Health insurance is often considered the most essential type of insurance a person holds. Many types of insurance only apply to people who own certain assets like a car or home or who have specific needs. Everyone, however, can benefit from health insurance, which can cover a wide range of expenses such as doctor's visits, preventative health care and surgery. Health insurance can be very expensive but there are ways to find more affordable health care.
Get Insurance From your Employer
Health insurance is one of the most important benefits employers offer. Employers frequently offer subsidized health insurance through group insurance plans that employees can join regardless of preexisting medical conditions. When you search for a job, make it a priority to find a company that offers good health-care benefits. If your current job offers no health benefits or poor benefits, consider looking for a job at a different company with better health benefits.
Get on Your Spouse's Health Plan
Group health plans offered by employers can often be extended to spouses and children. If you are self-employed or do not have access to health care through an employer but your spouse has a health plan, add yourself to your spouse's plan.
Accept Higher Deductibles
A deductible is an upfront cost you pay before an insurance company will cover a medical expense. The higher your deductibles are, the less your health-care plan will cost. Choosing a plan with higher deductibles can make health insurance more affordable. However, if you happen to need a large amount of care, you might have to pay your full deductible, which can be expensive if you choose a high-deductible plan. If you are relatively healthy and don't plan to use your health insurance unless you suffer a catastrophic injury or unexpected illness, consider a high-deductible plan.
Accept Higher Copays
Copays are flat fees that you must pay for certain health-care expenses such as prescription drugs and doctor's visits. If you don't use prescription drugs, getting a health insurance plan with high copays on drugs might save you money.
Shop Around
Comparing all the options available is one of the keys to saving money on insurance. Look at as many different plans from as many different health-care companies that serve your area as possible to find a plan that works for you. According to Bankrate.com, "While your options will vary depending on your state, the best way to find cheap health insurance is to start by getting a rate quote online." If you don't understand something in a health plan, ask the insurance company to clarify the issue, as misunderstandings can potentially lead to unexpected costs.
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