New Job? Look For Hidden Health Insurance Discounts

With a new job comes new health benefits, which means navigating a seemingly endless stream of boring insurance paperwork.  By the time you’re done filling out all those forms, chances are you’re ready to do practically anything but think about health insurance, but going the extra mile can pay huge dividends.

Last year, I wrote about the importance of reviewing your health coverage for hidden freebies.  These benefits often aren’t included in your policy’s primary documentation and usually aren’t well-publicized.  However, most health insurance companies offer a variety of extra benefits designed to save you money and keep you healthy (which in the long run, will save your insurance company money as well!).

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Common Hidden Health Insurance Discounts

• Discounted gym memberships – My insurance company will reimburse me for 50% of my monthly gym membership up to a maximum of $25.  While I’m a big proponent of working out at home in my home gym, $25 is $25.  If you’re going to purchase a gym membership anyway, you might as well take advantage of this offer.
• Discounted Lasik – Lasik isn’t covered by my regular vision insurance, but the medical component does have a provision to pay up to 20% of the full cost of the procedure, which could easily amount to several hundred dollars of savings if you opt for the best doctor money can buy (and why wouldn’t you?).
• Discounts on smoking-cessation supplies – I’m not a smoker, but I know things like Nicorette gum and other stop-smoking aids are insanely expensive.  The high cost is worth it in the long run, of course, since a smoke-free life will extend your life by years and save you a bundle in medical and direct expenses, but why not let your insurance company pick up part of the tab if you’ll be quitting anyway?  It’s free money.

These are just a few of the most common discounts you’ll find.  There are plenty more that may or may not apply to your situation.

How Do You Find Out About These Discounts?

Many of these programs have existed for years, you were just never told about them.  I’m not sure why insurance company haven’t been more proactive in educating policy-holders about these benefits since a healthy, active customer is a profitable customer (for the insurance company).  The easiest way to find out about these little money-saving gyms is to ask your HR department for a list of all the fringe benefits that come with your policy (or office building, for that matter).  Alternately, you could scour your insurance company’s website for clues, which is what I did.