Saving money on health insurance can be a tough balance between keeping the costs affordable and manageable while not cutting too many corners. Start a search today to find affordable health insurance that keeps you and your family well protected.
With the right health insurance plan, you can enjoy peace of mind, knowing that you have a safety net to cover unexpected medical expenses and access to healthcare while still keeping your budget in check.
Get Help From a Broker
Insurance brokers are independent professionals who work for the end clients who hire them, not for the insurance companies that provide the coverage. Thus, they are incentivized to sell their customers the best, most comprehensive insurance products at the most affordable possible prices.
Brokers excel at giving case-specific advice. Choosing wisely could save you money which is why it is important to understand the difference between HMO vs PPO plans.1
Opt for Generic Alternatives
Some plans cover prescription drugs. Here’s a word of advice: brand-name drugs are typically 30 to 50 percent more expensive than their generic counterparts. However, their active ingredients are identical and their formulations are essentially the same. If your plan covers prescription drugs, specify that you will go generic if it will save you some money on your premiums.
Embrace Telemedicine
A growing number of physicians and medical networks are offering telemedicine services for non-emergency issues. Telemedicine is conducted over the internet: you’re connected to a doctor, usually via a video link, where you can explain your symptoms.2 Taking advantage of telemedicine services when they are offered can save you a bundle.
Consider Non-Traditional Coverage Options
An alternative coverage model known as health sharing plans are gaining momentum as an alternative to traditional packages. A typical plan might only cover an individual and his or her dependents. Health sharing plans are jointly owned by a wider pool of participants, who all contribute to each other’s coverage.
Final Thoughts
These strategies are all designed to help bring down your health insurance costs without sacrificing your level of coverage. There are many other options at your disposal to save on health insurance.
Always shop around carefully before committing to a particular health insurance plan. Keep in mind that the plans available through government-endorsed exchanges vary from state to state.
