Health insurance isn’t a luxury. To help you manage your health care costs, most of our plans include broad coverage for in-network preventive care that is exempt from your plan deductible, coinsurance, and copayments, so your spouse or children won’t miss a checkup. And if bad luck deals out major medical expenses, you’ll sleep better knowing your health insurance can help protect you from the largest costs.
Your overall health is an important factor in predicting how much medical care you might need now and in the future. Keeping yourself healthy through a good diet, regular exercise and other healthy choices is one way you can proactively work to keep your health care costs low.
Smokers are at risk for developing a host of smoking-related health issues – insurance companies charge smokers higher rates to cover these risks. So, kicking the habit means lower premiums. (And, not buying cigarettes keeps more money in your pocket too!)
The timeless saying, “an ounce of prevention is worth a pound of cure,” can often apply to managing your health care costs. Preventive care – available in many of our health and dental insurance plans – can help you and your health care provider treat problems before they become more serious…and expensive. With the high cost of medical care, this isn’t just what’s best for your health, it’s also best for your bank account.
Changing the amount of your deductible can save you up to 50% off your monthly health insurance premium. If you are healthy and don’t have a lot of prescription costs, then you might consider increasing your deductible to an amount you feel comfortable with to lower your premium.
HSAs are great because they are tax-advantaged and let you have more power to control where your health care dollar is spent. By pairing the savings account with a health plan with a higher deductible, you can meet your deductible faster by using your tax-deferred dollars toward covered expenses and prescriptions.
Advantages of an HSA:
Did you start a new job? Did you welcome a child into your family? Did you graduate from college? Certain qualifying events can make you eligible for a special enrollment period. And because change is constant, it’s a good idea to reevaluate your health insurance coverage when “life happens” as well as prior to open enrollment to make sure you are always covered appropriately.
Your life changes. Your insurance should too.
1 Optional benefits require an additional premium cost. Products vary by state.