insurance providers they accept is generally a quick and easy way to determine which plans will be in-network, but you should always confirm with your insurance carrier before buying.
Choosing the right medical coverage is important, no matter what stage of life you may be in. A quality healthcare plan will give you peace of mind when it comes to your health and wellness, so be sure to avoid these common mistakes.
Contact a provider of health insurance like Medi-Cal for more information.