ealth insurance policy for a long time, people can be reluctant to find alternatives. They are afraid that they will lose benefits and get reduced coverage when getting new policy. When using an insurance policy, you should always make sure to get the biggest value for your money
- 1. Use only benefits that you need: You may spend too much money if you have coverage and benefits that you don’t need. As an example, you may need to always include preventive check-ups and treatments, so you can maintain your health and stay productive. It’s a good idea to check with your doctor to know what parts of the insurance policy that you need. As an example, you can be vulnerable to specific illnesses based on previous check-ups. Tendency to have high blood sugar level due to genetics factors will require you get coverage related to diabetes and other associated diseases.
- 2. Consider individual coverage for each family member: The most common way we get health insurance policy is through a sponsored health insurance plan from our employers. The plan includes all other family members, with the aim to attract and retain qualified employees. However, the cost of health insurance plan could be partially taken from payroll deduction, which means that the amount of salary will be reduced. You may ask the employer to exclude coverage for other family members. Make calculations of how much money that you will save by getting an alternative health insurance provider for the rest of family members.
- 3. Consider worst case scenarios: Health insurance policies are not really intended to deal with common colds or minor scrapes. Your primary goal is to make sure that you are protected against worst case scenarios. Unforeseen major expenses can be disastrous financially and it may result in medical bankruptcy. Make side by side comparison of each plan, to make sure that you get the most protection without causing you to pay too much for the monthly premiums.
- 4. Use network providers: It is a good idea to choose network providers with your insurance carriers. If your insurance providers use a network, you will get pre-negotiated rates for labs, hospitals, doctors and others. If you use doctors outside the network, you can’t control price and this will be compensated by more expensive premiums. In-network doctors and hospitals typically agree for lower rates, because they are getting a steady customer base.
- 5. Consider HSA: HSA or Health Savings Accounts is a good way to redirect payments of premium. Instead of paying directly to the insurance company, you can pay automatically through a specific bank account. It’s a good idea to choose health insurance plan that’s compatible to HSA. These plans are usually approved by IRS and you can deduct from your taxes. With this account, you can pay for any medical costs tax-free. A medical plan should be deductible, so you can enjoy significant premium savings.
- 6. Use ozone-based washing machine: If it’s time for you to replace your old washing machine, consider new models that use ozone to clean and disinfect your clothing. These machines inject ozone into the water, so you don’t need to use detergents and other chemicals.
