Many people these days are searching through the new options for health insurance that are available – trying to reduce out of pocket expenses. But, they are not alone in wanting to lower their medical costs. Even employees who are still covered by their employer’s health insurance plans are trying to find ways to save money because medical insurance premium costs are going up and so are out-of-pocket expenses and deductibles. Even co-insurance and co-payments are increasing.
The time to examine all of the options is during the open-enrollment period at the end of each year. But before making any changes, it is important to carefully analyze all the options. There are three major elements on which employees should focus.
Your first move should be to compare your plan with the one offered by your spouse’s employer. Sometimes changes in the cost of plans can determine which employer has the most appealing plan. It may also determine whether both of you should choose the same employer’s plan. In addition, make sure to carefully weigh which hospitals and doctors are in each network and consider each insurer’s reputation. You can get this information from your doctors directly. It’s also important to remember that some companies will no longer insure the spouse of an employee if they are able to be covered by their own employer.
If you are the position where both you and your spouse are working for employers who are offering health insurance, carefully compare how much it will cost to get coverage separately instead of having one employer cover both of you. In addition, assess the coverage costs for any dependent children with each plan.
It’s not a good idea to routinely sign up for coverage with both employers for either spouse. There are some couples who think that this will give them double coverage and, as a result, more of their health care costs will be covered. However, that’s not usually true and any added coverage might not make the added premiums worthwhile.
Analyze wellness program requirements. There are now many companies who will offer their employees certain discounts on their health insurance premiums if they are willing to sign up for a wellness program, such as weight control or to stop smoking. Beginning in 2014, employers will be free to put those discounts at as much as 30% of the premium, up from the 20% that was offered in 2013.
If you decide to follow one of these wellness programs, know that they often ask employees to have blood tests, weigh-ins and other physical assessments fairly often. Some employees think this is over-involvement in their lives on the part of the employer.
If you’ve consolidated your health insurance as described above, have you thought about an Ameriplan discount medical plan to save even more on out of pocket expenses?
The Ameriplan discount medical plan can save up to 50% on all your medical bills, has no waiting period and pre-existing conditions are welcome! And, it’s only $49.95 per month for your entire household!
Consider dropping your dental insurance. Many times, employees that have dental insurance tend to spend more than if they have insurance for their dental procedures that are routine. The reason for this is because dental insurance does not have the large subsidies that employers used to provide. Sometimes, there is no subsidy at all. In many cases, you could be paying $300 or even more per year with a large deductible. The insurance might cover only half the cost for any major procedures and, in addition, the total of the coverage is often only up to $1,000 or $2,000.
If you don’t have any big dental problems in your family, it’s a good idea to contact your dentist to find out how much routine appointments might cost if you don’t have insurance. Then check to see if this is more or less than you will pay per year for dental insurance. You will also need to add in any out-of-pocket costs you might incur even though you have coverage. Of course, there is always the risk that you could have unanticipated dental costs and you might have been better off if you had purchased the dental insurance.
Why not consider an Ameriplan discount dental plan? The Ameriplan discount dental plan covers your entire household for only $19.95 per month and typically offers discounts of up to 80% on all dental services!
AmeriPlan discount health and dental plans are designed to save you money while providing the health and dental care you and your family needs. Get started now and you’ll be amazed at the level of medical and dental services and the low cost.
*The merchants and the savings associated with their respective products and/or services offered are subject to change without notice.
Let Ed & Bernard show you how to reduce out of pocket medical expenses!