We might splurge on comforts and luxuries but when it comes to investing some money on health insurance, we tend to think twice and put it on hold. It’s very important for you to spare some time and make sure your family is properly covered in health insurance. Having a surprise health problem can literally cost you a fortune if you don’t have health insurance and you also get much lower quality of medical care without health insurance.
Here are 6 tips to help you save up to 30% and to make sure you get the most fitting plan:
Choose By Location
Choose the right insurance plan by browsing and doing some research on your State’s insurance website as insurance plans and prices vary widely by state. A good site will list companies available in your area, prices for both individual and family plans, and any lower-cost options your state offers if you meet certain income requirements.
Write out your priorities
If you have a favorite doctor, make sure to choose an insurance company that covers their service. Start to narrow things down by your needs, whether that means low premiums, customer service or the doctor you’re already seeing.
Don’t be afraid to use a broker
It’s wise to approach an insurance broker, he can do the running around for you to help you find a well-suited insurance company, help shop for the best rates, and explain the ins and outs of your plan. It is, however, essential to check the reputation and credentials of the broker.
Ask for a “free look”
A test-drive of your insurance plan is called a free look, and it basically means that you can get your money back if you’re not satisfied within a set period of time. Restrictions vary by company and plan, but you could have anywhere from one to six weeks to ask for a refund — probably in writing.
Consider a Health Savings Account
If you are seeing the doctor just twice a year then HSA is a great option. It goes hand-in-hand with an insurance policy that has a high deductible but low premiums. The money you save on premiums each month can be deposited into the HSA pre-tax, where it grows tax-deferred. You then use it to pay for any unexpected medical expenses. Once you turn 65, you can withdraw any money you didn’t use and spend it on anything you want, including funding your retirement.
We will end up paying more from services that aren’t covered to doctor and hospital co-pays to costs for prescriptions. Keep your costs low by shopping around and asking for generics whenever available. Don’t be afraid to negotiate with your doctor if you’re paying out of pocket. You might get a discount.
Unlike what many think, it is still very possible to get low cost health insurance in the United States. Especially now with the internet, you can get multiple quotes from many companies right away – this helps you negotiate and get lower prices.