Tips To Reduce Your Health Insurance Premium
The cost of health insurance is can be high and California health insurance is no exception. Everybody needs to have a good health plan with a reputable carrier. Yes, I do understand the concern about the high cost of health insurances. It’s necessary to have health insurance and at the same time you should make your plan choice sensibly so that you don’t pay too much for unnecessary coverage. Here are few tips which will help you in reducing the amount of your health insurance premium. Think about the last three or four years and how many times you have visited a doctor. If you haven’t gone to the doctor much and you have a plan with a co-pay, you may not need that particular plan. Having a co-pay included in your health plan cost more money than a plan that has either a limited number of visits with a co-pay or no co-pay at all. Most of us generally enjoy good health except for few times a year when we suffer from some minor health issues. If you’re fairly healthy, you can go for a high deductible health plan and save money. I too followed this advice. Now I am saving a considerable amount on the health insurance premium. I was paying for unnecessary benefits earlier. You can get quotes from more than two or three health insurance companies and judge for yourself based on the quote and the coverage that you get. Many of us are generally healthy, we can avoid inclusion of all the coverage but only opt to go with catastrophic coverage which might be required if you have a big claim. Other benefits like physician’s visit, prescription, etc. can be avoided as these extras raise the premium further. Sometimes group health insurance can be more expensive than if you have an individual family plan. Contrary to popular belief that employers offering health insurance must go with a group policy, they don’t. Group policies are guarantee issue for any eligible employee who wants it. That means that no matter how sick or how many claims are filed, everybody gets accepted. With more claims being filed with group insurance, the insurance carrier must charge higher premiums. Individual plans on the other hand are fully underwritten. The insurance company will only accept healthy people onto the plan. There for less claims and lower premiums. These are just few things which would help us in reducing the health insurance premium. But there might be several of other similar points which when used intelligently would reduce the amount you pay. These are not theories or rules but just things which we learn out of experience. You too can share if you have any useful tip so that others can benefit. Why should we unnecessarily pay the insurance companies when we can we can prudently save on the premium and at the same time enjoy the needed health coverage.
Tags: California Health Insurance, HSA, Medical
