Tips For Saving on Rehab Insurance
Americans shopping for their own rehab insurance can substantially cut premiums by following 10 simple steps, according to leading insurers.
You can save money by comparison shopping and exploring various options such as higher deductibles. The lower your deductible, the higher your premium. Comparison shopping also allows you to determine the best cost-benefit value.
For example, many plans cap coverage for serious illness so premiums may be lower than one with a high cap. Always compare benefits, deductibles and premiums and if you have a preferred physician, make sure that he or she is a participant in your plan.
Active role in health care decisions
Take the time to build a good relationship with your doctor and participate actively in your care. Every test and drug has some risk involved, and some tests may be defensive medicine. Ask what will happen if you choose not to take a drug or have a test. Your doctor may be able to suggest alternatives that are less risky and costly. Take proactive measures to guard you and your family’s health such as first aid classes and CPR certification.
Avoid hospitalization whenever possible
Over half of all health care costs are for inpatient care. Consider outpatient services or same day surgery as alternatives to hospitalization. Today there are more and better alternatives to inpatient rehab; always do your research.
Understand health risks
Good lifestyle choices, such as regular exercise and consumption of vegetables and fruits, have proven to make a huge positive difference on health even when started in older years. Choices such as smoking, alcohol and drug use, and poor nutrition contribute to a higher risk for health problems.
Contribute to employer sponsored healthcare savings account (HSA)
Health Savings Accounts are tax-protected accounts of up to $10,000 annually that can cover everything from the cost of band-aids to co-payments on doctor visits. HSA’s can be established by employers that only offer high-deductible healthcare insurance ($1,000 and over). HSA legislation went into effect last year and more employers are expected to set these up as a way to decrease insurance costs and offer a tax benefit for their employees.
Know what your medical benefits cover
Carefully study the medical benefits of various plans and always compare before you purchase. If you have a managed care plan, know about the plan’s grievance procedure and use it if you don’t feel you are getting adequate care. – do not be afraid to ask questions.
Check your rehabilitation center bills carefully
Billing errors are a common occurrence. Notify your rehab center and health plan promptly when errors are found.