How To Save Money On Your Health Insurance Premiums
Caring for your health should be a primary concern. So, when it comes to spending on your health, never hold back on money. Yet, health insurance premiums can use up a big chunk of your salary. It really does help to know how you can reduce your health insurance premium without having to compromise your health. We will tell you how.
Raise Your Deductible
If you raise your deductible, then you can definitely lower the premium. However, there are a few pros and cons to this. If you are lucky enough to buy your own insurance, only then you can do this. Also, you need to be sure that you and your family members are in exceptionally good health. You can raise your deductible only if there is no risk of any emergency in the future. It might not be as bad as you think since vaccinations, check-ups, and preventive cares are for free.
Get Rid Of Nasty Habits/ Addictions
If you are a smoker, you already know what we are talking about. Smoking might take your premium up to 50%. Instead of paying that much extra, why not switch over to a healthier lifestyle? You will be doing yourself a favor and saving a lot of money, too! Changes can’t be drastic, so, take it slow. Get a patch, join a support group — just do whatever it takes. Apart from quitting, always remember to take care of your health in general. Eat more fresh fruits and veggies, do exercise every day, and don’t forget to take your vitamins!
Don’t Run To The Doctor Every Time
Once you start taking care of yourself, your visits to the doctor will be fewer than before. Also, for small ailments, skip your regular doctor, and turn to natural treatments. Home remedies, homeopathy treatment, or naturopathy work great for minor skin problems, common cold, sore throats, cough, mild fever, diarrhea, and other common ailments. Of course, if your symptoms persist for more than three days, you should see a doctor.
In-Network Doctors Will Cost You Less
We don’t always get a doctor who makes us happy with our choice. This is very crucial. Being happy with your doctor means half of your illness is already gone. Look for your preferred doctors in the provider’s network. If they are there, it will cost you less; if not, be prepared to pay out-of-network charges.
Pay More Co-Insurance
Change the co-insurance ratio to reduce your monthly premium. Co-insurance ratio determines how much you will pay after the deductible. Most of the time, it is 80/20. After the deductible, 80% of the remaining amount will be paid by the company, and 20% by you. You can change this ratio and pay more. This will help you lessen the monthly premium.
Ask For Generic Name Of Medicines
When your doctor, gives you a prescription, request him to mention the generic names of the medicines instead. Generic names are definitely cheaper compared to branded ones, yet both have the same benefits. If your prescription coverage is not good at all, ask if the doctor has free samples. Explain your condition, and you can get your entire prescription for free.
Go Through Your Coverage Inclusions Before Getting Treated
Before you go ahead with your treatment, check what is included in your coverage. Having an estimate of the costs always helps. If some other less costly alternatives are available, discuss them with your doctor. Sometimes, doctors can even cancel a few tests if they think they are not necessary. This way, you can reduce the costs incurred from your own pocket.
Revise Your Health Needs
As your family expands, or as you get older, your health needs might change accordingly. Ask yourself a few questions – do you have children who go need to get check-ups regularly, do you have a chronic illness that has a lot of prescription drugs? Based on your questions and answers, you can change your health plan periodically.
Whatever you do, remember, the main aim of getting a health insurance is to take care of your health in the best way. Hence, if you end up spending a few bucks for yourself, it doesn’t matter. Think of it as an amount spent on self-care!
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