Are you searching for an affordable health insurance plan that will provide protection for you and your entire family? A health insurance is an absolute necessity with the risk factors involved in our current environment.
We never know when someone in our family could get sick or have an accident. Nothing is in our control. But by at least enrolling in an insurance plan, we can minimize the disastrous effect an illness or a sudden accident can have on us.
If you’ve found that most comprehensive health insurance plans offered by companies are expensive and find it beyond your budget, don’t worry. Comprehensive insurance plans are indeed expensive. But there are ways to make your health insurance rates more affordable.
You see… the reason why these plans are expensive is because they are very generic in nature. They aren’t suited to your own specific needs. Fortunately, many insurance companies allow you to customize your insurance plan in a lot of ways.
In this article, we’ll cover some effective methods using which you can make your health insurance rates more affordable and cut down on your monthly premiums…
1. Coverage For Drugs
You see… many comprehensive insurance plans in the market come with coverage for drugs. In the market, there are actually different types of drugs. Some insurance plans offer cover for branded drugs whereas certain insurance plans only offer cover for generic prescription drugs.
Brand name drugs are drugs manufactured by the high-end companies that you see on T.V. These companies often invest billions in R&D and advertising to market their drugs. Once these companies create a drug, Generic drug manufacturers can copy it after a period of time and sell the drug.
Drugs from both the manufacturers are just the same in composition and are designed to treat the same illness. The only difference is in the cost.
Branded drugs are often five – ten times more expensive when compared to a generic drug. By opting for an insurance plan that offers only cover for generic drugs, you stand to save a lot more money on your health insurance.
2. Doctor visits
Certain health insurance plans also offer cover for doctor visits. Whether you need this coverage or not is entirely up to you. In most cases, you won’t need it.
I mean think about it for a moment. How many times do you visit your doctor in a month or a year? Are you really that sick? In most cases, even if you have a critical illness and are in the recovery phase, you’ll only need to visit your doctor once every three months or so (except for the first few months which you may have to do weekly or monthly).
You’ll save a lot more money if you just directly pay the doctor from your own pocket instead of having the insurance plan cover it. These frequent doctor visits might just be for one year and you may recover completely and will only need to visit the doctor rarely. In such a case, a comprehensive insurance plan that covers doctor visits is useless.
3. Enrolling yourself with your organization’s insurance plan
Another effective way to make your health insurance more affordable is by enrolling yourself in your organization’s health insurance plan. You see… most
employers usually work with a health insurance provider to offer health insurance with discounted premiums to their employees.
The reason for low premiums is because employer’s insurance is a form of group insurance. The insurance companies perceive that group insurances are of a lower risk. When they sign on a massive deal with the employer, they know that they have a lower risk of losing money.
As a result, these companies offer insurance coverage at heavily discounted premiums when compared to individual premiums. The plans are often offered once a year and with a deadline. We recommend that you sign up for such insurance plan. If you’ve missed your deadline, you can choose a short-term insurance plan for now and then switch over.
4. Accident Cover
Most of the health insurance plans offer accident coverage as well. Some form of accident cover is important but it’s not really necessary if you already have a comprehensive vehicle insurance policy taken.
A comprehensive vehicle insurance policy will pay for self-damages as well as third-party damages. So if you’re really looking to cut down on your premiums, you may want to remove accident cover from your options.
Make sure you read about the health reform in the United States. This will help you better understand how health insurance works in America. You can learn more about it on WIKIPEDIA.