Nov 20 2009
How to Save Money on Individual Health Insurance Plans
If you find yourself in need of purchasing one of the many individual health insurance plans in the market today, because of a job loss or simply the loss of company insurance, there are a few things you can do to lower the premiums you will need to pay. Did you know that if you smoke, your insurance rates will be higher? If you are going to be purchasing an individual health insurance plan in the near future but still have a little time on your current plan, stop smoking. This can save you a lot of money on premiums.
Do an Internet search for individual health insurance plans. You will obviously find hundreds of listings. Do enough research to narrow down the choices to 3 or 4 companies with the lowest rates. Be sure to include only companies that have high credit ratings. You want to be sure the company is around when you have a claim to be paid.
When you have several choices, go to their websites and do some in-depth research on what their plans cover. Most plans will be similar in coverage, but it is very important to know exactly what you are buying because when it’s time to pay a claim, you will probably be in no position to handle a surprise.
In order to keep the premiums lower, you can select a higher deductible. The deductible is the amount of money you must pay towards your medical expenses before the insurance is required to pay anything. Some companies allow for very high deductibles. Just be sure that whichever one you select is one you can comfortably deal with if you have a claim. These are just a few tips on buying individual health insurance plans, but rest assured that if you do your homework you will typically be able to save a lot on premiums.
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