Make Sure to Check These Health Insurance Points

NY Health Insurance

You know the big ticket items and what you need when you are looking for health insurance, or do you?  There are a number of key points that agents won’t bring up that you ought to check before you choose a New York health insurance policy!  Here are some top points that you need to know!

1. Are You Fully Covered in All Events?

You need to check your health insurance policy!  There are a number of New York health insurance plans that have exclusions that eliminate your benefits for anything that “could have” been covered under Workers Compensation or similar laws.  This can have a huge impact on you in the event of certain health issues!

There are designed insurance plans that will cover you on and off the job each hour of a day, if you are not required by law to have Workers Compensation coverage.

2. Taking All the Deductions?

Are you taking advantage of owning your own business?  Independent contractors (1099’s), home based business owners, professionals and other self employed people generally are not taking advantages of all the tax laws available to them.

Many people who are paying 100% of their own costs are eligible to deduct their monthly health insurance payments even in New York! Just that alone can reduce your net out of pocket costs by as much as 40%. Ask your tax professional to see if you are eligible and check out the IRS website for more information.

3. Know the Internal Limits for Your Plan

Know what an “Internal Limit” is?  In an insurance plan, the insurance company has pre-set controls for what they will be paying out for each particular service or or health procedure. There are two basic methods.

The first is scheduled benefits.  Many plans, some of which are specifically marketed to self employed and independent people, have a clear schedule of what they will pay per doctor office visit, hospital stay, or even limits on what they will pay for testing per 24-hr. period. This structure is usually associated with “Indemnity Plans”. If you choose one of these plans, be sure to see the schedule of benefits, in writing. It is important that you understand these type of limits up front because once you reach them the company will not pay anything over that amount.

Usual and Customary refers to the rate of pay out for a doctor office visit, procedure or hospital stay that is based on what the majority of physicians and facilities charge for that particular service in that particular geographical or comparable area. “Usual and Customary” charges represent the highest level of coverage on most major medical plans.

4. Make Sure to Shop Around

If you are reading this you, are probably shopping for a health plan. Every day people shop, for everything from groceries to a new home.  With this in mind, it is very disconcerting that most people never ask what a test, procedure or even doctor visit will cost. In this ever-changing health insurance market, it will become increasingly important for these questions to be asked of our medical professionals. Asking about price will help you get the most out of your plan and reduce your out-of-pocket expenses.  With rising costs in everything, saving money on your New York health insurance would be a step in the right direction!

5. Networks and Discounts

Almost all New York health insurance plans and benefit programs work with medical networks to access discounted rates. Networks consist of medical professionals and facilities who agree, by contract, to charge discounted rates for services rendered. In many cases the NY health insurance network is one of the defining attributes of your program. Discounts can vary from 10% to 60% or more. Medical network discounts vary, but to ensure you minimize your out of pocket expenses, it is imperative that you preview the network’s list of physicians and facilities before committing. This is not only to ensure that your local doctors and hospitals are in the network, but also to see what your options would be if you were to need a specialist.

Ask your agent what network you are in, ask if it is local or national and then determine if it meets your own individual needs.

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New York Dental Insurance - Tips to Consider

New York Insurance

These days, there are so many New York dental insurance plans to choose from that it can be a tough task to determine which plan is best for your needs or the needs of your employees. Here are a few tips that might help you make that decision:

1. Look online for NY insurance companies - An online comparison of companies and dental insurance options for residents of New York can provide insurance with the greatest flexibility and best price. The available plan types are extremely varied and an online comparison can allow you to see what the specifics of each plan will be.

2. Compare prices for New York dental insurance plans - While a broker might be able to help you fine tune your decision, you can also quickly and easily get compare your options online.  This information can provide information that can help you select a plan that fits your budget.  After you’ve come up with some options, you are better able to make a determination with your broker.

3. Benefit Comparison - There are a number of issues that you should consider when purchasing a dental insurance plan. Here are a few to consider:

• Will I be able to select my own dentist?

• Are there select dates and times that a dentist may restrict visits by individuals that are a part of a particular plan?

• What are the co-pay costs or expenses for me with each policy?

4. Determine Personal and Family Needs - You should determine what your objective is in obtaining dental insurance. Do you need orthodontic coverage?  Do any family members have special dental requirements? When you understand your motivation and needs you’ll be better able to select a plan.

Like all other New York health insurance plans, having dental insurance can assist you in managing rising costs of dental health.