Ways to Save on Health Insurance Sedona AZ
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Ways to Save on Health Insurance
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With the wide variety of health insurance plans available, choosing the lowest cost option should not be the only factor influencing your decision. Instead, you should look for a plan that fits the needs of your and your family. After selecting a plan, there are ways to save on your health insurance costs. Here are 10 Tips to Save on health insurance.
1. Compare Multiple Health Insurance Quotes
Premiums can vary greatly, sometimes as much as 50% for similar plans. When comparing plans be sure to evaluate the benefits as well as the monthly premium. Make sure your plan provides adequate catastrophic coverage, with preferably at least a $2 million lifetime maximum benefit.
2. Raise Your Deductible
The higher your deductible, the lower your monthly premium. Keep in mind, you will be responsible for medical bills out of your own pocket until this deductible is reached. However, there are plans that will waive the deductible for office visits, preventative care, prescription drugs, or accidental injuries.
3. Factor in Co-Insurance
Co-insurance is the amount the insurance company will pay after you meet your deductible. Most companies will pay 80% of the medical bill after the deductible up to an annual maximum of typically $5,000 to $10,000. Medical bills in excess of this annual maximum will be covered at 100% by the insurance company. Some companies offer 50% co-insurance plans which may lower the monthly premium. But if you visit your doctor frequently, the policy may actually cost you more in the long run....
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