Your Company Health Insurance and You
How familiar are you with your company supplied health insurance plan? Are you fully familiar and are utilizing all the benefits provided to you? While you know that it is available to you for doctor visits and the occasional (I hope very occasional) hospital visit, are you familiar with the other benefits your plan may afford you?
Almost all plans allow for “wellness exams.” The insurance companies have finally figured out a healthy insured is much more cost effective than a sick insured, so most plans allow for an annual check-up. When was the last time you had a doctor’s visit when you weren’t sick? Take a look in the mirror or check you drivers license to determine your age (hey…I know you really know) and make sure you get a check up that is age appropriate. Mammogram, colostomy, and PSA are not dirty words until you hear the word positive after it and in the same sentence.
Dental Coverage affords the same as doctor’s coverage. Most allow for annual or semi-annual check-up and cleaning. Healthy teeth are happy teeth…if you have a check up regularly, those nasty cavities may not have time to fester and cause you great pain. Besides, everybody loves a dazzling smile.
Vision coverage is not included in all plans, but some employers choose to add it into the plan. Like the above, it will allow for periodic check ups as well as an allowance for spectacles or contacts. While you may love dogs, you don’t want one to replace your sight. Remember that the eye doctor will check you for ophthalmic disease, so check ups and preventative visits can help to avoid a problem that you may not even be aware of.
Disability insurance is a coverage that provides income if you are unable to work due to illness or accident. Check with your HR person to see if your company provided this as part of your insurance package. Disability insurance may be short term or long term- get the specifics. If you don’t have this coverage, I suggest you speak with your financial planner or insurance agent to explore a personally owned policy.
Long term care insurance is coverage that will provide a supplement to pay for nursing home care, at home care, as well as many other arrangements. While this is usually employee paid, check it out. If you plan does not provide for this, again, see your financial planner or insurance agent and talk about it. We discuss this very real need with all of our clients over 50- this provides for a greatly reduced annual premium at the younger age vs. waiting until the mid 60’s, which will still be low once you retire and hypothetically your income will be reduced.
So check it out- you’ve got nothing to lose but your good health…