Tuesday, September 15, 2009
Affordable Individual Health Insurance -- Be Sure To Study These Savings Tips
Are you positive you seriously want cheaper individual health insurance rates? If your answer is "Yes" you must do everything within your power to learn as many recommendations as there are for cheaper rates. I've provided enough ideas to help the greater majority save up to 50% on insurance...
1. There are medication that are big brand names. You'll increase your spend if you go for big brand name drugs. But did you know that every generic drug has the same active agents as its popular counterpart? Where the differences start and end are in their choice of inactive ingredients.
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, discuss this with your doctor before making this decision.
2. You'll attract lower individual health insurance rates if you pay by Electronic Funds Transfer (EFT). This simply means your insurer takes your premiums automatically from your account each month without sending you payment notices. This reduces costs by removing the need for payment notices or checks. This is why this results in cheaper rates.
3. For individuals who have a longtime ailment that makes it hard or too expensive for them to enjoy private individual health insurance coverage, the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance would provide a cheaper option.
4. A Flexible Spending Account helps you as you look for ways to reduce your spend. It's a type of savings account where you can save tax-free dollars for your health needs. Any money unused could be carried over into the next year (still tax free). With this you can actually build up a substantial amount to meet your medical needs.
5. In the majority of cases, your regular medical check ups won't cost you anything extra since most individual health insurance plans wouuld probably have up to two complimentary medical check ups for you annually.
In case you would like to know why this leads to cheaper rates, here it is...
Since health conditions are diagnosed at their early stages by doing these check ups, they are more easily treated without spending much. This means that your health insurance provider will pay less to treat you if health conditions are spotted early.
Therefore, they give you cheaper individual health insurance rates for helping them save.
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