Health Care Coverage: compare plans to save

The cost of health care is increasing every year and many people do not know about options available for saving money when it comes to their health.

The Patient Protection and Affordable Care Act signed into law by President Obama on March 23, 2010 mostly addresses access to health insurance coverage and assures that all Americans who need coverage will be able to get health insurance. It is still not clear how the legislation will impact the cost of health insurance, especially premiums and out-of-pocket expenses. It is likely the costs will continue to increase for the foreseeable future. Also, many of the changes in the health reform legislation will not be effective until 2014 or later.

There are things that you can do now to help lower your health insurance costs, or at least help prevent those costs from going up. Whether you get health insurance from your employer or purchase your own insurance, you are probably paying a hefty amount for your monthly health insurance premium. Heath insurance premiums have been rising every year and many employers are asking their employees to pay an increasing percent of their health premium as a deduction from their paycheck.

You may find the following tips helpful:

1. Increase Your Out-Of-Pocket Expenses
Most insurance companies have health plan options that allow you to choose from among health insurance policies that have lower monthly premiums if you consent to pay more out-of-pocket costs, such as yearly deductible and copayments for services and prescription medications.

2. Shop for Private Health Insurance
For some consumers, buying health insurance is the only health coverage option. However, even if you have health insurance from your employer, private insurance may still be an option to save money. With health insurance premiums increasing every year and employers passing more of the costs onto their employees, your company’s health insurance may not be the best deal.

3. Review your Health Insurance Options / Compare Plans
Depending on your age, health and lifestyle, many individuals are placed on a health insurance plans that do not best fit their needs. Please call us or visit us online to see what plans best fit your life.

4. Get Healthy and Stay Healthy
Living a healthy lifestyle, including stopping smoking, wearing seat belts when driving, exercising, and maintaining a health weight can decrease your healthcare costs. Interestingly it can also help reduce your health insurance premiums.

A recent study showed that up to 80% of people actually overpay for their medical insurance policies. However, by following some of the above methods and consulting with an experienced agent you will be able to find the best health insurance policy that fits your needs and your budget.