- 6 Best Ways to Save Money on Your Health Insurance
Looking to save money on your health insurance? Want to know how do it? Here are the 6 best ways to save money on your health insurance.
1. Government health care programs
Federal and state governments offer a number of low cost and no cost health care programs for low income families, the elderly, pregnant women, and children. To find out if you qualify for one of these programs, visit you state's department of insurance website or call them on the phone.
2. Shop rates
If you don't qualify for a government program, the best way to save money on health insurance is to shop rates from various companies. You can save hundreds of dollars by simply going to an insurance comparison website, comparing rates from different companies, and choosing the best rate. Most of these websites only work with A-rated companies so you know you'll be getting a cheap rate with a good company. (See link below.)
3. Choose a managed health care plan
Managed health care plans - HMOs, PPOs, and POSs - are the least expensive comprehensive health care plans. With these plans you are assigned to a group of doctors and hospitals that are responsible for your health care. These plans pay for your doctor bills, hospital fees, and prescription drug costs.
4. Get a Health Savings Account
A Health Savings Account (HSA) is an inexpensive, major medical health insurance plan, coupled with a tax-deferred savings account. You put money in the savings account to be used toward paying your health insurance deductible. That money is tax deductible and can also be used to pay for health care expenses such as prescription drugs, vision care, or dental bills. The money that remains in your account earns interest tax deferred.
5. Pick a specialized health plan
Specialized health plans cover particular illnesses or particular medical situations. For instance, hospital confinement plans pay your hospital bills each day you're in the hospital. Specified disease plans pay your medical bills for individual diseases such as AIDS, cancer, or heart disease.
6. Major medical plans
These plans cover catastrophic illnesses such a cancer and heart disease. Basic major medical plans pay for your hospital expenses, plus X-ray and lab tests, while you pay for doctor visits and prescription drugs.
Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get health insurance rate quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on health insurance.
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