Common Avoidable Mistakes When Buying Health Insurance

​The costs of health insurance continue to rise as the years go by. Costs vary widely depending on the insurer as well as your policy. Choosing the right policy for your needs may be confusing. In fact, you can end up paying more than what is necessary if you aren’t careful enough.

​The good thing is that with a little research, you’ll have the chance of choosing the right policy for a reasonable price. Here’s a list of the costly mistakes you can avoid when getting health insurance.

Giving importance ONLY to the premium and deductible

A lot of people shopping for health coverage give more importance to their premiums and deductible. But there are other things to consider other than your insurance expenses.

While having deductibles may give you lower premiums, you’ll get higher out-of-pocket expenses during a covered event. Thus, weigh your options wisely. Bear in mind that health can be unpredictable. You may feel very well without knowing that you’re suffering from something. And with healthcare costs rising, lower out-of-pocket expenses should be greatly considered.

Not reading and understanding the policy terms

The top avoidable mistake people make is failing to read and understand the terms. Don’t hesitate to ask or consult your agent if there are things that need clarifying. Failing to do so may cost you in the long run.

Getting the same policy as your friend’s

We are all made unique. That also applies to our medical condition. Thus, a policy that works for your friend may not work for you at all. Determine your healthcare needs and choose only the coverage that is reasonable for you.

Buying too much insurance

Evaluate whether you need all the coverage you purchased. Some people make the mistake of getting too much coverage. In fact, there are others who get coverage for chronic diseases even when they’re not suffering from one. Get covered only according to your current health status.

Thinking that you’re “HEALTHY”

A lot of people make a mistake of not buying health insurance because they believe they’re healthy. If you suddenly become sick, and you need coverage to pay for medical bills, you’ll likely be unlucky once enrollment period has been closed.

Some people, however, may be able to get insurance outside enrollment period if they experience certain life events. These life events include adoption, childbirth, marriage, and relocation.

Not getting prescription drug coverage

If you’re routinely taking prescription drugs for your medical condition, consider signing up for prescription drug coverage. This coverage will help you save on medication expenses. Review your policy and ensure that it includes coverage for prescription drugs.

Failing to ask about health insurance discounts

​We offer various discounts that you can qualify in. All you have to do is ask one of our agents.

Seeking services from out-of-network providers

If your preferred physician is outside of your policy’s network, you won’t get any coverage. Thus, prepare to shell out some cash. Avoid this problem by ensuring that your doctor is listed under the network providers in your policy.

If your physician suggests that you see a specialist, make sure that he/she is within your network as well.

When it comes to health insurance, be wise enough to keep away from these avoidable mistakes. Read through your policies again and again, and make sure that you understand them well. This way, you’ll avoid unnecessary costs.

Here at Choice Enrollment, we take your health expenses seriously. We offer health insurance plans that will best fit your needs for a reasonable price. We have a system that helps you determine your personalized quote. Visit us today or call us at (719) 481-1616.