These are some of the more common insurance billing issues, and simple things you can do to avoid them.
As soon as you know the date your new insurance will begin, contact your current insurance carrier to request termination of your current policy BEFORE the new policy starts.
Insurance companies will only terminate the policy requested: You may have more than one policy to replace, so be sure to check your bank statement for any related insurance charges that you do not intend to keep.
Whenever possible, ask your medical providers to provide you with a predetermination of benefits (insurance estimate) before you receive treatment.
Prescription drugs change all the time. Check with your doctor to make sure you are taking the most cost-effective medication every time you have a prescription refilled. Compare cash prices here.
Always review the explanation of benefits (EOB) from your insurance company before paying a medical bill. The EOB and the bill should agree with each other.
Does your insurance plan offer wellness incentives? Many will reward you just to stay active.
Use the carriers’ online tools to manage your benefits 24/7
Immediately notify the insurance company of any employees who have a change in employment status with you
Review your bill each and every month to ensure it is accurate
Does your insurance company offer wellness incentives? Some give you premium credits if your employees stay active.
Use the carriers’ online tools to manage your policy 24/7