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How to Save Up to 70% on Health Insurance Premiums
By: Ryan Orrell
Are you tired of paying too much for health
insurance premiums? Only 5 or 6 years ago health insurance seemed
very affordable with fantastic coverage to match. Well, if you’re
an individual or family who pays for health insurance today chances
are you’re literally getting punched in the pocket book, and
it hurts.
Dramatically health insurance has changed
over the last five years and this article will no doubt arm you
with the knowledge you need to get the most out of your next health
insurance plan. First, an individual or family needs to identify
with what they need out of a health plan. Notice I say need, because
unless you make more money than you know what to do with there is
no way in the world most people can afford the "Perfect"
plan with all the bells and whistles.
Do you need a doctors office co pay?
Most people don’t realize this will
save you up to 30% with some companies by cutting this benefit out
of your health insurance plan.
Doctors continually raise their fees for visits and most of the
time the consumer will go much faster to the doctor if he or she
has a $10 co pay as opposed to paying the $50 the doctor may charge.
Insurance companies pay millions for these fees and trust me, after
the first 12 months of your plan being in effect you’re the
one who will be paying by a huge increase in your premium. I’ve
seen insurance plans go up 79% after the first twelve months. Totally
ridiculous. The consumers cannot afford this.
Another huge problem which I’ll go
more in depth in another article is prescription drug cards. I really
can’t see where the consumer wins here either. Don’t
get me wrong, if you’re on an employer sponsored group health
insurance plan your probably getting a good deal but I can assure
you that your company is paying out the nose for the coverage you’ve
come to love. I talk to people weekly who literally work for their
health insurance coverage. If you can do without a prescription
drug plan I would. It can generally save you 20 to 40% off your
premium by not having this benefit.
Consumers usually pay 500 to 700 dollars
a year for this benefit alone while the average family who can qualify
for individual or family medical plans don’t spend near this
amount of money. And, once again when you finally use your card
the insurance company will generally offset the cost at your renewal
date by raising your health insurance
premium. Cut out these things and go with a deductible of $1,000
or higher and you will definitely save yourself money both in the
short and long term. Most of us can pay for the occasional doctor
visit and prescription rather than giving our money up front to
the Insurance Company. Just a little food for thought.
You can find more Health
Insurance Information here
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