Affordable Health Insurance -- Have Your Tried These Other Sure-Fire Ways To Lower Rates?
Affordable health insurance: There are a lot of ways open to anyone who plans to get cheap insurance.
But at the same time, some methods folks adopt in order to cut cost usually make them get less than sufficient coverage.
I don't usually recommend such ways as they defeat the main aim of insurance in the first place.
So, I'll only show you options that will as well leave you well covered despite saving you much.
Here they are...
1.
Just like an HMO, a Preferred Provider Organization (PPO) is normally more affordable than regular health insurance.
But in contrast with an HMO it gives you more choices and understandably it is as well generally more expensive.
Look at your purse and your needs and decide whether this is a better option than other plans.
If cost is the priority, you'll almost always save more by joining a PPO instead of getting normal health insurance.
2.
If you choose to pay your premiums monthly, you will pay higher rates.
You might be sold that monthly payments are convenient but what you're not told is how much extra you pay for this.
If you do transactions with banks you'll agree with me that each check you process is regarded as deal which attracts charges.
While annual payment attracts a single check and therefore one transaction every year, monthly payments attract twelve.
This means that transaction fees would be 12 times more for individual who pay monthly.
There are also administrative costs to your insurance provider that are due to monthly payments.
For instance, it costs some money to mail payment notices monthly.
These and more are then included in your rate thus making it higher than if you paid yearly.
3.
A loyalty discount is another factor that will lower your rate.
A number of insurance providers will give you discounts of about five percent once you stick to them for over 3 years while others will give you discounts for staying up to 5 years.
Maintaining a policy for longer periods will result in bigger discounts.
But in a number of cases it's wiser to leave for another insurance company.
Supposing your premium with your current insurer is $2,500 you'll get a discount of about 5 percent or $125 if you maintain your policy with them for at least 3 years.
But we can almost say with a level of confidence that due to inflation and the high cost of health care your rate might not remain the same.
Within the course of these 3 years you would most likely get an insurer who'll give you comparable coverage or better for less than $2,000.
If this is true about you then you know it is wise for you to go for the more affordable offer right away and not wait for years to become entitled to a discount that won't even save you as much.
You will almost always pay less if you take the time to do extensive shopping since there are hundreds of insurers out there.
In order to know if you are not simply missing out a better deal, obtain and compare quotes from up to five insurance quotes sites.
4.
What amount do you accept to contribute out of your pocket each time you see the doctor? This is referred to as your co-pay.
The higher your co-pay, the cheaper your premium will be.
You're particularly advised to select a high co-pay if you visit a doctor just once in a very long period.
5.
If you are the type that is hardly ever sick you'll make substantial savings by settling for catastrophic health insurance instead.
This kind of policy is useful for you if you suddenly fall ill or are involved in an accident.
You'll really appreciate this policy if you ever need to pay huge bills due to sudden diseases or accidents.
The name certainly does offer a clue of what it provides coverage against.
The premium you pay for catastrophic health insurance is truly inexpensive.
What are normally high are the deductibles which can be as much as $2,000.
But bearing in mind that you are getting coverage from accidents or health conditions that could cost tens of thousands of dollars such deductibles are not quite that high -- Relatively.
But at the same time, some methods folks adopt in order to cut cost usually make them get less than sufficient coverage.
I don't usually recommend such ways as they defeat the main aim of insurance in the first place.
So, I'll only show you options that will as well leave you well covered despite saving you much.
Here they are...
1.
Just like an HMO, a Preferred Provider Organization (PPO) is normally more affordable than regular health insurance.
But in contrast with an HMO it gives you more choices and understandably it is as well generally more expensive.
Look at your purse and your needs and decide whether this is a better option than other plans.
If cost is the priority, you'll almost always save more by joining a PPO instead of getting normal health insurance.
2.
If you choose to pay your premiums monthly, you will pay higher rates.
You might be sold that monthly payments are convenient but what you're not told is how much extra you pay for this.
If you do transactions with banks you'll agree with me that each check you process is regarded as deal which attracts charges.
While annual payment attracts a single check and therefore one transaction every year, monthly payments attract twelve.
This means that transaction fees would be 12 times more for individual who pay monthly.
There are also administrative costs to your insurance provider that are due to monthly payments.
For instance, it costs some money to mail payment notices monthly.
These and more are then included in your rate thus making it higher than if you paid yearly.
3.
A loyalty discount is another factor that will lower your rate.
A number of insurance providers will give you discounts of about five percent once you stick to them for over 3 years while others will give you discounts for staying up to 5 years.
Maintaining a policy for longer periods will result in bigger discounts.
But in a number of cases it's wiser to leave for another insurance company.
Supposing your premium with your current insurer is $2,500 you'll get a discount of about 5 percent or $125 if you maintain your policy with them for at least 3 years.
But we can almost say with a level of confidence that due to inflation and the high cost of health care your rate might not remain the same.
Within the course of these 3 years you would most likely get an insurer who'll give you comparable coverage or better for less than $2,000.
If this is true about you then you know it is wise for you to go for the more affordable offer right away and not wait for years to become entitled to a discount that won't even save you as much.
You will almost always pay less if you take the time to do extensive shopping since there are hundreds of insurers out there.
In order to know if you are not simply missing out a better deal, obtain and compare quotes from up to five insurance quotes sites.
4.
What amount do you accept to contribute out of your pocket each time you see the doctor? This is referred to as your co-pay.
The higher your co-pay, the cheaper your premium will be.
You're particularly advised to select a high co-pay if you visit a doctor just once in a very long period.
5.
If you are the type that is hardly ever sick you'll make substantial savings by settling for catastrophic health insurance instead.
This kind of policy is useful for you if you suddenly fall ill or are involved in an accident.
You'll really appreciate this policy if you ever need to pay huge bills due to sudden diseases or accidents.
The name certainly does offer a clue of what it provides coverage against.
The premium you pay for catastrophic health insurance is truly inexpensive.
What are normally high are the deductibles which can be as much as $2,000.
But bearing in mind that you are getting coverage from accidents or health conditions that could cost tens of thousands of dollars such deductibles are not quite that high -- Relatively.
Source...