Creative Way to Save Money on Health Insurance
Sometimes the health insurance solution means that less is more.
When you are shopping for health insurance, either for your family or your business, you may actually save money by using two policies than one! This may surprise you, but many agents are urging their clients to consider purchasing two separate types of health policies to provide great coverage for less money.
Major Medical - High Deductibles
We all know that major medical premiums are expensive. But sometimes we can find a plan with a fairly high deductible. It will cost less, and will usuallly be easier to be accepted for. In fact, some insurers will even offer longer price guarantees with a higher deductible plan. And if it is important to you, you may be able to find one with an RX plan and doctor’s office copay.
Now, a five or ten thousand dollar deductible may seem steep, but consider saving a few hundred dollars a month in premium. Also consider the fact that many insurance companies will not underwrite, or evaluate risk, as strictly on a higher deductible policy. If you, or somebody in your family or small business has a health condition, a higher deductible health plan may be your best option!
Health/Accident Supplemental Health Insurance
Next, consider a supplemental illness and accident policy to fit right under your deductible. These type of plans are usually fairly inexpensive, and provide cash in case of an accident or specified major illness. You can use this cash to help defray your deductible expenses, or provide for medical expenses that your major medical policy may not cover. You may also need the cash for extra expenses like transportation or meals out while a family member is being treated for an illness or injury.
You may find a package of sickness and accident protection, or you may need 2 different policies. You may also be able to buy this coverage from the same insurer who provides your basic health plan.
Look for more help from a qualified agent.
Major medical insurance will be expensive for most people, but an experienced professional should listen to your needs, and then find a plan that you can afford. If you can find a professional who represents a variety of companies, you should be able to compare your options.