The Mid-Ohio Youth Mentoring Comedy Benefit Show Is Next Saturday!

Date: January 25, 2023 Author: Rinehart Insurance

Mid-Ohio Youth Mentoring, formerly known as Big Brothers Big Sisters of North Central Ohio, is a well known local program. They have mentored children, ages 5 through 16, in communities across Mid-Ohio for the last 25 years.

Visiting their website you can see their mission

“Our mission is to provide youth in our community with a mentor that supports, encourages, and provides opportunities, that will help them achieve success in life.”

In order to make their mission successful, they need donations.

One popular event they hold annually is the Mid-Ohio Youth Mentoring Comedy Benefit Show. This year’s show is Saturday February 4th at 6pm. To get your seat, see more details, and purchase your tickets, visit their website: www.midohiyouthmentoring.com

Help us support them by spreading the word.

A COMEDY BENEFIT SHOW!

Featuring the Comedic Stylings of: Larry Reeb

Known as Uncle Larry, Larry Reeb is the wise-cracking black sheep, politically incorrect relative everyone knows. Reeb is a strong, distinct, classic character, with sarcastic attitude and a sardonic wit. He conveys his concepts with rapid fire one liners. “It’s a sick world and I’m a happy guy”, Reeb proudly announces after stating his particularly twisted observations. Whether he’s headlining comedy clubs, colleges or conventions, his wit is universally appealing. Hailing from Chicago, Illinois, Larry has been seen on Showtime, HBO, FOX, A&E, VH1, MTV, PBS, WGN and others.

Also performing: Mark Shalifous

Saturday, February 4^th Doors open 6 pm At the Liederkranz (come early, open seating only, no reserved seating available)

What: Adult comedic humor (guaranteed laughs!!)

When: Saturday, February 4^th, 2023 – Doors open at 6pm, show starts around 7pm

Where: The Liederkranz: 1212 Silver Lane, Mansfield OH 44906

Why: Raise funds to support our mentoring programs in your community

** Tickets will be available for purchase at the door, until sold out. **

Please help us provide the children of our community with positive adult role models by purchasing this ticket and attending the show.

The kids thank you for your support!!

Mid-Ohio Youth Mentoring: ~ every child deserves a mentor

5 Ways To Deal With Unhealthy Coping Mechanisms

Date: January 18, 2023 Author: Rinehart Insurance

When times get tough, it can be instinct to look for a coping mechanism. Coping mechanisms can help people feel like they’re escaping reality by relieving stress or being able to distract their minds. While this is a normal feeling, it becomes a problem when one turns to unhealthy coping mechanisms, which can be harmful in the long run.

This article explores ways to turn unhealthy coping mechanisms into healthier alternatives.

Unhealthy Coping Mechanisms

There are typically four main reasons people turn to unhealthy or destructive behaviors: mental health, stress, isolation and neurobiology. Here are some of the most common unhealthy coping mechanisms:

Oversleeping—Sleep is a common way that people try to escape. While sleep is good for your overall health, too much sleep can inhibit the amount of movement your body needs daily.
Excessive drug or alcohol use—Substance misuse can be a dangerous coping mechanism as it can have serious long-term side effects such as health complications, addiction and death.
Over- or under-eating—Over- or under-eating outside of the recommended guidance can cause health issues. Try to stay within the recommended daily intake guidance.
Impulsive retail spending—Excessive shopping can lead to financial problems. Making small purchases over time can also lead to hoarding or family problems.

Alternatives to Unhealthy Coping Mechanisms

It’s normal to have feelings of wanting to escape from reality due to stress or anxiety. Healthy coping mechanisms can help address stress and anxieties in a positive way—and also develop into long-lasting habits.

Check out these healthier alternatives for coping with stress or other unpleasant emotions:

Create task lists. Unhealthy coping mechanisms can prevent you from reaching your short- and long-term goals. Making a task list of personal goals can help you achieve the things you want and elevate your mood by physically seeing your accomplishments when they’re checked off the list.
Talk about stress. Find someone willing to listen to you, such as a close friend, family member or mental health professional. Putting your feelings into words can help alleviate stress and feelings.
Address negative feelings. Negativity is a normal part of life. Trying to avoid it is called avoidance behavior, which can result in reaching for unhealthy coping mechanisms.
Learn your triggers. Knowing what you negatively respond to can help help you keep track of and be aware of how you react.
Pick up a new hobby. For example, outlets such as painting or picking up running can be therapeutic. Incorporate a frequent time and space to practice your new hobby.

Practice Healthy Coping Mechanisms

Having negative or overwhelming emotions is normal. It’s important to consider using healthy coping mechanisms to help deal with stress. If you have an ongoing emotional problem, talk to your doctor or a mental health professional.

Why Dental Benefits Are Crucial for Your Overall Well-being

Date: January 11, 2023 Author: Rinehart Insurance

Selecting and utilizing dental benefits is crucial because the condition of your teeth and gums significantly impacts your overall health. Proper oral health care can help prevent oral infections, tooth decay, gum disease, and other conditions. Not only does good oral health support your teeth and gums, but your overall health and well-being.

Here are some of the ways dental hygiene can affect your overall health:

Help cardiovascular health. Gum disease increases inflammation in the body, including within the soft tissues of the heart. Plaque and bacteria enter the body through the gums and can clog arteries and increase your risk of a severe heart attack or stroke.
Decrease the risk of experiencing dementia. Poor dental hygiene can cause you to suffer from tooth decay and even tooth loss. Substances entering your body through your gums can negatively impact your brain’s functions. In turn, there is a higher potential for memory loss which can develop into dementia.
Improve respiratory conditions. Bacteria can travel from your mouth to the bloodstream and into your lungs, directly impacting your respiratory system. Good oral hygiene can help prevent unwanted bacteria from traveling further into your body.
Lower the risk of diabetes. People with gum disease are more prone to developing diabetes. The reverse is also true; those with diabetes are more prone to gum disease. If you already have diabetes, it’s vital to maintain good oral hygiene for prevention, as you’re more likely to contract certain infections when you have diabetes.
Prevent some infertility risks. Gum disease can cause infertility issues such as premature birth and low birth weight. Maintaining good oral hygiene can help increase your odds of a normal pregnancy.

How to Practice Good Oral Hygiene

It’s important to practice oral hygiene for your overall health and well-being. Here are a few tips to help prevent periodontal diseases and health issues:

Brush your teeth daily. Brushing your teeth at least twice daily can help clean your teeth and gums of bacteria and food debris within your mouth.
Schedule regular dental appointments. Have your teeth cleaned at least once a year in order to maintain good oral hygiene.
Change your toothbrush every couple of months. You use your toothbrush every day. Changing your toothbrush every couple of months helps minimize the amount of bacteria on the toothbrush, preventing it from being transferred to your mouth.
Eat firm, whole foods. Firm foods can also help clean your teeth as you eat. Consider foods such as carrots, apples and celery in your diet.

Learn More About Oral Hygiene

Good oral hygiene needs to be a top priority to maintain good overall health status. A healthy mouth is often a sign of a healthy body.

Do you need to learn more about dental benefits or dental insurance? Contact us today.

Understanding The Effects Of Deep Sleep And Tips For Improving It

Date: January 4, 2023 Author: Rinehart Insurance

Sleep is crucial for your overall health and well-being. There are generally considered to be four sleep stages—awake, light, deep and REM sleep. Deep sleep is the key repair and restorative stage of sleep, and it’s necessary to feel your best each day.

Learn what deep sleep is and how to improve it for overall well-being.

Deep Sleep Explained

Deep sleep occurs during the third stage of the sleep cycle, according to Healthline. During deep sleep, electrical activity in the brain appears as delta waves, which can be classified as long, slow waves. Deep sleep typically occurs within an hour of falling asleep and occurs in shorter periods as the night progresses.

Deep sleep is categorized in the body by slow breathing and heart rate function, as well as relaxed muscles. It can be challenging to be woken up during this stage of sleep, and when woken, it’s typical to feel groggy for an hour or so after.

The Importance of Deep Sleep

Deep sleep has a significant impact on overall health and well-being. According to WebMD, this is due to your body releasing a growth hormone to build and repair muscles, bones and tissues and help the immune system function. Deep sleep also aids cognitive function and memory and impacts language learning, motor skills and brain development.

A lack of deep sleep may cause issues with learning or remembering information. You are also more prone to getting sick due to weakened immune system function. Some signs you may not be getting enough deep sleep may include:

Feeling unrefreshed and drowsy
Experiencing reduced alertness and attention
Having trouble learning and forming new memories
Craving high-calorie food

Improving Deep Sleep

Finding ways to improve your sleeping patterns is a good place to start if you believe you’re not getting enough deep sleep each night. Try some of these tips for achieving deep sleep:

Establish a regular sleep schedule.
Reduce caffeine intake in the afternoon and evening.
Exercise regularly.
Ensure your sleep environment is quiet, dark and cool.
Create a bedtime routine that relaxes you and prepares you for sleep.
Take a warm bath to help induce deep sleep before bed.
Listen to binaural beats that can help induce delta waves for deep sleep.

Improving deep sleep patterns takes time and practice. If you’re struggling with your sleep, it could be beneficial to seek medical guidance from your physician.

CONCLUSION

Knowing what deep sleep is, its importance for your overall health and how to improve your sleeping habits can positively impact your health.

For more information on improving your sleep or general sleeping patterns, seek professional guidance.

A New Year’s Resolution For A New You

Date: December 28, 2022 Author: Rinehart Insurance

Many people choose the new year to make changes in their financial and personal lifestyle. Whether you want to save more money, get out of debt, loose weight or start a healthier lifestyle; the start of a new year with a new year’s resolution is the way to go for many. We have some tips that will help you begin this new year off strong.

A new year’s resolution for financial stability

Financial stability starts with reviewing your current financial resources. This is important because your current finances affect your ability to reach your goals and protect those goals from potential financial crisis. These are the resources you will draw on to meet various life events. To start, calculate your net worth – this isn’t as difficult as it might sound. Your net worth is simply the total value of what you own; your assets, minus what you owe; your liabilities. This gives you a snapshot of your financial health.

First, add up the value of all your assets. This includes personal possessions, vehicles, homes, checking and savings accounts, and the cash value (not the death benefit) of any life policies you have. Include the current value of investments, such as stocks, real estate, certificates of deposit, retirement accounts, IRAs and the current value of any pensions you have.

Now add up your liabilities: the remaining mortgage on your home, credit card debt, student and personal loans, taxes due on the profits of your investments if you cashed them in, and any other outstanding bills. Subtract your liabilities from you assets. Do you have more assets that liabilities? Or more liabilities than assets? According to Forbes Magazine “If you have $10 and no debt, you are richer than 15% of American Households put together.”

Your goal is to create a positive net worth, and to have it grow each year. Review this number yearly to monitor your progress. Make a monthly budget to help keep yourself accountable for your spending. Websites like Mint.com help you keep track of your income, expenses and net worth on a daily basis.

A new year’s resolution for a healthier you

There are numerous ways to create a healthier you. Healthy portion sizes and making time for fitness are two common ways to accomplish that goal.

Healthy Portion Sizes

A serving of meat is about two or three ounces – about the size of a deck of cards, or the palm of your hand.
One serving of grains is equal to one slice of bread, one ounce of cereal, or 1/2 cup of pasta or rice.
A serving of fruit or vegetables is equal to one piece of fresh fruit or vegetable, 1/2 cup chopped, or 3/4 cup of fruit or vegetable juice. In general, it’s not as necessary to be vigilant about vegetable and fruit intake, as any amount is healthy – just make sure you’re getting enough while being aware of the sugar content in fruit.
The key to any meal is to have 75% of your plate covered with vegetables and 25% covered with meat or pasta.

Make Time For Fitness

Park your car far away, and walk farther to your destination.
Participate in a charity run, walk or bike event.
Take the stairs instead of the elevator or escalator.
Squeeze a stress ball while at work to relieve tension. burn calories, increase flexibility, and improve blood flow.
Exercise during your lunch hour, even if it’s just a walk around the block or up and down a flight of stairs.

Getting even 20 to 30 minutes of exercise per day will improve your health. It will also make you feel better overall and can be fun.

Set yourself up for a successful new year

In conclusion, the point of a new year’s resolution is to make changes in your life. Make sure to set reasonable goals and don’t set unrealistic expectations. You don’t want to start off the new year with a goal that is impossible to reach. There are numerous resources available online and as an app that can help you along the way. Budget websites and apps, workout videos and apps, even calorie counters are easily accessible and will help you along the way.

Most of all, stick with your goals and you are on the right track to a new you!

How To Prevent Fires When Using Space Heaters

Date: December 21, 2022 Author: Rinehart Insurance

“The weather outside if frightful, but the fire is so delightful”…well not all of us have a fire place, but a space heater will make due. Supplemental heating, such as space heaters, is the leading cause of house fires from December through February. They are the second leading cause of home fires year-round.

Space Heaters – Did You Know?

According to the National Fire Protection Association, supplemental heating equipment is the leading cause of home fires from December through February, and the second leading cause of home fires year-round. Keep the following safety precautions in mind when using such equipment, like space heaters.

How Can You Keep Your Home Warm And Safe?

To help avoid a home fire, and a homeowners insurance claim, keep these safety tips in mind this winter:

Do not use space heaters to warm bedding, cook food, thaw pipes or dry clothing. These tasks can present major fire and burn risks.
Only use space heaters with the Underwriters Laboratories (UL) safety mark. The UL signifies that the produce was tested for potential safety hazards.
Purchase units with automatic shut-off features and heating element guards.
Keep sources of fire at least 3 feet away from heater, including drapery, clothing or bedding.
Turn off space heater when leaving the room to prevent burn injuries.
Periodically check for frayed insulation, broken wires and overheating. Have your space heater serviced immediately if you notice any of these problems.
Use only fuel recommended by the manufactures for liquid-fueled space heaters.
Avoid using extension cords. If you must do so, make sure that the cord is the right gauge size and type for the heater.
Avoid placing space heaters in high-traffic areas of your home. Units with long cords can present a tripping hazard.

Following the above safety precautions can help you have a warm, safe winter. After all, you families comfort and safety are surely a top priority.

At Rinehart Insurance we do more than help you prevent claims. Call us today to discuss all of your insurance needs.

What You Need To Know About A Health Savings Account

Date: December 7, 2022 Author: Rinehart Insurance

If your employer offers health benefits, there is a chance they offer a Health Savings Account compatible plan. You may be familiar with those type of plans, or it may sound like a different language. Don’t fret if you don’t understand. That’s where we come in. Below is a basic breakdown of an HSA.

What is a Health Savings Account?

Also known as a HSA, a Health Savings Account is a savings account that you can use to pay for medial related expenses. It can be funded by tax-exempt dollars by your employer, by yourself or by anyone else on your behalf. The funds in the HSA account can help pay for eligible medical expenses not covered by an insurance plan. This can include copays, deductible, coinsurance and prescriptions.

Who is eligible for a Health Savings Account?

In order to open and contribute to a HSA plan there are a few stipulations. You are eligible if you are:

• Covered by a high deductible health plan (HDHP)
• Not covered under another medical plan that is not an HDHP
• Not entitled to (eligible for AND enrolled in) Medicare benefits
• Not eligible to be claimed on another person’s tax return

What is a HDHP?

A high deductible health plan is a plan with a minimum annual deductible and a maximum out-of-pocket limit that is set by the IRS. These limits change annually but for 2021 the limits are as follows:

Type of Coverage Minimum Annual Deductible Maximum Annual Out-of-pocket
Individual $1,500 for 2023 $7,500 for 2023
Family $3,000 for 2023 $15,000 for 2023

So how does it work?

Your high deductible health plan does not provide co-pays when you visit a Dr or pharmacy. That leaves you to pay the total expense of the visit or the prescription. Your claims will still be ran through your insurance company and most will be re-priced at the negotiated price from your insurance company. You can then use the funds in your HSA account to pay for those expenses. Most HSA accounts will offer checks or debit cards to make paying bills easy. The important thing is to make sure you are using those funds for qualified medical expenses. If you use the money for non medical expenses you will be subject to additional taxes and penalties.
Click here to learn how your HSA works with Retirement.

HSA Contributions

You can make a contribution to your HSA each year that you are eligible. You can contribute no more than:

• Single coverage: $3,850 for 2023
• Family coverage: $7,750 for 2023
Individuals ages 55 and older can also make additional “catch-up” contributions of up to $1,000 annually.

A few more things.

Unlike other accounts, a HSA is not one that you have to use or loose by the end of the year. You can contribute money into this account and not touch it for years. It will just stay in the account until you need it. The IRS also puts yearly caps on how much you can contribute each year into your HSA. You can click here to learn more.

If you have additional questions, we are are happy to help!

4 Tips For Preventing Burnout During The 2022 Holiday Season

Date: November 30, 2022 Author: Rinehart Insurance

According to Microsoft research, nearly half of employees have reported that they are burnt out at work. The World Health Organization defines burnout as a syndrome resulting from workplace stress that has not been adequately managed. Everyday life is hectic enough without the added stress of the holidays. The season’s challenges include attending celebrations, coordinating gift-giving, planning finances and balancing various family obligations. It’s no wonder that burnout can feel unbearable during this time of the year.

Even though levels of burnout are high, there are ways to help avoid burnout and manage it so you can enjoy your holiday season. This article highlights tips to help prevent burnout during the 2022 holiday season.

1 Set Realistic Expectations

It’s impossible to do everything. When the holidays hit, there are a lot of moving pieces to consider for a successful holiday season. Setting realistic expectations is crucial, so you don’t overcommit to tasks.

One easy switch is to send holiday e-cards versus sending physical cards. This can help you connect with loved ones while saving time putting together envelopes and postage. Other ways to help keep tasks realistic during the holidays are to break down goals into digestible tasks, set timelines and reward yourself for checking items off your to-do list. No matter what your holiday to-do list looks like, it’s essential to keep it realistic.

2 Start Early

No matter your holiday plans, spreading out your tasks and starting early will help with stress levels. This is due to not waiting until the last minute to complete tasks and rushing through responsibilities. Consider the following ways to prepare ahead of time:

Send digital invitations for parties or hosted events at least two weeks in advance.
Make necessary purchases a few weeks in advance.
Decorate a few days before any hosted events.
Arrange food plans, such as who’s bringing certain dishes to share at least one week in advance.

Planning ahead and starting early on tasks will help prevent last-minute stressors.

3 Take Time to Recharge

It’s essential to make time for activities that refuel you, such as reading, spending time with friends and going on outdoor walks. Recharging can help alleviate burnout. By taking time for yourself, you are creating a balanced schedule by focusing on more than just work and the holidays.

4 Maintain Boundaries

It’s important to set boundaries between the time you can take to do things and the time you need to rest. To maintain healthy boundaries, you can start by avoiding overcommitment by scaling back on tasks and having a firm end time for parties. Boundaries protect your emotions and your physical space. They can be a healthy strategy as you navigate the holiday season and a full calendar. For example, you could say “no” to an all-day gift exchange, but make time to stop by for a couple of hours to see loved ones. Don’t feel guilty about scaling back and setting time limits. The less stress you have to endure, the more fun the overall experience will be.

Conclusion

Burnout during the holiday season is common, but you don’t have to suffer. You can manage burnout by setting realistic expectations, starting early on holiday tasks, taking time to recharge and maintaining boundaries.

If you experience burnout during the 2022 holiday season and these tips aren’t helping, reach out to a doctor or mental health professional.

6 Recession-proofing Strategies for Small Businesses and Their HR Teams

Date: November 16, 2022 Author: Rinehart Insurance

A recession is a prolonged and pervasive reduction in economic activity. Generally speaking, multiple successive quarters of negative growth in gross domestic product—a monetary calculation of the market value of goods and services generated and sold during a set time period within a given country—constitute a recession.

A recession can last for several months or years. Furthermore, recovering from this state to the nation’s previous economic peak can take years, even after a recession ends. Because a recession typically results in diminished economic output, lowered consumer demand and a drop in employment, such a downturn can present various challenges for organizations across industry lines—especially small businesses.

Although a recession can’t be prevented, the strategies that HR teams implement can greatly impact whether their organizations withstand such a downturn. Specifically, HR teams can ensure their organizations are sufficiently prepared for a recession by taking steps to limit related ramifications and maintain financial stability. This article outlines how a recession impacts small businesses and explores what HR teams can do to adequately prepare their organizations for an economic downturn. We have 6 recession-proofing strategies to share with you.

How a Recession Impacts Small Businesses

Amid a recession, organizations of all sizes and sectors usually experience decreased sales and profits stemming from changing consumer behaviors. An economic downturn may also limit organizations’ credit capabilities and reduce their overall cash flow as customers take more time to pay for products and services.

While these behaviors can threaten the financial stability of any organization, large businesses are often better positioned to weather a recession because of their substantial revenues, excess reserves and privileged access to a wider range of credit markets. Small businesses, on the other hand, may be particularly vulnerable during an economic downturn, as they generally lack the additional capital necessary to offset extended periods of loss. As a result, when a recession occurs, small businesses are more likely to have to make difficult financial decisions to avoid issues such as insolvency or bankruptcy.

Financial media website Investopedia reported that nearly 1.8 million small businesses closed their doors amid the last major U.S. economic downturn, known as the Great Recession, which took place between 2007 and 2009. Looking ahead, a recent survey conducted by investment banking company Goldman Sachs found that the vast majority (93%) of small businesses fear the nation will enter another recession in the coming months. With this in mind, now is the time for HR teams to help prepare their organizations for an economic downturn.

Tips to Prepare for a Recession

To promote financial stability among their organizations during an economic downturn, HR teams should consider the following recession-proofing strategies:

Revisit compensation and benefits strategies. Many employers have responded to recent labor challenges by increasing workers’ salaries, providing substantial bonuses and expanding employee benefits and perks. However, with the possibility of a recession on the horizon, HR teams may need to rethink how their organizations will address attraction and retention struggles. This may involve curtailing salary increases and reducing employee benefits. After all, recession-proof organizations tend to develop their budgets with an eye toward the future, thus requiring HR teams to revisit compensation and benefits strategies.
Automate internal processes. The more efficient organizations are, the more resilient they will likely be during a recession. In particular, recession-proof organizations tend to stay one step ahead by optimizing their resources and automating where possible. As such, HR teams can improve organizational productivity by automating processes and implementing new technologies. This may entail automating recruiting, onboarding and payroll operations to bolster efficiency.
Try to minimize layoffs. When organizations’ financial capabilities become uncertain, their immediate plans may be to reduce costs through layoffs. However, layoffs should only be considered a last resort, seeing as they can create additional risks (e.g., legal liabilities, lower morale and employee distrust) and negatively impact business operations by decreasing productivity and proficiency. Instead, HR teams may be able to minimize the need for layoffs within their organizations by implementing voluntary reduction-in-force programs or choosing to slow hiring or pause it entirely.
Stay transparent. The possibility of a recession can bring uncertainty. Employees will likely be concerned about their futures, the long-term viability of their respective organizations and how their work processes may change. With this in mind, HR teams need to find ways to keep employees informed without fostering their worries. Creating transparent workplace cultures can help organizations limit recession-related ramifications.
Prioritize employee engagement. Employee engagement can be vital leading up to and during a recession. During periods of economic uncertainty, employees are likely to feel stressed. If organizations are forced to lay off employees, the remaining employees could be asked to shoulder additional responsibilities and greater workloads. As a result, these employees may feel overworked and worried about their futures. According to industry experts, highly engaged employees can help limit recession-related labor challenges among organizations, as they are more likely to accept negative work changes and remain loyal. HR teams can increase employee engagement within their organizations by meeting with employees, listening to them and addressing their concerns. By increasing employee engagement during difficult times, HR teams can help maintain staff morale and productivity.
Manage health care costs. As their health care budgets shrink during a recession, searching for cost-effective solutions can allow organizations to maintain affordable benefits for employees. Implementing effective strategies to manage health care expenses (e.g., reevaluating plan designs and offerings, directing staff to cost-effective services and improving employee health care literacy) can help HR teams keep their organizations’ reduced benefits budgets intact without sacrificing employees’ needs.

Conclusion

A recession can have serious impacts on small businesses. Fortunately, by properly preparing for an economic downturn, HR teams can help their organizations be better positioned to minimize financial hardships. It is important to have recession-proofing strategies in place.

For more resources, contact Rinehart, Walters & Danner Insurance Agency today.

6 Common Mistakes to Avoid When Choosing a Health Insurance Plan

Date: November 9, 2022 Author: Rinehart Insurance

Health insurance may be one of the most critical annual purchases since it impacts your physical, mental and financial wellness. Unfortunately, selecting a health insurance plan can feel overwhelming. With so many options, it can also be easy to make a mistake when selecting coverage.

This article explores six common missteps related to selecting a health insurance plan. Once armed with this information, it’ll be easier to avoid these mistakes and choose the best plan coverage for your situation.

1) Rushing Through Enrollment Options

Many people rush when buying their health insurance or only rely on recommendations from friends, family and co-workers. Others may simply reenroll with last year’s choices. But health insurance provides personal coverage, so it’s important to research and find what will work best for your health needs and budget.

When it comes time to enroll in a plan, compare different policies and understand their coverages and associated costs (e.g., premiums). One of the best ways to ensure the policy is right for your health needs is to consider your medical requirements and spending in the next year. Don’t forget to confirm in-network coverage to ensure your preferred doctor, clinic and pharmacy are connected in the new plan. Then, you can find the most suitable plan and coverage in an effort to simplify your health care and make it more affordable.

2) Overlooking Policy Documents

Another common mistake is skipping through or not thoroughly reading the policy’s terms and conditions. However, carefully reading a policy is the best way to know what to expect from the health plan and what the plan expects of you.

As such, read the fine print on each plan you consider before enrollment. Reviewing the policy’s inclusions and exclusions will help you make an informed decision and potentially avoid surprise bills later on.

3) Misunderstanding Costs

A cost-sharing charge is an amount you must pay for a medical item or service covered by the health insurance plan. Plans typically have a deductible, copays and coinsurance. Here’s what those terms mean:

The deductible is the amount you pay out of pocket before your health insurance starts to cover costs.
A copay is a flat fee you pay upfront for doctor visits, prescriptions and other health care services.
Coinsurance is the percentage you pay for covered health services after you’ve met your deductible.

When shopping for a plan, keep in mind that the deductible is tied to the premium. As such, a low deductible plan may seem attractive, but understand that it generally comes with a higher premium—and vice versa. Consider keeping your deductible to no more than 5% of your gross annual income. When shopping for a plan, look closely to see when you’ll have a copay and how much it will cost for various services.

4) Concealing Your Medical History

It may be tempting to avoid sharing your medical history if you’re worried about being rejected or receiving higher premiums. However, it could hurt you in the long run when insurance claims are denied for existing conditions or undisclosed medical information.

5) Ignoring Add-ons

Health insurance add-ons are often included separately and require an additional premium, which means many people don’t look at them. A standard health insurance plan may not cover certain situations, so reviewing all available options is essential. An insurance add-on could help bolster your overall health insurance coverage by offering extra protection.

Review the add-on covers offered with your health insurance policy and see if any would be helpful for you, your family or plans in the next year. For example, some common add-ons include critical illness insurance, maternity and newborn baby insurance, hospital daily expenses and emergency ambulance services.

6) Selecting Insufficient Coverage

People may hold back on purchasing certain coverage to pay a lower premium. While that may seem advantageous in the short term, you’ll be on the hook for out-of-pocket costs when facing a medical emergency. This mistake may be accompanied by physical, mental and financial health consequences.

When selecting a plan, check that the policy provides adequate coverage for your medical needs and other essentials. The right health insurance can take care of yourself and ensure financial security.

Summary

Health insurance is an essential investment for you and your family. By avoiding common mistakes while buying health insurance, you’ll be better informed to enroll in a plan and other coverages.

As health care costs continue to rise, it’s more important than ever to carefully review available policies, consider your options and health needs, and, ultimately, select the best plan to protect your health and finances.