Just as you can shop around for your
car insurance quotes, you can also shop around for your health insurance
quotes. In fact, insurance comparison is indeed a vital fact when it comes to
borrowing an insurance policy to cover your health conditions. One of the main
goals of the Affordable Care Act is to make comprehensive shopping simpler and
easier. You can now simply compare insurance quotes through their official
website.
Here are some ways in which you can lower the health
insurance premiums
- Stop smoking if you are an
active smoker: The health care reform altered
the entire landscape of the insurance industry as it prevented the
insurers from using gender bias while deciding the price of the health insurance policies. However, they had the permission of charging more to
the smokers, at least 50% more for the same plan as they stood the risk of
heart and lung diseases.
- Raise the deductible amount: Irrespective of whether you’re an individual or you’re
enrolled in a group, remember that the more you pay as the deductible or
the out-of-pocket expenses, the lesser will be the amount that you have to
pay on premiums. Hence, raise the deductible as long as you can afford it.
- Bring an alteration to the co
insurance ratio: The co-insurance ratio is the
amount that you will pay after you have paid off your deductible. A very
common ratio prevalent among the borrowers is 80/20. This means that once
you pay those out of pocket expenses, your insurer pays 80% of the bill
and you pay the rest of the 20%. If you can change this ratio and pay
more, this will definitely mean a lower premium.
- Choose a doctor within the
network: Whenever you start researching
your plan options, you start being happy with the selection of doctors.
You should definitely be looking at the benefits and costs of the doctor
but don’t forget to choose a health care provider within the network. In
case your favorite doctors are not participating in the plan, you might be
subject to out-of-network charges.
So, you can well understand the importance of
insurance comparison if you’re about to take out a health insurance policy.
Follow the above mentioned tips to save your dollars on the policy and use it
elsewhere. The lower is the risk of the borrower, the lower will be the
premiums.