4 Smart Ways to Save Money on Health Insurance 2017
How to Save Money on Health Insurance
With health insurance, you will have your family protected from medical problems as well as helps you avoid huge medical bills. In a study, there are about 47 million Americans that are uninsured. One of the major cause of this statistic is the high cost of health insurance premiums. But there are a few things you can do to reduce the cost of your health insurance premiums and associated healthcare expenses. For car Insurance, read this article I wrote earlier about how to save money on car insurance, How to save money on Life Insurance and how to save money on business insurance if you are generally reviewing your insurance policy.
4 Tips on How to Save Money on Health Insurance
1. Increase your health insurance deductible
By increasing your health insurance deductible, you will save a lot of money in hundreds in every monthly premium, although this isn’t possible with all plans. Just make sure that your health savings account (HSA) or emergency fund can cover the deductible you are paying.
2. Go for generic drugs whenever possible
Some drugs in the drug store (pharmacy) are available in generic form at a price less than half the cost of the name brand version. On top of this, many major retailers in America like (Wal-Mart, Walgreens, Target, and Costco) offer $4 prescriptions, and some even offer free antibiotics for you.
3. Try health clinics
This option has been found to be a great opinion for some medical exam and it can also help save money on prescriptions. In some people health insurance, they pay $30/month for one prescription, but by going to places like the university health clinic, you might pay just $40 for three month supply, thereby saving you $240/year just by doing that. You can check with your local health department to see if there are any such clinics in your area.
4. Look into private health insurance
Many employers don’t always provide the best deals on health insurance for you. So you might choose to shop around online using an online tool to help you compare health insurance companies and see if there is a policy that is more suitable and affordable for you to choose from. You may also qualify for some state run health insurance programs if you are lucky, which can likewise reduce the costs of your health insurance.
While you are busy trying to cut down the cost and save money on their health insurance, that doesn’t mean you have to sacrifice the quality of your healthcare, but then, do everything possible to cut down the cost.
Got more tips to add to this 4 tips for saving money on health insurance premiums and medical care? Or have question, correction or contribution to make, please use the comment section and let us know what you think.