Every year we spent a lot of money to be protected in case of illness or disease. And for sure, the most of them are spent to get a health insurance. In these circumstances saving money without losing insurance coverage becomes a serious question. So how can we do it? Let’s look through some tips:
1. Deductible franchise
Deductible is a widespread way to lower health insurance premiums and monthly payments. For sure, in case of insured event you’ll have to pay some medical expenses by yourself, but sometimes it’s really better than having a great medical insurance coverage without using it.
But make sure that buying policy with high deductibles won’t be unfavorable for you. First thing you have to pay attention to is your health stance. If you know for sure that payments out-of-pocket will be higher than difference between policies price – never agree to it.
2. Group health insurance
Using group health insurance can also give a great benefit, especially in case of elderly person. This kind of insurance you can get, for example, for being a member of a professional association or even as a holder of a certain bank credit card. Learn if you can save some of your money on it.
3. Individual health insurance
For young and healthy people group insurance is not the best plan. Buying individual health insurance can help to save much more money. It happens because group insurance plan should be suitable for every member of this group, so it means that you have to pay for someone’s bad health.
4. Children's Health Insurance
If you have college-aged kids it would be a great deal to give them access to your insurance, but it’s possible only if your company’s hospitals or doctors can be visited in the area where college is located. But for sure it’s better to compare costs of campus insurance program and your plan before doing anything.
5. Health savings account
Opening a health savings account can also help you to save a lot of money. Most of the people don’t know it but all the contributions to this account are absolutely tax free and you can spend them for health care anytime you wish.
As you see there are some ways to lower cost of your health insurance without losing its coverage. Every person can find something interesting in the tips given above and decide which of them are suitable and which are not.