Are you getting the most out of your health insurance plan?
Most of us leave money on the insurance table, not deliberately. We’re busy living our lives. We think about health insurance when we need it. Sometimes we consider our health insurance annually or when a life event happens like a birth, marriage or other significant life change.
But even then, we’re overwhelmed by insurance. About 50% of people in the United States spend less than one hour researching benefit plan options on an annual basis. Given that over half of the U.S. population gets health insurance through their employer or through the open market, that’s a lot of people (over 150 million) making decisions that can and will adversely impact their pocket.
It’s estimated that 42% of people waste about $750 each year (at least) by making mistakes with their insurance benefits or by not taking advantage of features readily available to them.
What would you do with $750? Would you be willing to spend more than one hour a year to keep $750 (or more) in your pocket, perhaps a few hours?
Be an active consumer of your health insurance throughout the calendar year, not just when the need arises. Focusing on the little things is probably the most important strategy you can take to get the most out of your health insurance:
• Read the fine print
• Keep good notes
• Learn how to navigate your health insurance plan
• Don’t assume what you’re told is accurate; trust but verify
To learn more about how to maximize your health insurance, follow periodic blog posts or read the Maximize Your Health Insurance book, available on Amazon Kindle or in paperback from Amazon, as well.