Are you certain you really want more affordable individual health insurance rates? Then you must commit some time to learn the things you’d have to do to achieve your goal. I’ve provided enough ideas to help the greater majority save over 50% on insurance…
1. There are established name brands in the pharmaceutical sector. If you buy such medication, your cost will be more. Just in case you don’t know, the law demands that all drugs must consist of the same active elements irrespective of if they are popular names or generic. Where the differences start and end are in their choice of inactive ingredients.
This simply implies that what you receive in brand name drugs is the same thing you get from generic drugs of similar specification. Nevertheless, make sure you ask a doctor you can really trust about this before you settle for any drug.
2. Electronic Funds Transfer, known as EFT is a painless way to lower your individual health insurance premium. This simply means your insurance provider withdraws your premiums automatically from your account at specified periods without sending you payment notices. This saves your insurer in many ways such as eliminating the cost of mailing payment notices and the expense of processing checks. This is why this attracts lower rates.
3. For individuals who have a pre-existing condition that makes it hard or costlier for them to get private individual health insurance, the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance should provide a more affordable alternative.
4. If you intend to save in health insurance open a Flexible Spending Account. It’s a kind of savings account where you can save tax-free dollars for your health care needs. The interesting thing about this account is that it permits you to carry over the money not used into the subsequent year tax free. This offers you a tax free way of building considerable reserves of funds to cater for your future health needs.
5. Most individual health insurance plans include about two complimentary medical check ups.
In case you would like to know why this results in cheaper rates, here it is…
It it leads to considerable savings because the cost of nipping ailments in their early stages is cheaper than malignant health conditions. You save your health insurance provider by so doing.