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5 Tips to Maximize your Insurance Coverage


by Wendy Dessler


When it comes to health insurance, choosing the right coverage plan can make a significant impact on your life. From saving you money on medical expenses to ensuring you receive the best possible treatment, health insurance is a literal lifesaver.

In addition to choosing the right plan, maximizing your coverage each year is vital for your health and wellness. Here are five tips to get the most out of your insurance plan by maximizing your coverage.

Choose the Right Supplemental Coverage

To maximize your coverage, you must first understand what aspects of your medical expenses fall under the umbrella of your insurance plan. Basic plans leave a lot of gaps, and these gaps leave you and your family vulnerable. That's why it's integral that you choose the right supplemental coverage.

The supplemental coverage you need will depend on your unique life situation. Take your time to find the best dental insurance option, as well as the best vision insurance plan. You should also consider things like additional prescription drug coverage and upgrades for special treatment needs.

Keep Organized, Detailed Records

It's up to you to advocate for yourself when it comes to both your insurance coverage and medical expenses as a whole. Keep detailed records of all of your bills, as well as correspondence between you and your health professionals. It's even wise to go as far as keeping a notebook that outlines conversations you've had on the phone or with your doctor, including times and dates that they took place.

This detailed record-keeping is essential in securing the coverage you pay for and appealing any mistaken charges. Unfortunately, medical billing errors take place every day, and the onus is on you to prove your case. If you have concerns, reach out to a medical billing advocate.

Stay Within Your Network

Chances are, your insurance will cover a specific network of healthcare professionals. This can be challenging for those who end up with a network that only allows medical professionals who are far away from your home or aren't your first choice.

However, to make the most of your coverage, stay within your network. If you have to travel to see your doctor, keep your mileage receipts for tax season. Do what you can to bulk up your appointments to be more efficient.

Take Advantage of a Maxed Out Deductible

If you hit your deductible-- the money you have to pay before coverage kicks in-- then take advantage of the situation. Book appointments that could otherwise wait, refill your prescriptions, and address even the least concerning issues.

Be sure to evaluate whether it would be better to have a traditional health insurance plan or a high-deductible plan. Generally speaking, high-deductible plans have lower premiums and broader network options. On the other hand, it will take longer to hit your deductible, and your out-of-pocket costs may be higher.

Shop Around and Compare Prices

To get the most out of your health insurance coverage, be a smart shopper. Investigate options for getting lower-cost wellness check-ups or visiting medical providers outside of urban centers as they tend to charge less.

There are plenty of opportunities to save on prescription drugs, as well. Look for pharmacies with lower dispensary fees or get your prescriptions in bulk rather than paying a flat rate numerous times. Consider swapping out your brand name medication with a generic alternative.

You can also shop around when it comes to insurance providers and plans. It's important to dedicate time each year to analyzing your expenses and determining if you're paying for more coverage than you require or if supplemental insurance could help you save.

Being a smart consumer is essential when it comes to maximizing your insurance coverage. Know when to spend and when to save, and be your own spokesperson when it comes to dealing with expenses.

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