With the costs of health care rises through the roof, the cost of health insurance premiums are also increasing. Health insurance is a necessity, however, if we consider the cost of a visit to the emergency room, an operation to fix a broken bone scans, laboratory and other expenses. When the budget is limited, how can you keep the cost of their health insurance premiums down? There are several steps you can take to reduce their health insurance costs and still maintain adequate medical coverage when needed.
The first step is to consider what health insurance options you have. Does your employer offers a group medical benefit? Many employers (and / or unions) offer health benefits for full-time employees. group health insurance is usually the cheapest way to get medical coverage; an employer can negotiate with health insurance companies to get a group health plan at cheaper prices. In addition, many employers will pay part of the premium, reducing the cost of health insurance even more. Another consideration is whether your spouse has health coverage available through your employer? If so, compare your health benefits plan your spouse, and decide which health plan is the best buy. It may be possible to have a spouse carries insurance coverage family health and other drop their health benefits. Many employers have multiple health insurance options, so review these plans as well. Choose the health plan that best suits your needs at the cheapest rate.
If there is no insurance coverage is available through your employer, there are other ways to get health insurance coverage. Individual and private health insurance family policies are available. Search and compare benefits and premiums each health insurance plan. If you and your family are generally healthy, the new health savings account (HSA) may be worth considering. The HSA is an account that allows you to save money tax free for your medical / health expenses. Similar to an Individual Retirement Account (IRA), which is limited in the amount you are allowed to contribute each year; However, with the HSA, withdrawals for health expenses are not penalized, and withdrawal taxes are not paid. When combined with a health insurance policy that has high deductibles and low rates, the HSA may be ideal for you. Saving money in the HSA for deductibles and co-payments, and you’re set.
For over 65 years or those with permanent disability, Medicare is available through the federal government. The original Medicare plan is a 80/20 (charged 80% of eligible expenses and the insured pays 20%) with an annual deductible and a monthly premium. supplemental health plans are available to cover this deductible and co-payment. These complementary health plans are usually private and the insured pays a premium. Besides the original Medicare plan, there is a Medicare HMO. In these health plans HMO Medicare, Medicare premium is paid to an HMO to provide benefits to policyholders. HMO plans are more restrictive in that patients should receive care through a network provider, but often these plans cover most prescription drugs and preventive care Original Medicare.
Recently, some employers have offered lower employees who do not smoke cigarettes premiums. This is currently a controversial issue for some, but certainly can start a trend. In the future, employers and health insurance providers could offer reduced premiums for employees who maintain a normal weight, exercising regularly and receive certain welfare benefits. Maintaining a healthy lifestyle reduces the risk of the health insurance company that will be paying large amounts of money on health care in the future. And health insurance, like any other insurance, has to do with risk.
In short: go without health insurance coverage is a big risk for you. Find health coverage that can afford only when Murphy comes knocking on your door!