Medical Insurance Review

As 2016 comes to a close and you begin 2017, consider taking a few minutes to do a medical insurance review and become familiar with your policy benefits.

Review your Medical Insurance Policy
  1. Do you know what physicians, hospitals, other qualified health providers and pharmacies are covered by your 2017 insurance policy?
  2. What is considered in network and out of network?
Accessing your medical insurance policy information

Create a login to the insurance provider’s website. You will then be able to find your policy benefit information, track your spending for the year, review claim information, etc.

How much will you pay?

Know your deductible and co-pay responsibilities in advance; how much you are going to pay out of pocket when you access the health care system.  Many policies have higher out of pocket obligations for patients in the coming year.

Prescription coverage
  1. If you are on a maintenance medication; something you take on a regular basis, is it more economical to obtain it through mail order?
  2. Does your policy have a preferred pharmacy?
  3. What is your out of pocket expense if you prefer brand named drugs rather than generic?
Medical Insurance Review: FSA Account

If you had an FSA account in 2016, make sure you have the required receipts for reimbursement.  Submit your claims as soon as possible in January.  If you did not spend the monies in your account before December 31, you have forfeited the account balance.

The Reason for Medical Insurance Review

I strongly encourage you to become familiar with your medical  insurance coverage before you need to use it.

Don’t hesitate to ask questions when visiting your health professional. And, consider writing down both your questions before your visit as well as what you discuss during your visit. You would be surprised how often you forget what was discussed after you have left the doctor’s or health professional’s office.

Health Insurance Changes in 2017

We all anticipate changes in our health insurance coverage because of the recent national elections. What we don’t know is what changes might happen, when they will become effective, and how much they will cost all of us, either through our individual coverage or on a state or federal level. At present there is more conjecture than facts available for consideration. Here is a recent article on the subject:

https://shar.es/1DhpmM

Best wishes to everyone for a happy and healthy 2017. Be prepared for your health care needs by doing a medical insurance review soon.

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