By Chimezirim Chinecherem Odimba
Are you looking for tips that will make affordable health insurance for an individual easy to find? There are things that will help you enjoy massive savings without putting yourself at risk. Would you like to know them? Then read through and apply the following sure-fire time-tested steps to paying a lot less...
1. There is a special type of savings account called the Flexible Spending Account. This kind of account allows you to put away tax-free dollars specifically for your health needs. The selling point about this account is that it permits you to roll over the money unused into the subsequent year tax free. This gives you a tax free method of building large reserves of funds for your health needs.
2. Buying your health insurance from the same insurance company that provides your other insurance policies will get you a discount in premium. Insurers offer a multi-policy discount to encourage you to buy other policies from them.
However, all the amount you may save may still pale into significance if compared with savings you will make by buying your policies from different insurance companies.
3. You will spend far less and lower your costs if you buy your prescriptions online. Buying by telephone will also get you affordable prices. The internet reduces the cost of doing business and pharmaceutical companies or groups who sell their drugs online do so at lower rates. But to ensure you're buying from the right company, check. It is very easy to do this by making use of a resource like BBB. Always remember that while we want to save costs we also want to avoid risks. Checking with BBB online and other such services will put you on the safe side while you buy at cheaper rates online.
4. Electronic Funds Transfer, known as EFT is a painless way to bring down your rate. This process authorizes your bank to credit your insurance provider with your premiums automatically until you stipulate to the contrary. This saves your insurer in many ways such as removing the cost of sending payment notices and the expense of processing checks. This is why this gets you discounts.
5. Did you know that your co-pay could be more expensive than the cost of your drugs? It may also be cheaper for you to buy a prescription from your purse (without using insurance). In those instances, you will spend less by taking the options that offer you more savings.
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Chimezirim Odimba writes on insurance.
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