These are some of the more common insurance billing issues, and simple things you can do to avoid them.
Individuals:
- 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
Employers:
- 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