During job interviews, what should I ask about health insurance?
If you have recently graduated from high school or college and are on your way into the workforce, you've got a lot of important decisions to make — including figuring out your health benefits options — to keep you feeling and looking your best. allaboutthebenefits.com gives you the information you need to make better health benefits choices.
While it might be more exciting to hear about the company's vacation package and other add-ons, you should also keep in mind as you're interviewing that a health benefits package is incredibly valuable. Start with the basics by finding out if the employer offers health benefits to new employees. Generally, health benefits can include:
- medical care (doctor visits, hospitalization, lab tests)
- tax-advantaged savings accounts (FSAs, HSAs, HRAs)
- short- and long-term care and disability coverage
- special discount programs on things like alternative medicine (acupuncture, etc.) and gym memberships
Your employer may also offer:
- prescription coverage
- dental care
Before you accept a job, chat with your prospective employer to understand the value of your benefit options. Here are some questions to ask:
- What kind of health benefits do you offer? You want a package that includes the items listed above, possibly including medical care, tax-advantaged savings accounts, short- and long-term care, disability coverage and special discount programs.
- When does coverage begin? Often your health plan will begin three to six months after your start date, but every employer is different. If your employer has a waiting period, it may also be reduced or eliminated if you currently have coverage.
- How much will health benefits cost me? Health plan fees are paid in installments called premiums. This amount is usually taken directly from your paycheck. In addition to the premium, you will also pay out-of-pocket for a percentage of the cost of medical services, usually in the form of deductibles, co-pays and co-insurance. The Glossary in the Health Benefits Essentials can help make sense of all these terms.
- What restrictions and limitations are there? Many plans have stipulations, such as limiting you to in-network hospitals and doctors. Find out the rules ahead of time.
- Are pre-existing conditions covered? Depending on your medical history, this may or may not be essential for you.
- Do you offer prescription coverage? Prescription drug plans often cover a certain list of approved medications (a formulary) for a co-payment, while others reimburse you for a percentage of your costs after you've paid full price at your own pharmacy.
- Do you cover dental care? This is worth asking, as non-routine dental procedures can be quite expensive.
