Affordable health insurance might seem like a pipe dream however you should know that there are ways to find medical coverage that can fit into your budget, if you’re willing to do a little legwork and make health care a priority. Just like anything else, you can find the best deals if you shop around and do your research.
The first step in finding a cheap insurance policy is to take some time to evaluate your current health care needs and review how much you’ve spent in the past on doctors visits, hospital stays, prescription medication and other treatments and therapies. This will give you a good idea on what kind of coverage you will need. Although there are no guarantees, a young health person generally will not spend as much on health care as an older person with pre-existing conditions.
If you aren’t anticipating needing much medical care, a high deductible plan can be a good way to make sure that you are covered for catastrophic events without spending a fortune on premiums. A five or ten thousand dollar deductible might seem useless, but when you consider a major illness or accident can run up medical bills into the hundreds of thousands, you can see that it is indeed worth it to get coverage.
A smart way to make the most of a high deductible policy is to combine it with a tax advantaged health savings account. This means that while you’re young and healthy you can save money to use towards medical care that you will need in a future all the while saving a bit on taxes. See your accountant or human resources benefits administrator for more information on which health savings plans are available to you and if they will be of any advantage in your situation.
Be sure to get multiple health insurance quotes before settling on one policy. There are several websites that will offer you quotes from many different insurers. These sites have easy to use interfaces that make comparing various policies head to head a snap. Do take your time and make sure that you’re using a reputable site and not a spam site that will just sell your information.
When shopping for a policy, look beyond just the premium price to see what expenses you can anticipate having to pay out of pocket. This can cause the cost of your cheap health insurance to skyrocket! Also be sure to check to see if your preferred physicians and facilities participate in the plan and whether or not maternity coverage is included.
Finally, while all health insurance policies will come at some cost, remember that medical care is pretty important. Do go over your budget closely and look for less important expenses that you can trim. It’s a sacrifice, but worth it for long term peace of mind.