Saving on Health Insurance Premiums
Health insurance premiums is the agreed upon fees which is paid for coverage of medical benefits under a health insurance policy. Health insurance premiums can be paid either by the employer or be shared by both the insured individual and sponsor of the health insurance plan.
Nobody, however, would like to pay healthcare premiums more than deserved. Following steps will help you save a good deal of money which you might otherwise find yourself spending on health insurance premiums:
• Before buying any health insurance policies, you must compare quotes form insurers. This will give you an idea on how one plan differs from other and which one is pocket-friendly.
• Once you get the quotes, sleep over it and make sure you vouch for the most affordable health insurance quote.
• Compare benefits of health insurance plans in hand and make a wise choice.
Research well and buy a health insurance policy which covers your requirement. Do not end up making random choices and paying premiums which will make you regret later. Find out if you can avail discounts under some policies.
Getting a competitive quote depends on your health condition. If you are a smoker and have high blood pressure, be prepared to shell out a good amount of money on your health insurance premiums. Moral of the story is that you must quit smoking and control your blood pressure levels.
At times many insurance companies award their members with memberships to gyms, healthcare screenings and health products. Some cover 100% wellness care for routine checkups and immunizations. While many other health insurance companies offer preventive services such as PSA screenings and mammograms. So, find out whichever suits your need and then opt for a health insurance policy.
Avail no claim benefits
Any discounts on claim free years can help you reduce the amount of premium payable at the time of renewal.
Increase Your Out-of-Pocket Costs
This is something which you might not know— if you increase your out-of-pocket expenses in form of co-payments or deductibles the lesser you’ll pay in premiums.
In the end, we’d ask you to make sure that while you choose a less expensive health insurance plan, you also don’t compromise on important benefits which you might need in difficult situations.
Source: Onlymyhealth editorial team Feb 01, 2013
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