Money Savers And Tips

Have you chosen to go on COBRA

COBRA may be a good option for someone that has serious pre-existing conditions or ongoing health problems. Obtaining new coverage in these instances can be difficult. However, you should always know your options. However if you are healthy and look into all the available individual coverage options you will save a considerable amount of money.

Are your Spouse and Dependents on your group plan

Group coverage is typically 2-3 times more expensive than an individual plan because it is guaranteed issue. The employer generally pays for 70-100% for the employee, but nothing for the spouse and dependents. You will save money by getting an individual plan for your spouse and children.

Don’t be afraid of a higher deductible

Plans in the past typically wouldn’t pay any benefits until you met your deductible for the year. Today, all your day to day needs are either covered by co pays or covered at 100% for preventative services and your deductible generally doesn’t come into play until you need surgery or admitted to the hospital. So don’t be afraid of a higher deductible…..if you get admitted to the hospital you will meet the deductible about the same time no matter if it 500 or 2500.00.

Is your child on a college or student plan?

College plans are typically required when your child attends college. Some college plans only have providers around the school area, so if he needs to use it when he is at home it may be difficult. Also, the school plan is only good while your child is attending college, so once he graduates he/she will have to look for an individual plan and hopefully is not diagnosed with a pre-existing condition during college which may prevent them from obtaining coverage, so start with an individual health plan.

Contact HCE to see if we can help you save money