It is important to have a health insurance policy as it provides you and your family with the necessary protection when facing medical problems. In fact, having a health insurance policy helps avoid huge medical bills. Despite the importance of a health insurance policy, more than 47 million Americans are not insured. A main reason for their not getting a health insurance policy is the high cost of its premiums. However if you are thinking of getting a health insurance policy, but are hesitant because of its large premium amounts, the good news is that these tips can help reduce your insurance premiums and all its related healthcare expenses.
Opt for a higher health insurance deductible
Though it is not possible to do this with all health insurance policies, with a high deductible, you can save hundreds or thousands of dollars per year. However if you opt for this, make sure your emergency fund or health savings account has the necessary funds to pay the deductible, if necessary.
Buy generic drugs where possible There are many drugs that are available in generic form, and cost less than half the rate of its brand version. Moreover, major retailers like Walgreens, Target and Costco also offer $4 prescriptions and some of them, free antibiotics.
Try using health clinics
Health clinics are great for health examinations, and also help you save some money in your prescriptions. You can save a sizable amount by going to the university health clinic. Supposing you were paying $30 per month for prescriptions in your previous health insurance policy, if you go to the university health clinic, you only have to pay $40 for three months’ medication. This way you stand to save as much as $240 a year just by visiting health clinics for your examinations. So to save on your health insurance premium, check with the local health department to find out about any such health clinics you can use in your locality.
Consider private health insurance
It is not always that your employer gives you the best deal available on health insurance. With the help of a good online tool, you will be able to shop around and compare the rates and policies offered by different private health insurance companies. While searching, you may find some better policies that seem to be much more affordable for you. Moreover, if you are lucky, you may also qualify for a state run health insurance program, which can also help reduce your health insurance costs. So you now have four helpful and effective tips that will effectively help you save money while buying health insurance policies, and thus save on your medical care expenses. Though many people try to cut down costs and save money through their health insurance policies, it doesn’t imply that you have to sacrifice the quality of the healthcare you receive in the process.
Just follow and use these tips and you too will be a consumer who can get a health insurance policy at an affordable rate and affordable monthly premiums.