Health Insurance

How to choose and use health insurance is one of the biggest financial decisions Americans face. Browse Investopedia’s expert-written library to learn more.

Frequently Asked Questions
  • What if my doctor doesn’t accept Medicare?

    You can cover the costs out of pocket, but this is usually unaffordable for most people. Instead, try asking your doctor for a referral to another healthcare provider that does accept Medicare, do your own research, or visit an urgent care facility. Most urgent care offices accept Medicare.

  • Is there a way to appeal an insurance denial?

    Yes, you may appeal an insurers' denial of your claim. Typically, your insurer will expect you to work with your physician's office to provide justification for the need for the treatment, drug, or device, and it still may not be approved. You may appeal beyond your health insurance company with the state insurance commissioner.

  • How do I avoid the late enrollment penalty for Medicare Part D?

    Try to sign up during the enrollment period: three months before you turn 65 through the three months after your birthday. Next, if you lose other drug coverage, make sure to sign up for Part D within 63 days. Last, make sure you have proof of credible drug coverage in your records so you can prove you do not deserve a penalty.

  • Can you use FSA funds to pay for a gym membership or exercise classes?

    The Internal Revenue Service (IRS) typically does not allow FSA funds to pay for health club or gym membership dues. However, the IRS allows FSA funds to be used to pay separate fees charged at health clinics or physical therapy centers for specific activities when prescribed by a doctor.

  • Are any medical costs tax-deductible?

    Yes. Tax-deductible medical costs include payments to doctors, dentists, surgeons, inpatient hospital care, acupuncture treatments, participation in weight-loss programs, and more. The Internal Revenue Service has a list of examples of deductible medical expenses on its website.

  • What do vision care plans cover?

    Most vision care plans provide discounts on laser eye-correction surgery. Vision care plans have different offerings—some offer minimal services; others may help cover treatments for eye surgery.

Key Terms

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