Health insurance is no more an optional purchase. Given how steep health insurance costs are, it’s something you absolutely need. Without it, a single hospital admission could wipe out your hard-earned savings. But, while you need to have a health insurance plan, you don’t need to overspend for coverage.
Here are 5 smart ways to bring down your health insurance premiums.
Increase Your Deductible
If you need to purchase your own health insurance plan as opposed to getting it from your employer, consider purchasing a plan with a higher deductible. This will lower the cost of your health insurance premium. But, remember that it will also reduce your coverage. However, if you are a healthy adult who hasn’t been to the hospital too many times and has some savings to cover the deductible, this can be an excellent way to bring down your premiums.
If you want to get the best deal, it’s important to comparison shop. Get quotes from multiple insurance providers before you pick a plan. And, when doing your comparison, don’t just look at the premium, make sure to also look for hidden costs and out-of-pocket expenses that could make your plan more expensive.
Look After Yourself
Gone are the days when you could go running to the hospital for the smallest sniffle. Given how expensive healthcare is at present, it’s important that you do your best to take care of yourself. There are multiple remedies that you can use at home to keep yourself at the peak of your health. For instance, eating a healthy diet and working out regularly can keep your immunity up.
If you smoke, you’ll need to pay a higher premium. You’re also more at risk of health complications. So, try to quit. Get a patch, ask your family friends for help, join a self-help group, or do just about anything else that will help you kick the habit.
Ask for Generic Medications
If you need a prescription, let your healthcare provider know you need generic meds. They’re a lot less expensive in comparison to name-brand drugs and offer the same benefits. You can also ask your physician for free samples.