If you have not realized this yet, a high deductible health plan can save you a lot of money per month on your health insurance premiums. Your deductible is the amount of money that you pay when you have to file a claim on your health insurance. It can be set at different rates that will subsequently determine what your monthly payments will be. The higher the deductible the lower the premiums will be. There are other things you can do with your insurance plan though to save yourself even more money each month. Here is a look at just a few suggestions you may take into consideration.
One way that you can further save money on your health insurance is by only getting the amount of coverage that you actually need. If you are not at risk for using your health insurance much in the future, just get a minimalistic plan. That will still give you a cushion in case an emergency comes up, but it will save you from having to pay a lot of money each month, you may never get anything out of it. Go over what your current limits are and see if you could lower them to a more logical amount of coverage.
Bundling is another great way to save money on an insurance plan. You can combine your high deductible health plan with other forms of insurance that you need, and then you can save money on each policy you have. Basically you will get a reduced rate for your insurance by bringing in more business for your insurance provider. You could also bundle the health plans for various members of your family and save money that way. Come up with a package deal through your health insurance provider and see what kind of money you could save.
Since your health risks are part of the determining factors for your health insurance premiums, you should work on getting your body in the best shape it can be in. Then you could have your case reevaluated to determine if there are any savings available to you. You may still be paying more than you have to for your high deductible health plan if you have lost weight or gotten a cure for a condition that put you at risk before. If you discuss your different savings options with your health insurance agent, you should get an idea of how much you can reduce your costs each month.
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