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Save
Money on Your Health Insurance
Use
an Agent
An agent can save you both time and money when shopping for health insurance.
The insurance network works diligently with your specific insurance
needs to find you the lowest rate possible. To request a quote from
an agent in your area click here.
Determine
Your Needs Before Buying
Research the various insurance plans, coverages and options. Find
out which best suits you and your family. Don't buy more insurance
than you need (i.e. young married couple probably doesn't need serious
medical coverage other than pregnancy). Consult an agent to answer
any specific question pertaining to you.
Don't
Buy Policies Excluding Preexisting Conditions
Avoid plans that exclude preexisting health conditions. You may end
up paying for a policy that doesn't cover you, which defeats the purpose
of having insurance! If you must, try and get one with a maximum six
month waiting period.
Avoid
Duplications In Your Policy
Reconsider "supplementary" additions to your health insurance.
You may already be adequately covered by your existing plan. Also
consider that a component of auto insurance covers certain portions
of health insurance (and vice versa). Check your policies.
Review
Your Policy on a Regular Basis
Always check the coverage of your policy on a regular basis. Make
sure it's flexible enough to meet the ever-evolving needs of you
and your family.
Choose
a Higher Deductible
If you and your family are fortunate enough to enjoy extended periods
of great health, you may want to choose a higher deductible. For
example, increasing it from $500 to $1,000 will significantly reduce
your insurance premium.
Pay
Premiums Annually
Although paying premiums annually may seem like a hassle, it is well
worth the effort. You can avoid the service fee and receive a discount
for prepayment! Ask your agent for availability and eligibility.
Pay
Your Correct Co-payment
Many health insurance plans set a limit for your co-payments and
out-of-pocket expenses annually. Keep a careful account of your
medical expenses to make sure you don't accidentally overpay.
Confirm
Acceptance of Elective Surgeries
In the event that you "elect"(choose) certain surgeries,
make sure your policy will cover it. If not, you may have to pay
the entire procedure yourself.
Confirm
Doctor's Fees
Depending on your insurance plan, it will often cover 80% of your
medical fees. However, your carrier's estimated cost of a procedure
may differ from that of your doctor. As a result, that 80% may shrink!
Many doctors will agree to charge your carrier's estimation and
it doesn't hurt to ask!
Provide
Correct Information To Your Carrier
Although common sense, it's important to mention. Should your information
be somehow incorrect during filing, your carrier may refuse benefits
altogether (which is definitely not a way to save money).
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