Friday, September 11, 2009
Affordable Individual Health Insurance -- Make Sure You Study These Tips
Are you sure you really want more affordable individual health insurance rates? If your answer is "Yes" you have to do everything within your power to learn as many steps as there are to cheaper rates. I've provided enough suggestions to help most people save over 50% on insurance...
1. There are medication that are popular. If you buy name brand medicines, your cost will be more. But are you aware that all generic drugs are required by law to have the same percentage of active agents as brand name drugs? The inactive ingredients are the only differences between generic drugs and brand names.
The truth then is that you only spend more when you buy an established brand name drug and do NOT enjoy anything extra in value. Notwithstanding, check this with your doctor before taking this decision.
2. You'll attract cheaper individual health insurance premiums if you pay by Electronic Funds Transfer (EFT). By doing this you authorize your insurance company to automatically withdraw your premiums from your account at specified intervals. This removes administrative overheads like those incurred when sending payment notices. Your rate is therefore lowered in line with the lower cost of giving you insurance.
3. For folks who have a pre-existing condition that makes it difficult or too expensive for them to get private individual health insurance coverage, the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance would offer a more affordable option.
4. A Flexible Spending Account is invaluable as you look for ways to save. You can keep tax-free dollars to cater for your health needs. You can in addition carry over any money you didn't use in one year to the next tax-free. This offers you a tax free way of building considerable reserves of funds for your health needs.
5. In the majority of cases, your regular medical check ups won't cost you a dime more because most individual health insurance plans wouuld probably have up to two free medical check ups for you yearly.
Why does this lead to savings?
It does because the cost of nipping diseases in their early stages is cheaper than treating full blown diseases. And, anything that makes your health insurance provider spend less on you makes your rates more affordable.
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