The start of a new year is a great time to review your employee benefits and ensure you get the most out of your health insurance plan. Here are a few tips to help you maximize your coverage and save money on healthcare costs in the coming year:
Understand your plan: Make sure you know what your plan covers and what it doesn’t. Review your policy and understand what your out-of-pocket maximum is, as well as your deductible, copayments, coinsurance, and referral requirements. You can find these details in your Summary of Benefits and Coverage (SBC) and I have 2 helpful videos, linked here and here.- Ask for a pre-treatment estimate: The cost of medical procedures and testing costs have skyrocketed over the last few years. Ask your provider to provide a pre-treatment estimate so you are aware of what you will be responsible for paying. I provide further information in a helpful video, linked here.
- Shop around: Before you schedule a medical procedure or test, check prices at different providers. Prices can vary widely, so it pays to shop around.
- Utilize telemedicine: Telemedicine is becoming more popular, and this is a great way to access medical care without leaving your home. Many insurance plans now cover telemedicine visits, so take advantage of this option whenever possible.
- Take advantage of preventive care: Under the Affordable Care Act (ACA), health insurance plans cover preventive care services, such as vaccinations, screenings, and check-ups, at no additional cost. Taking advantage of these services can help you stay healthy and catch any potential health problems early on. Check out my blog post, linked here, to learn more about the preventative services covered under the ACA.
- Ask for generic drugs: Whenever possible, ask your doctor for a generic version of a medication. These are often cheaper than brand-name drugs and are just as effective.
- Use in-network providers: When possible, choose providers that are in your insurance plan’s network. This will help you avoid higher out-of-pocket costs.
- Take advantage of discounts and wellness programs: Many insurance plans offer discounts or incentives for healthy behaviors, such as quitting smoking or losing weight. Look into these programs and take advantage of them when possible.
By following these tips, you can maximize the benefits of your health insurance plan while reducing healthcare costs throughout the year. It’s always a good idea to review your plan regularly and feel free to contact me with any questions you may have. You can learn more about the Employee Advocate services provided, here.
Sara Closson, BCPA
Employee Advocate
SClosson@AcadiaBenefits.com
Phone: 207.523.0065
Toll-Free: 866.761.2426
Top