There are many changes coming down the pike these days and most of them are government mandated which essentially means that you just don’t have a choice. Many of the choices have been taken from your hands and as a result you will probably notice that the cost of your health care plan is significantly more than it has been in previous years. And if you aren’t noticing a significant change in your premiums then it is really important to make sure that you look over your new health care plan more carefully because chances are that your benefits have been reduced in some areas to make up for the higher cost of the policy.
When you receive your registration package for the coming year, make sure you look first at your deductible and the amount of your co-payment. Watch for a higher deductible, higher co pay or a change of co-payment to co-insurance. A change of co-payment to co-insurance may seem like it’s going to cost you the same amount, but when you pay co-insurance, it is based and the percentage that you can really wind up paying is much more when all is said and done.
Another place to look at your policy for potential changes is in the field of exclusions and exceptions. These are usually contained in the written portion of your policy may end up costing you a fortune. Make sure you have read and reread your whole policy and maybe ask someone else to read it, to alert you to issues of concern. It can also be a good idea to take out the policy from last year, just so you can compare the wording of the two to help you locate the differences.
The good news is that some of the changes will actually be for the better and these include the ability to add children up to age 26 and the elimination of the lifetime maximum benefit on all insurance policies. And while they may not be able to get you with pre-existing health issues you may want to be careful because a lot of companies are eliminating child only policies because of the concern that these policies will attract the parents of ill children.
All insurance policies across the board are changing and that means that someone will pay for these changes. Whether you are paying for higher premiums or reduced benefits, there is really no free lunch. You will find that in one sense or another government proposed amendments will be coming out of your pocket, so read your policy and know what you’re getting into.
