Deciding whether to buy health insurance is a no-brainer. Think of what would happen if you didn’t have insurance and someone in your family suffered a serious illness requiring a long hospital stay or expensive prescription drugs. How quickly would snowballing medical bills wipe you out? And don’t forget that most people now have to pay a penalty if they don’t have coverage.
But the health insurance world has changed significantly over the past few years. Obamacare introduced new rules about what health policies must cover, how and when they’re sold, and who must be accepted (insurers can no longer reject anyone or charge more because of their health). It also limited the amount insurers can charge older policyholders and introduced tax credits to help some people with the premiums. And even people who have coverage through their employer are experiencing many changes -- with higher deductibles, more out-of-pocket costs, less-generous coverage for prescription drugs, and shrinking networks of doctors and hospitals.
It’s important to choose your health insurance carefully and to learn some key strategies for getting the most out of the coverage once you start to use it. Here is some information that can help you save hundreds -- or thousands -- of dollars in health-care costs.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Guide to Picking the Best Health Insurance for 2015
Find out what to look for when choosing the best policy for your family -- whether you have coverage through your employer or are buying a policy on your own.
Buying Health Insurance in the Off Season
Open enrollment for individual health insurance ends on February 15, 2015, but you may be eligible to buy a new policy after that if you’ve experienced certain life changes.
Solutions for 3 Health-Insurance Challenges
Whether you get your policy through your employer or on your own, you’re likely to face higher deductibles, shrinking provider networks, and higher drug costs. Find out how to deal with these changes when you use your policy.
What to Expect From Your Health Insurance
Learn more about how employers are adjusting their health insurance coverage and benefits in 2015 and what you can do to make the most of the changes.
50 Ways to Cut Your Health Care Costs
You’re most likely paying a bigger share of your health-care costs than you did in the past.I Insurers have been raising deductibles and switching from fixed-dollar co-payments to coinsurance, which is based on a percentage of the cost of care. Your out-of-pocket costs could rise significantly unless you follow some key strategies for smarter health care shopping.
FAQs About Health Savings Accounts
If you have a high-deductible health insurance policy – either through your employer or on your own -- you may qualify to contribute to a health savings account, which can give you a tax-free stash of money to use for medical expenses in any year. Find out how to make the most of an HSA.
Sometimes you can get better service, and maybe even save money, if you don’t use your health insurance. Find out about new options that can make it worthwhile to pay cash.
-
Stock Market Today: Dow Dives 1,123 Points After FedMarket participants reacted predictably to a well-telegraphed hawkish turn by the Federal Reserve.
-
Fed Sees Fewer Rate Cuts in 2025: What the Experts Are SayingFederal Reserve The Federal Reserve cut interest rates as expected, but the future path of borrowing costs became more opaque.
-
Will lower mortgage rates bring relief to the housing market?The Kiplinger Letter As mortgage rates slowly come down here's what to expect in the housing market over the next year or so.
-
Car Prices Are Finally Coming DownThe Kiplinger Letter For the first time in years, it may be possible to snag a good deal on a new car.
-
New Graduates Navigate a Challenging Labor MarketThe Kiplinger Letter Things are getting tough for new graduates. Job offers are drying up and the jobless rate is increasing. Are internships the answer?
-
When's the Best Time to Buy a Domestic Flight? The Kiplinger LetterThe Kiplinger Letter A new study by CheapAir.com has crunched the numbers.
-
Woes Continue for Banking Sector: The Kiplinger LetterThe Kiplinger Letter Regional bank stocks were hammered recently after news of New York Community Bank’s big fourth-quarter loss.
-
Anxious Flyers Take Note: The Kiplinger LetterThe Kiplinger Letter Whether it's the routes to avoid that have the most turbulence or the safest airline, we've got you covered.
-
The Auto Industry Outlook for 2024The Kiplinger Letter Here's what to expect in the auto industry this year. If you’re in the market for a car it won’t be quite as daunting as it was during the pandemic and after.
-
Two More Travel Trends for 2024: The Kiplinger LetterThe Kiplinger Letter As the world gets moving again, two more travel trends to consider: Solo cruising and airline passengers with loaded guns.
