The ACA (Affordable Care Act) has made people stop and think about health coverage, but that does not mean that Americans are using their policies more intelligently. Everyone with health coverage, whether they’re insured through the marketplace or through someone like Patrick Court, should be careful to avoid the following mistakes.
Not Looking at the Entire Picture
The most common health insurance mistake is that people only worry about deductibles and premiums. While these factors are important, focusing on them exclusively is akin to choosing a vehicle based only on the payment, and not worrying about fuel mileage, safety, and reliability. The health insurance industry is rapidly changing, and people can’t buy a policy and then forget about it.
Not Learning About the Policy Itself
Many consumers don’t understand what the in-network part of their plans cover, or the concept behind a deductible. While health coverage can be confusing, especially where pricing is concerned, not knowing about insurance can lead a person to spend more than necessary. Those with coverage under the ACA are protected against high out-of-network prices, but they should still check with the provider to determine what’s covered.
Not Reporting Changes
This isn’t a common mistake, but the ACA could make it easier to accomplish. Consumers need to report major changes in income. For instance, if a person buys Health Insurance in Austin TX with tax credits and they end up making more than estimated, they may have to pay the amount back when taxes are filed.
Not Asking Questions
According to a recent survey by Colonial Life & Accident, 69% of workers don’t read the fine print before enrolling in an employer-sponsored health plan, and an equal number aren’t sure exactly which benefits are available. Many people fail to call customer service with coverage questions, which can lead to costly mistakes.
Buying More Coverage Than is Needed
A person with health issues may plan to use their benefits frequently, and they may be afraid of surprise bills-;so they buy a policy with a high premium and a low deductible. This is a viable option, but consumers should do the math first, or they’ll end up paying for health services they don’t use.
The ACA has changed the landscape of Health Insurance in Austin TX, and it can be easy to make mistakes. By avoiding the situations listed above, consumers can get the coverage they need from State Farm without spending too much money.
