Not Shopping Around

• Many find reviewing health insurance options time consuming and confusing, so it is natural to want to take the first option that sounds affordable and enroll. There are dozens of health insurance carriers and each wants your valuable business. As a consumer, you have the ability to compare various plan offerings and choose the one best for you. While it is not suggested to take the cheapest policy to save money, you can often find competing policies offering the same coverage at lower prices. If you are insured through your employer, you may find there are several plan options available. Review each plan to evaluate benefits and costs.
  
  

Getting Incorrect Coverage

• Understanding your overall health needs and financial situation are critical to choosing the correct policy. Some go way overboard on coverage because they are unwilling to pay a $25 doctor's office co-payment or $25 prescription drug charge. If you have the means to pay for your doctor's visit or certain prescription drugs out of pocket, you can perhaps opt for coverage at a significantly lower monthly premium. Conversely, just having the cheapest insurance option is not suggested. If you skimp on coverage, you may end up paying a significant portion out of pocket or incurring heavy debt.
  
  

Failing to Verify Details

• Health insurance is confusing for some, and not understanding the details can get expensive and cause considerable frustration. It may be tempting to sign up for your office policy, but you may find your long-time family doctor does not accept that insurance. Some coverage does not kick in until you have spent a certain amount out of pocket. Speak with an advisor about your health needs and your expectations to ensure you understand the policy you are signing up for does not ever leave you blindsided.
  
  

Avoiding the Doctor's Office

• Many sign up for health insurance, never having set foot in a doctor's office. Obviously, you want your insurance to cover the visit, but avoiding the doctor's office may preclude you from making the best health insurance choice. If you just had a recent checkup, you should know many things about your health needs. If your numbers were strong and you are relatively healthy, you may be eligible for discounts or rebates on your premiums. Having a better understanding about your current health situation will also help you choose the best available policy.