Affordable Individual Health Insurance -- Ensure You Study This

Do you want more affordable individual health insurance rates? Then you need to commit some time to understand the things you'd have to do to achieve your goal. Following are great recommendations that will help you lower your rate by as much as 50% if you use them the right way...

1. The pharmaceutical industry has big brands. You'll raise your spend if you go for big brand name drugs. But did you know that all generic drugs are expected by law to include the same percentage of active agents as brand name drugs? Where the differences start and end are in their selection of inactive ingredients.

Therefore, by buying brand names you really aren't getting more value in spite of the fact that you are paying a lot more. Notwithstanding, discuss this with your doctor before taking this decision.

2. Electronic Funds Transfer (abbreviated as EFT) is a smart way to bring down your individual health insurance rate. By doing this you authorize your insurance provider to automatically withdraw your premiums from your account when due. This removes administrative costs like those involved in mailing payment notices. Your insurance company gives you part of what they save by reducing your premium.

3. If in your case it's tough to locate a standard health insurance carrier due to a health condition you can apply for COBRA insurance. Just by the way COBRA is the abbreviation for Consolidated Omnibus Budget Reconciliation Act of 1985.

4. There's a special kind of savings account known as the Flexible Spending Account. It's a kind of savings account where you can put tax-free dollars 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. With this you can eventually save a substantial amount to meet your health care needs.

5. Your individual health insurance plan may already offer you up to two free visits to a doctor for medical check ups.

Why does this result in savings?

Treating a health condition at its early stage is a lot cheaper than doing so when it's already matured. You reduce the risk to your insurer by so doing.

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