How to Use Major Medical Health Insurance
Major medical health insurance is very attractive to individuals and families that cannot afford or choose not to pay large premiums for general benefits. This plan does have some drawbacks, and one of the main ones is the out of pocket cost from the high deductible that must be paid before the insurance starts. It is important that you know how to use major medical healthcare insurance.
- Contact your major medical health insurance to find out the deductible for your plane. For example, if you have a deductible that is $2,500 per member or $5,000 per family, you would have to spend that amount out of pocket before your health insurance starts paying.
- Build up a savings account incase you have a major medical incident to be able to cover your deductible. With a major medical plan you are automatically offered a Health Savings Account (HSA), so contribute the maximum amount allowed to this account.
- Avoid coverage lapse by paying your monthly or quarterly premiums for your major medical plan on time. Keep your bills current at all times, if possible because having to reestablish health care coverage can be very expensive and it is not always guaranteed.
- Submit all of your doctors and other medical bill to your insurance company. Although, they will not pay the bills (use your HSA or savings to pay your bills), they will be able to keep a record of all of your medical expenses. This will be able to count toward your deductible.
- Stay as healthy as possible by taking care of yourself by eating well, exercise, and try to avoid stress.