There are a lot of ways to pay less on your individual health insurance policy. However, some of them might leave you slightly compromised. I do NOT usually support such options since they rubbish the main purpose of insurance in the first place. Bearing this in mind, I’ll only give you tips that will also leave you adequately covered despite saving you much…
1. People whose vocations expose to hazards get less affordable individual health insurance premiums. Choosing a safe profession will lower your premium by a considerable margin. If your occupation exposes you to toxic substances, for instance, your rates will be much more than that paid by a similar profile who probably works as a receptionist in a shop.
2. What amount do you accept to contribute out of your pocket each time you see your doctor? This is what is called your co-pay in case you don’t know already. Your rate will be less expensive if you choose a higher co-pay. This is seriously recommended for individuals who hardly have to visit a doctor.
3. Group plans are more affordable than individual plans. Take advantage of it if you’re in an institution that offers you the opportunity to use a group plan as it naturally implies that you’ll pay less. This statement is even more so if you’re obese, a smoker or an older person.
You can also make considerable savings with a group plan if you attract very expensive rates because of a health condition. So taking advantage of a group plan is an easy to get quality coverage at a cheap rate.
4. Don’t be carried away by the lowest price as you shop for low cost individual health insurance. You don’t want a cheap quote that does not offer you a good value to price ratio. And, shopping the right way is vital to getting the best rate to value ratio. But in cases where you don’t see the right value in the cheapest rate, you will be making the right choice if you pay more to make sure you truly get the type of coverage that you really need.
5. Deciding to be flexible in the choice of doctors and health care facilities you can use will lead to lower costs. Your favorite health care providers may not members of the network that offers such cheap rates. You may be forced to stop using your favorite doctor if he or she doesn’t belong to that network.
Although you’re advised to be flexible, make sure you also choose what will serve your best interest ultimately.