How to save on health insurance
With all of the changes in the federal government’s system of health care, one should seriously consider some of the ways to save some money. Despite a failing economy, there are ways to cut corners and still remain fully covered by health insurance. How to save on health insurance is up to the individual but the information is forthcoming, especially with a little legwork and research.
For starters, if one is under the age of twenty-six, he or she may now be covered by a parent’s policy. This is a new development under the new stimulus plan and went in to effect this past September. Therefore, a young professional who has found him or herself laid off suddenly will be able to put off shopping for insurance if they could be covered by a parent’s plan.
Those who wonder how to save on health insurance should consider contacted Medicare and Medicaid. The information is available and if one were to ask a representative some questions, the answers might be surprising. For example, early retirees are able to purchase health insurance in the years leading up to their Medicare payments.
Remaining focused on savings is almost a full time job in itself but those who suddenly find themselves jobless should not settle on a Cobra plan without doing some extensive research first. Sometimes it is a lot more reasonable to find an individual policy instead of paying the higher premium through Cobra. Even with the new subsidy plan in place, sometimes other plans are more cost effective. A way to find out how to save on health insurance is to enter a zip code in the above box. Its just one way to research the best savings out there that way being stuck with hefty Cobra costs will be a thing of the past. Compare, contrast and save.
Believe it or not, a health care provider might charge more for pre-existing conditions while others do not. It is worth shopping around for those who have more lenient policies in place. What might be a red flag for one company, such as high cholesterol, might not be a concern for other companies. Comparing at least three quotes from three different companies is worth doing and will ensure the customer that his or her final decision in choosing an insurance company is the smartest one.
Finally, any person may lower premiums by raising his or her medical deductibles. Not many people know that this is a possibility and some are fearful this move may hurt them financially in the future. However, if an individual has at least a $1150 deductible in place, a tax-deductible contribution of up to $3000 is allowable and entered in to a health savings account. In turn, the health savings account will be available for use tax free for medical expenses in any future year. What a great way to save some money and prepare for the future.
Many wonder how to save on health insurance. The above are just a few pointers made publicly for consumers. Other tricks and tips are worth finding through determination and grit because unless one is proactive, the savings don’t find their way to a customer on its own. It’s the customer’s responsibility to seek his or her savings on his or her own.