How Can I Lower My Health Insurance Costs?

By Robert Fredricks Posted in Health Insurance News

Health insurance is very important, but rising cost of living and health expenses makes it important that families and individuals seek ways to lower what they pay for it. Many people are not even aware that they can reduce their health insurance rates. Here are some tips to help you out.

Review Your Coverage Regularly

You may find that your health insurance costs keep rising as your insurance provider keeps rating you higher. Some insurance companies now offer a fixed rate for at least 2 or 3 years. You do not have to remain with your present provider, shop around for better coverage plans at better rates. After a little comparison, you will be amazed to find that you can end up paying less for a better health plan by switching insurance providers.

Check For Unnecessary Options

Some coverage contains options that you don’t need. For example, a person who does not wear eyeglasses may be paying for a vision plan, or a young person in relatively good health, who rarely visits the doctor could be paying for a coverage that gives unlimited doctor visits. As the above case scenarios show, you can be paying for things you don’t really need. Other options you need to look out for include how much you pay for dental plan and prescription medications.

Deductibles Are Good

By increasing your deductibles you can significantly reduce the costs of health insurance. This is even more so when you have emergency insurance. A high deductible that is within your budget can help reduce your monthly insurance cost significantly.

It cost less to insure the health of non-smokers and people who are not over weight. Health Insurance costs can jack up by 25% for people who are about 20-30 pounds overweight. Smokers may have to pay about 30% more for health coverage. For a better health and fatter wallet, quit smoking and lose weight. When you do, contact your provider for better rates. You can switch providers if they refuse you.

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