by James Tuck
Experts have proven the necessity of individual health insurance. Now, healthcare leaders must do whatever possible to ensure individual health insurance plans are affordable. Some healthcare plans are low cost and will fit with nearly any budget. People do not have to sacrifice quality healthcare because they cannot afford it. There are ways to save on health insurance without sacrificing coverage.
1. Obtain a High Deductible Individual Health Insurance Plans
Individual health insurance quotes with high deductibles usually have a lower monthly premium. Low monthly premiums are preferable for people on a budget. High deductible insurance is recommended for patients who are in good health and can afford the deductible.
Experts recommend combining high deductible insurance with a healthcare savings account (HSA). The HSA will cover the expenses for the deductible should your expenses exceed the deductible amount. An HSA may be obtained for as little as $50 per month. The money may be deducted from an individual’s salary before taxes every month.
The government is starting to recognize the expense of healthcare. HSAs can offset the expenses. Even prescription drugs may be covered by HSAs.
2. Sacrifice Flexibility for Savings
There are four different types of healthcare insurance: Preferred Provider Organization (PPO) Plans, Point of Service (POS), Health Maintenance Organization (HMO) Plans and Exclusive Provider Organization (EPO) Plans. HMOs and EPOs are restrictive in the sense that these plans require only visiting in-network doctors to receive discounts. EPOs, in general, will not pay for out-of-network doctors. HMOs also require patients to establish a primary doctor in-network. This doctor will also be responsible for referrals.
PPOs are typically the most flexible and will allow patients to obtain care from an out-of-network physician. The patient may be required to pay a higher deductible and co-payment for the convenience of receiving care from an out-of-network physician. Obtain an HMO or PPO for more savings.
3. Find a Flat Rate Plan
Believe it or not, there are some flat rate plans offered. These plans do not require a medical interview for pre-existing conditions. Simply choose the plan, sign up, pay and proceed to the doctor. This is the latest breakthrough in healthcare. Before this introduction, patients had to expose their entire healthcare record to each healthcare organization.
Patients were also subject to exposure through keystroke loggers. An entire medical history may be exposed while completing the online inquiry. Even though the site is secure, spying eyes on a computer may be able to detect some information.
This is a major concern for some patients. Flat rate plans do not require patient medical history. Patient information is protected and coverage may be obtained within a few days. The deductibles are low, but patients are required to pay out-of-pocket for some expenses.
4. Get Insured in a Group Plan
Group insurance is often less expensive than individual insurance. When certain groups come together to obtain health insurance, discounts may be applied. Professional organizations are most commonly eligible for these discounts. Patients are advised to become members of organizations within your industry and search for related discounts with the organization. When insurance is purchased as a group, it can often be less expensive.
5. No Substitute of Comparison Shopping
There is simply no way to substitute of comparison shopping. This can result in significant savings for health insurance plans. Online comparison companies are available to help consumers select a low cost health insurance plan. Third party companies often help consumers gain access to multiple quotes at once from reputable insurance companies. These types of companies are useful because consumers can determine the best deal on healthcare designed for their particular circumstances.
Sign Up for the Lowest Cost Individual Health Insurance Plans Online
Consider signing up for the lowest cost individual health insurance plans online. Lower cost insurance may be found as low as $20 per month in some instances. A little research can help people obtain adequate healthcare insurance at affordable rates. Sign up to obtain preventative care and detect illnesses before the conditions develop to chronic levels.