Save Money on Health Insurance – Creative Tips

Get more health insurance with less money.

You may not think that two health insurance policies can be better and cheaper than one, but give me a chance to explain. Sometimes 2 policies can be cheaper than one, and they can also provide very comprehensive coverage.

Major Medical – High Deductibles

Of course, the first policy to consider is a major medical health insurance policy. However, if you live in the US, you know that health insurance is expensive, and rates are expected to increase every year. One way to control costs, and to control the rate of increase, is by purchasing a higher deductible health plan. Many health insurance companies will offer extended price guarantees for health insurance plans with deductibles of five or ten thousand dollars. Sometimes these plans even come with prescription plans and doctor copays that kick in before the deductible is paid.

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!

Accident and Health Insurance Supplements

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 be able to purchase a supplemental health and accident policy as a package, or find one accident policy and one sickness policy. Sometimes health insurance comes with an association membership, and the association provides supplemental coverage for a very reasonable price!

A qualified insurance professional can help you.

Health insurance is expensive, but an experienced health insurance agent can help tailor a plan that works for your family and fits in your budget. I would suggest finding an insurance agent that represents more than one company, rather than a captive insurance agent who is highly motivated to push one type of plan! You should have an opportunity to compare different types of health insurance policies.