Health Insurance Checklist for the New Year

Have you compared rates in the past Year?
New plans are introduced all the time and if you’re healthy you may be able to reduce your monthly premiums. If you consider a higher deductible plan, be sure you can afford the deductible in case of an accident or illness.

Are you paying for benefits you don’t need?
Guys, you don’t need maternity coverage! Ladies, you don’t either if you are past your child bearing years! If you’re paying for benefits you don’t use (like maternity or chiropractic care), you might save money with a plan that excludes those benefits. On the other hand, if you’re paying too much out of pocket for recurring medical services (like prescriptions or checkups), consider a plan that adds these benefits.

Can you save by mixing and matching health plans?
If your whole family is covered under a single plan, you could be missing out on savings. When some family members are healthier than others, or see doctors less frequently, or don’t need certain benefits like Prescriptions or Maternity, you might save by tailoring the coverage to your individual needs.

Have you experienced any big life changes?
If you recently had a child, shift in income or change in marital status – or if you anticipate these events in the year to come — it may be time to change your health insurance coverage.

Have you talked to your broker or accountant about tax advantaged H.S.A. Plans?
If you are self employed, or otherwise have an individual policy, there are many great reasons to consider an H.S.A. if you are relatively healthy and don’t need prescription drug coverage.