Lower Health Insurance Premiums
“How can I get Lower Health Insurance Premiums?” That is the burning question consumers first have when they are shopping for health insurance. Ideally, we would all like to get either the same coverage we currently have or even better coverage in exchange for lower health premiums, but often we find that may not be the case.
There are numerous ways to get lower health insurance premiums; sometimes a comparable or better plan from another insurance carrier can be obtained for less simply because of that carrier’s appetite in your area, age group, or different rating methodology. An easier way to lower health insurance premiums is by considering a high deductible health plan. If you opt for a higher deductible you can get lower premiums because you are incurring more of the risk. Deductible options will vary from one insurance carrier to another but typically range from $250 to $10,000. How these deductibles work, and what medical services are subject to the deductible also vary.
How else can you obtain lower health insurance premiums? Many insurance carriers will give you an option to either limit your doctor visit copayments or omit them entirely. Although this option is not recommended for people who see a doctor frequently, it can be a good way to save hundreds of dollars a year in health insurance premiums. Also, see if you have any optional benefits that you are not using, such as maternity, dental or vision, and remove them if you no longer desire that coverage.
Finally, most insurance carriers are trying to cut their costs and go paperless and will offer lower health insurance premiums in exchange for an automatic payment option such as a monthly bank draft. Insurance carriers are even charging “paper billing charges” for clients who do not take the paperless option. So check to see if automatic payments are an option as it might be your way to achieve lower health insurance premiums.
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