Unpaid medical bills are the reason that nearly 1.5 million homes fall prey to foreclosure every year, according to an article published by Health Matrix: Journal of Law Medicine.

It’s not surprising, considering that inpatient hospital care costs an average of $1,600 per day.

“Often enough, health insurance will not cover all of the related expenses in treating certain diseases,”Polly Galbraith is the medical director of Assurant Employee Benefits, a small-business insurance provider.

It is important to compare insurance options in order to avoid paying more for less coverage. However, there are other ways to maximize your insurance spending.

These are some tips to make the most out of your insurance dollars

* Understand the benefits and tools available at work. Open enrollment at work is coming up soon. Make sure you take a look at all the benefits offered by your employer. You might be eligible for valuable plans that fill gaps in your current coverage, even if the premium is paid only a portion. Many carriers offer calculators that will help you decide which plans are best for you, and what level is appropriate.

* Don’t forget to protect your income. People often forget to consider what they would do if they were unable to work or earn a living. Although serious illnesses and accidents don’t occur often, the consequences can be severe with significant impacts on your health and livelihood. The Council for Disability Awareness is a helpful tool to assess your preparedness in the event that you are injured, sick or have an accident. www.defendyourincome.org.

* Consider supplemental insurance. Your health insurance does not cover many of your daily expenses. When income suddenly drops, unexpected expenses like childcare and transportation costs can catch people by surprise. Although medical insurance covers costs like medicine and doctor visits, it doesn’t cover the daily things that affect your life. In general, supplemental coverages such critical illness, accident, or cancer pay a fixed sum upon an event. You can use this amount for any purpose you choose. “other”Expenses

* Purchase through work for savings and convenience. You can get group insurance rates that are usually more affordable when you purchase coverage through your workplace. Some benefits come with some level or guaranteed coverage. You don’t need to submit any medical evidence. Employers will often collect premiums and send them to you via payroll deduction. You may be eligible for discounted rates if you are a member of labor unions, student associations, or other special-interest groups.

* Take it with you. Consider options that allow you to carry the coverage with you if you have to leave your job.

For more information, please visit www.assurantemployeebenefits.com.