Affordable Individual Health Insurance -- Make Sure You Understand The Following Tips

Are you positive you seriously want cheaper individual health insurance rates? Then you need to spend some time to learn the things you'd have to do to ensure your goal. I've got enough ideas to help most people save over 50% on insurance...

1. There are established brands in the pharmaceutical sector. If you buy name brand drugs, your cost will go up. But did you know that all generic drugs are mandated by law to have the exact same measure of active ingredients as brand name drugs? The inactive ingredients are the only differences between generic drugs and brand names.

The truth then is that you only pay more when you buy a big brand name drug and do NOT get anything extra in value. Notwithstanding, check this with your doctor before making this decision.

2. Electronic Funds Transfer (abbreviated as EFT) is a simple way to bring down your individual health insurance premium. This process authorizes your bank to credit your insurer with your premium payments without any intervention from you until you advise otherwise. This saves your insurer in many ways such as eliminating the cost of sending payment notices and the expense associated with processing checks. This is why this gets you cheaper rates.

3. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance is a good alternative for cheap coverage if you have a pre-existing condition that makes standard individual health insurance hard to get or too expensive.

4. There is a unique type of savings account called the Flexible Spending Account. It's a type of savings account where you can put tax-free dollars for your health care needs. You can also carry over any amount you did not use in a year to the next tax-free. You can build a large reserve of money for your health needs tax-free if you have a Flexible Spending Account.

5. In most cases, your regular medical check ups would not cost you anything extra as most individual health insurance plans wouuld probably include up to two free medical check ups for you annually.

In case you would like to know why this brings about more affordable rates, here it is...

Since ailments are spotted at their early stages by doing such check ups, they are more easily nipped in the bud without spending much. Your insurer in return gives you cheaper rates over time since you take proactive steps to lower their risk.

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