The end of the year signals a time when many will be reminded to use their health insurance benefits or lose their health insurance benefits at the end of the year.
We wanted to give you 5 tips to maximize your money no matter if you currently have traditional health insurance or do not have traditional health insurance.
If you are healthy, rethink your coverage. Yes, I want you to not only look into your exact insurance plan and what is covered, but from there rethink your coverage entirely. How often do you see a Registered Dietitian, go to the doctor, get prescriptions, etc? Take the average out of pocket cost from the health professionals you see through your insurance and compare it to how much you are spending monthly on your insurance. If you are spending more on just paying your monthly insurance premium, ask yourself, why? Sometimes it is much more cost effective to get extremely basic insurance or an insurance health share (we can explain more on what this is another time) and then put what you truly pay out-of-pocket into an FSA or HSA so you can use this money tax free. This simple tip could save you thousands a year.
Know your insurance benefits. It is estimated that roughly 60% of those with insurance do not know they are covered to see a Chiropractor, Acupuncturist, or Registered Dietitian! You should take an hour or two, either in your insurance portal, on the phone with an insurance representative, or just doing your own research to see what exactly your plan covers. Knowing what your exact plan covers can save you the headache of getting hit with out of pocket costs when visiting a provider. A doctor or dietitian's office is not responsible for knowing your coverage. They are there to be experts in the care they provide, not your specific insurance plan.
Know your deductible. What is a deductible? This is the amount you will need to pay before your insurance will begin to pay. Traditionally, if you have a very high deductible you are paying less every month to your insurance, however, this means that you will need to pay that amount out of pocket before your insurance will cover any of your visits. For example, patients we see in our practice may have deductibles of $700 depending on their plan, meaning it would take the roughly 4 visits with us to meet their deductible. The good news is that as long as you are reporting to your insurance what you are paying at all offices you visit (dietitian, primary doctor, or specialist) all of these costs will go towards meeting your deductible so your insurance will start paying.
The end of the year is approaching, use it or lose it. Maybe you have met your deductible, but now the end of the year is approaching. You are not going to lose your insurance coverage (unless you cancel). What we are saying is that come January 1st you will have to meet that deductible all over again. Make sure you maximize what your insurance will cover before January 1st.
Vote for change! It is absolutely no secret that the American healthcare system is overpriced, over-lobbied, and in need of massive change. This will not happen if you and many others you know continue to pay into this broken system. You can vote multiple ways in order to enact change:
Vote with your dollar. Choose insurance plans or cost sharing plans that actually work for you and are run by companies that care. Utilize the tips in this article and share with friends and family!
Opt out of traditional insurance entirely! Again, this works best if you have no chronic disease or no strong family history of disease.
Vote in local and federal elections for candidates that are passionate about true healthcare reform and pricing transparency.
Make it a top priority to become the healthiest you possible. When you are disease free you can take full advantage of tip #1 and that is really just the beginning. Health is truly wealth monetarily, mentally, physically, and emotionally. You take power away from price gauging, lobbyists, and overspending governing bodies by being healthy. Truly amazing! We are here to help you with this and beyond. For some delicious recipes packed with fiber and filled with a variety of plants make sure to get our NEW Gut Health Blueprint (Free Download)
Thank you for supporting our mission to Heal with Each Meal!
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