There are a lot of ways to pay less on your individual health insurance policy. But at the same time, some methods folks employ in order to cut cost actually make them get less than adequate coverage. I do NOT generally support such options since they defeat the main purpose of insurance in the first place. Therefore, I will only give you tips that will also have you adequately covered in spite of saving you much…
1. People whose professions expose to hazards attract more expensive individual health insurance rates. You can lower your rates if you switch to another occupation that will not expose you to hazards. An individual who works in a nuclear plant can’t get similar rates with a clerk in the local bookshop.
2. How much are you willing to contribute out of your pocket each time you see your doctor? This is known as your co-pay. The higher your co-pay, the cheaper your rates will be. This is highly recommended for individuals who rarely need to visit a doctor.
3. Group plans are cheaper than individual plans. So for persons who have the opportunity to use a group plan, it offers you an the avenue of paying lower rates than otherwise.. The higher a risk your profile is the more you’ll save if you can get health insurance through a group plan.
A group plan will save you a lot if you have a medical condition that makes individual health insurance either too costly or difficult to get. Give a group plan careful thought if you really want cheaper rates.
4. Don’t get shortchanged by the cheapest price as you shop for low cost individual health insurance. You need to focus on getting a low rate that also gives the right value. If the lowest price offers all that is important to you, then choose it. However, if you are asked to pay slightly more for adequate coverage, then pay more.
5. Being more flexible in your choice of health care providers will help you get better quotes. The reason for this is that you may have to limit yourself to doctors and hospitals in a specific network in order to get such low rates. You’d have to stop visiting your favorite doctor if he or she isn’t part of the network.
But while you’re being flexible don’t compromise your health for anything.