Health insurance these days is not affordable for the vast majority of people. Between the monthly premium that you have to pay to keep your plan active, and the co-payments that you need to make every time you see your doctor, plus the deductibles and co-insurance, the cost of your healthcare can quickly escalate beyond your budget. Thankfully, though, there are a few ways that you can cut costs on your health insurance, and some of the best ways are listed below.
Opt for a Supplemental Health Insurance Plan
If you can’t find a comprehensive plan that is affordable and will give you everything that you need throughout the year to maintain your health, you should seek out an affordable plan that covers the basics and then look for a supplemental health insurance plan to cover the rest. A great place to start is Health Values, which offers some supplemental plans that can ensure you will be able to keep your medical expenses affordable.
Go for a Lower Monthly Premium
When you opt for a health insurance plan that has a lower monthly premium, you will notice that other costs that are associated with the plan, such as deductibles and co-payments, are higher. However, if you are generally healthy and you do not require screenings, long-term care, prescriptions, or exams throughout the year, you can save money by opting for this type of plan. This is because co-pays and deductibles are only applicable when you actually see your doctor, so if you hardly see the doctor, sticking with a low monthly premium will give you the coverage you need for peace of mind, while making it more affordable for your wallet.
Always Use In-Network Doctors
If you are very loyal to a particular physician, you should make sure that he or she is in-network before opting for a specific health insurance plan. Otherwise, you can go with any affordable plan that gives you the coverage that you think you need. However, you will need to find out which doctors and specialists in your area are in-network. Sticking with in-network doctors and medical facilities will ensure you will have to pay the lowest out-of-pocket costs and the insurance provider will cover the rest.
Opt for a Subsidized Plan
Thanks to the Affordable Care Act, you can now purchase a health insurance plan that is subsidized by the government. You will need to prove that you do not make enough money each year in order to afford a plan totally out-of-pocket, but you will be given a variety of options to choose from, including basic plans that are more affordable and comprehensive plans that are pricier. The government will determine how much of a discount you are eligible for so that you can pay a lower premium each month.
Keep the tips above in mind if you are struggling to make ends meet when it comes to purchasing health insurance. You can use these strategies to cut costs and still get the coverage that you need to be well.