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This year’s open enrollment for individual and family plans began November 1 and ends January 15, 2022. Understanding the basics of health insurance and how your plan works can help you get the most out of your plan and to make more informed decisions about your health and the care provided. Don’t be fooled by these three common misconceptions about Medicare.
“If I don’t go to the doctor regularly, it’s not worth having a health plan.”
If you or your family don’t have an illness or illness to deal with, you might not think that having a health plan is important. This is a dangerous, even fatal, perception that can cause more harm, especially if you or a loved one becomes ill. Today, health insurers like SelectHealth offer many benefits that go beyond the basics.
Most plans cover preventative services that can help you stay healthy or catch problems early when they’re easier to treat. These services, often 100% covered, include vaccinations, cancer screenings and annual medical examinations. Many also offer discount programs for services like acupuncture, LASIK, and gym memberships. Take the time to understand all the benefits of a health care plan, as you may see more value in it than you originally assumed.
âI only have to pay my monthly premium to cover all of my insurance costs. “
Your premium is the monthly bill you pay for insurance coverage and for being a member of your health plan. You will pay your doctor for all the care and services that were provided, not your health insurer. After your visit to the doctor, your health insurer receives a request which is then processed and will send you an explanation of benefits (called an EOB), which explains what was billed and how much you have to pay. An electronic version of this document is also sent to your physician, along with a check for any applicable payment. Refer to your EOB before making a payment to make sure the invoice you received is for the correct amount.
âI can’t afford an insurance plan. “
It may or may not be true. You might be surprised at the options available to you. Before signing up for a plan, it’s worth taking the time to determine if you qualify for a grant or a cost-sharing reduction. You may be able to reduce the overall cost of your premium.
At a minimum, health insurance should make sure that if you get sick or have an accident, you won’t go bankrupt trying to cover medical bills. Health insurance is not always easy to understand, even if you have been with a health plan for years, and you are not alone if you feel lost. However, it’s important to take the time to learn more about Medicare and what plans have to offer.