October 17, 2018

4 TIPS FOR TAKING BETTER ADVANTAGE OF YOUR INSURANCE

Being insured gives us a feeling of security, control and protection even when you haven’t had the need to use the benefits of your insurance.

Our recommendations are for you to get to know the benefits of your insurance and take better advantage. Here are some tips:

·         Know the exclusions and waiting periods of your insurance:

Knowing the waiting periods for health insurance is very important. Waiting periods for pregnancy coverage are very common to find in most health insurance policies.

In general, health insurance providers establish that a 10 month period from the date of obtaining the insurance must pass in order to cover pregnancy medical expenses.

There are illnesses or medical conditions that some insurances do not cover until after a certain amount of time. For preexisting conditions, there may be exclusions. If there was a risk factor or you had a medical condition prior to obtaining the health insurance, coverage benefits for this may be excluded.

·         Understand the deductible:

Understanding deductibles is less complicated than you may think. The same rules for auto insurance applies: The higher the deductible, the lower the cost of the policy. The lower the deductible the higher the cost of the policy.

The deductible is an amount or percentage that you must pay your insurance company in case of illness or an accident aside from your monthly payment. The out of pocket maximum/ limit depends on the type of coverage you request. For medical insurance this depends on factors such as the health care level of hospitals where you can be seen.

·         Take advantage of your health insurance benefits:

Many health insurance providers offer small-scale benefits, such as discounts on labs, dental consultations or services, home visits, or even surgical eye procedures. Know your coverage, and make sure you take advantage of those perks. If you are not sure that they are available to you, ask your provider. You can really take advantage of these benefits.

  • Use the additional assitance services offered by your auto insurance: 

Additional services may include road side assistance or minor repair assistance. If you have trouble on the road contact your provider to see if you qualify for assistance services.

Knowing the details of your policy will help maximize your benefits.
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