Affordable Individual Health Insurance -- Be Sure To Study These Savings Tips

Are you certain you seriously want cheaper individual health insurance rates? Then you need to take the time to learn the things you'd have to do to ensure your goal. Here are great recommendations that will help you reduce your rate by up to 50% if you use them right...

1. The pharmaceutical industry has popular brands. Drugs that have such brand names are more expensive than comparable drugs and so raise your cost. For those who don't know, the law stipulates that every drug must have the same active ingredients notwithstanding if they are brand names or generic. Where the differences start and end are in their selection of inactive ingredients.

Therefore, by going for brand names you truly aren't getting more value although they cost a lot more. Notwithstanding, check this with your doctor before taking this decision.

2. You'll attract lower individual health insurance premiums if you make your payments by Electronic Funds Transfer (EFT). This authorizes an insurer to automatically withdraw your premiums from your account when due. This removes administrative costs like those involved in mailing payment notices. Your insurance company passes part of what they save to you by offering you lower rates.

3. If in your case it's tough to find a willing private health insurance carrier because of an unfavorable medical history you can go for COBRA insurance. In case you don't know COBRA stands for Consolidated Omnibus Budget Reconciliation Act of 1985.

4. A Flexible Spending Account is helpful as you search for opportunities to reduce your spend. You can save tax-free dollars to take care of your health needs. You can also roll over any amount you didn't use in a year to the next tax-free. This offers you a tax free way of building large reserves of funds to cater for your future health needs.

5. Your individual health insurance plan would likely offer you up to two free visits to a doctor for preventative health care check ups.

In case you would like to know why this leads to lower rates, here it is...

Since ailments are discovered at their early stages by doing these check ups, they are more easily nipped in the bud without spending much. It is cheaper for your insurer to do this than to treat diseases when they'll cost a lot more.

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