Are you sure you seriously want lower individual health insurance rates? Then you must commit some time to understand the things you’d have to do to reach your goal. I’ve provided enough suggestions to help the greater majority make savings of more than 50% on insurance…
1. There are established name brands in the pharmaceutical sector. You’ll increase your spend if you buy big brand name drugs. But did you know that all generic drugs are mandated by law to include the same percentage of active agents as brand name drugs? The inactive agents are the only dissimilarities between generic drugs and brand names.
This simply means that what you get from brand name drugs is the same thing you get from generic drugs of similar specification. But take the time to ask a doctor you can truly trust about this before you make your final decision.
2. You’ll attract lower individual health insurance premiums if you make your payments by Electronic Funds Transfer (EFT). This authorizes your insurer to automatically withdraw your premiums from your account at specified intervals. This saves your insurer in many ways including removing the cost of mailing payment notices and the cost of processing checks. Your insurance carrier gives you part of what they save by bringing down your rates.
3. If in your case it’s hard to locate a private health insurance provider because of pre-existing disease you can make use of COBRA insurance. By the way COBRA is the acronym for Consolidated Omnibus Budget Reconciliation Act of 1985.
4. A Flexible Spending Account is helpful in your quest to reduce your spend. This type of account is meant for you to save tax-free dollars mainly for your health needs. You can also roll over any amount you did not use in a year to the subsequent year tax-free. This gives you a tax free way of building considerable reserves of funds to cater for your future health needs.
5. In most cases, your regular medical check ups won’t cost you a dime more because your individual health insurance plan wouuld probably have up to two complimentary medical check ups for you each year.
Why do check-ups bring about savings?
Treating an ailment at its early stage is a lot cheaper than doing so when it is already matured. It is cheaper for your insurer to do this than to treat diseases when they are malignant.