10 Common Mistakes to Avoid When Buying Health Insurance

Choosing health insurance is complicated, but a little homework can save you hundreds or even thousands of dollars a year.

8. Not inquiring about discounts

You may qualify for a premium discount after joining a wellness program offered by your employer or health insurance plan. Other discounts also might be available, such as price breaks for people who quit smoking.

9. Using out-of-network providers

If your favorite physician isn’t within your policy’s network, be prepared to fork over extra cash. You can avoid this problem by doing some research to ensure that your doctor is an in-network provider under the policy you select.

If your physician recommends that you see a specialist, make sure the specialist is in your network, too.

10. Ignoring prescription drug coverage

Do you routinely take prescription drugs for a medical condition? Failing to sign up for a policy that includes coverage for your medications can become very expensive.

Review the policy to make sure that its prescription benefit includes your medications.

What health insurance mistakes have you made in the past that cost you a substantial amount of cash? Let us know in the comments below or on our Facebook page.

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