Save Money on Health Insurance


Save Money on Health Insurance          Health insurance in this country is one of the biggest expenses many families and individuals have to contend with. Health insurance costs are the number one cause of bankruptcy among Americans due to getting sick and having to foot the bill for medical coverage completely or a portion of it themselves. Health costs in the country have only been rising with no end in sight. Follow these steps to save money on your health insurance.

Step 1

If you need to buy health insurance yourself get free health insurance quotes. You can get free health insurance quotes from many medical insurance companies. You may be able to obtain much of this information online through their websites. If not you must call the company directly and ask for quotes on the policies you are interested in.

Step 2

Switch to an HMO health insurance plan from a PPO. Generally HMO plans are cheaper than PPO health plans because they require you to get a doctor’s referral to go see a specialist. PPO’s usually do not. For this reason HMO health plans are usually cheaper per month to maintain than PPO plans.

Step 3

See if you qualify for government assisted health insurance plans. If you are a low income individual or family with many dependents you may qualify for government or state run programs that offer low cost health insurance to the under insured.

Step 4

Negotiate with a hospital before having a procedure done. Most people do not realize that if you are paying outright for the cost of medical care you have some bargaining power to negotiate with the hospital. Health insurance companies use massive bargaining tactics to obtain their rates for procedures. Before you get care at a hospital let them know you cannot afford the procedure and would like to work something out. This is becoming more and more common today and many people are saving money on health care costs in this manner.

Step 5

Take your employer’s health insurance plan if one is offered. It is much cheaper to be on an employer sponsored health insurance plan than an individual one. Companies have bargaining power to lower the costs of health insurance plans because they have many employees. Individual health insurance cost rates are always much higher.

Step 6

Add yourself onto a spouses existing health insurance plan rather than taking your own. It is usually cheaper to be jointly filed under an insurance plan than having your own individual insurance.


Additional Advice

                   Medical tests such as X rays and MRI’s are extremely expensive if paid for outright. Make sure your health plan covers the costs of those tests.

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