With health insurance costs taking a big chunk of family budgets, it’s important to maximize your health coverage each year. Here are some tips to make the most of your health insurance coverage.
Manage your deductibles. When you meet your plan’s deductible, schedule any routine annual appointments, such as dermatology appointments and eye doctor visits. Ensure you don’t run out of medications, even if you only use them as needed. Most pharmacy plans will fill 90-day prescriptions at a savings. It’s better to stock up on your supply of medications to delay paying deductibles as long as possible into the next deductible year.
Use mail order for prescriptions. Save yourself the stress of running to the pharmacy (and avoid exposure to sick people) by using the 90-day mail plan offered by most pharma benefit providers.
Scrutinize every billing you receive. Begin each year by naming a file, including the year, such as “Medical bills 2021.” Keep every bill you receive from your doctor. When you receive your explanation of benefits, compare the two and ensure the provider billed your insurers only for services they provided. Also, make sure that your insurer paid according to your plan’s agreement.
Fight questionable billings. Following hospitalization or surgery, be sure you aren’t overbilled. If you receive a bill you don’t understand or you question some of the charges, consider hiring a medical advocate to review the bill. Advocates save you money, usually by charging a percentage of the savings, but only when they find errors. In some cases, the savings can be thousands of dollars.
Manage your providers. Don’t go out of network unless you can’t find a good provider in-network. Work with your insurer if you can’t find a doctor you trust in-network. Your insurer can usually recommend a good provider, and you can check that doctor’s reputation online.
For more timely tips about managing your health benefits, give us a call or email us.