Affordable Individual Health Insurance -- Make Out Time To Study These

Do you want to pay less? If answered "Yes" you have to do all within your reach to learn as many tips as as you can find for cheaper rates. Following are several ideas that will help you reduce your rate by up to 50% if you apply them the right way...

1. There are popular name brands in the pharmaceutical industry. Drugs that are well established cost a lot more than comparable drugs and so raise what you spend. But did you know that every generic drug has the same active ingredients as its more established counterpart? Where they are free to have any variation is in the inactive agents.

This simply implies that what you get from brand name drugs is also what you get from generic drugs of the same specification. Ask your doctor about this.

2. A straightforward but effective way of reducing your individual health insurance premium is by authorizing an EFT (Electronic Funds Transfer). This simply means your insurance provider withdraws your premiums automatically from your account at specified periods without mailing you payment notices. This saves your insurer in many ways including eliminating the cost of mailing payment notices and the expense associated with processing checks. Your rate is therefore lowered to reflect the cheaper cost of giving you insurance.

3. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance is a good choice for affordable coverage if you have a pre-existing illness that makes regular individual health insurance hard to get or more costly.

4. If you need to save in health insurance get a Flexible Spending Account. This type of account is meant for you to save tax-free dollars mainly for your health needs. Any money unused could be rolled over into the next year (still tax free). You can build a big reserve of funds for your health care needs tax-free if you open a Flexible Spending Account.

5. In most cases, your regular medical check ups won't cost you anything extra because your individual health insurance plan wouuld likely include up to two free medical check ups for you yearly.

Why does this result in savings?

It it leads to considerable savings because the cost of treating diseases in their benign stages is cheaper than treating full blown ailments. You save your insurer by so doing.

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