Today’s guest post is by Nina Bernice.
Perhaps the most important decision we make as a consumer is which health insurance to buy to protect our bodies and wallets from accidents and emergencies. And as time consuming and frustrating as the process seems sometimes, it is a necessary event to consider.
More than half of all bankruptcies that are filed in the United States are caused by medical bills and / or illness. There are still 46.6 million uninsured Americans. However, choosing an affordable health insurer is easier than ever if you know where to look, and how to do it.
Below are 6 smart tips in choosing an affordable health insurance.
1. Consider the location.
There are places with more affordable insurance than others. Begin your insurance search online, on your state’s insurance web site. Not only can you peruse state sponsored cheap health insurance plans to see if you are eligible, but many states will also list top private insurers and compare their rates and services.
2. Consider your priorities.
The easiest way to find affordable insurance that will protect you in your unique situations is to list what is most important to you and your health. Do you have a particular doctor that you want / need to keep seeing?
The most difficult part about finding good insurance is usually the mountains of paper and contracts that must be waded through. However, if you list out your top five priorities, and bring them up to the insurance companies, your search automatically becomes narrowed down only to the companies that can provide those things.
3. Consider a HSA.
A high deductible, low premium health plan is perfect when placed hand in hand with an health savings account. The money deposited into an HSA goes in tax free, which is another benefit. An HSA can also serve as a retirement account after age 65.
4. Consider a broker.
Another way to make your job finding cheap insurance much easier is to use an insurance broker. The National Association of Insurance Commissioners (naic.org) and the National Association of Insurance Underwriters (nahu.org) keep tabs on reputable brokers.
Your broker should have a large list of options and connections with various insurance companies. More options mean more choices for you, and keeps you from dealing with a broker with under the table deals.
5. Consider the freebies.
Many insurance companies are offering money back guarantees if you are unhappy with their services and report it to them within a set period of time. Take full advantage of these offers.
6. Consider negotiation.
Do not be afraid to negotiate high co pays with a doctor or drug treatments with your insurance company. The squeaky wheel gets the oil, and paying out of pocket is nothing to be quiet about.