Foster, Marmes and Associates is a Wisconsin based insurance company that exists in part to help people avoid making these common mistakes when purchasing health insurance. Their goal is to help you find the best health insurance plan that meets your needs for the best price. Contact Foster, Marmes and Associates to make sure you avoid the mistakes below.
Not Reading the Fine Print in Your Health Insurance Plan
It might seem obvious to some, but that doesn’t stop people from neglecting to read the fine print in your chosen health insurance policy. Unfortunately the verbose and technical jargon can make the health insurance policy’s finer points difficult for some to comprehend. Fortunately the licensed health insurance agents at Wisconsin’s Foster, Marmes and Associates are experts on reading, understanding, interpreting, and explaining the fine print in all the policies they sell. Their services don’t cost consumers anything and in the long term it can potentially save a bundle.
Failing to Know and Understand Your In-Network and Deductible
Health insurance plans are often based on in-network and out of network healthcare. Monetarily speaking it is beneficial to use healthcare providers that are in your insurance plans’ network. Out of network healthcare is at a premium cost and many people fail to adequately consider this before visiting a doctor, specialist, or emergency room. Oftentimes in-network and out of network will have different deductibles as well.
Neglecting to Tell Your Insurance Company About Applicable Changes
The Affordable Care Act also known as Obamacare offers subsidized health insurance pricing for those who qualify. Neglecting to tell your insurance company when there are changes to your income or household size can affect your taxes and insurance pricing so it is always better to ask your insurance agent about where you stand and when you need to inform your health insurance provider.
Not Asking Your Health Insurance Agent Questions
A huge advantage to having a dedicated health insurance agent is the ability to ask them questions about your health insurance plan. If you have questions about your policy and benefits, it’s best to ask. Most health insurance companies also have dedicated resources for policy questions and their personnel should be happy to answer any of your questions.
Purchasing More Health Insurance Than You Need
Purchasing an insurance policy with more benefits than you really need can end costing a significant amount of money in the long run and if it involves benefits you will never use then it would be money better spent elsewhere. It’s a good idea to call your health insurance company and review your policy regularly to make sure it is the best policy for your needs.