Health insurance plans are designed to remove the worry and the hassle of getting good healthcare services. As these services become more expensive, health insurance plans are there to help you deal with the costs and medical expenses. Unfortunately, the best health insurance plans are also getting more and more expensive, despite new changes such as the Affordable Care Act.
Fortunately, there are ways you can stop worrying about increasing health insurance premiums and start taking active steps towards getting better coverage for less. We are going to review some of those tips in this article.
Assume a Healthier Lifestyle
Yes, this still works. Smoking and living an unhealthy lifestyle will only increase your risk factor. Risk factor is what determines the amount of premium you have to pay to get comprehensive health insurance coverage. By taking steps to lower your risk factor, you’re actually allowing yourself to save on health insurance premiums.
Quitting smoking alone can help lower your risk factor by almost 15%. That’s a substantial reduction on your health insurance premium. Do this several months before changing service provider or renewing the existing health insurance policy to gain the most benefits.
Living a healthier lifestyle works too. A better diet, regular exercise and other simple changes all account to health insurance savings. No step is too small; the insurance company actually considers a lot of things in detail when determining your insurance premium.
Get a Supplemental Plan
Even Medicare is better when you also have Medigap to help cover the out-of-pocket expenses. An extra layer of insurance coverage is one of the best investments you can make today. You may be paying slightly more in premiums, but you will be saving thousands in the long run.
A good supplemental health insurance policy can help you deal with out-of-pocket expenses such as deductibles and coinsurance. The plan also provides a wide range of other benefits, such as savings of prescription drugs and medical imaging, access to more doctors and emergency services, and of course coverage when you’re traveling overseas.
Get a Health Savings Account
Last but certainly not least, consider getting an HSA or Health Savings Account. An HSA is designed to help you save for healthcare purposes. The savings account can then be used to pay for out-of-pocket expenses such as health insurance deductibles. The savings account is also there when you need health services that are not covered by a basic health insurance policy, such as long-term care or vision and dental care.
A good health savings account can be paired with a health insurance plan with higher deductibles. Increasing your insurance deductibles is one of the easiest ways to lower your premium almost immediately. In fact, a small increase in health insurance deductibles often results in a substantial decrease of your insurance premium.
Apply these three tips, and you can stop worrying about not being able to get proper coverage for your budget. The combination of a lower premium, good supplemental health insurance and an HSA will keep you protected at all times.
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