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

Are you positive you seriously want lower individual health insurance rates? If your answer is "Yes" you must do everything within your reach to discover as many steps as there are to cheaper rates. Following are a good number of tips that will help you cut down your rate by up to 50% if you use them correctly...

1. There are established brands in the pharmaceutical industry. If you buy name brand medication, your cost will be more. But did you know that all generic drugs are expected by law to have the exact same percentage of active ingredients as brand name drugs? The inactive agents are the only dissimilarities between generic drugs and brand names.

This simply suggests that what you receive in brand name drugs is also what you get from generic drugs of the same specification. Nevertheless, make sure you ask a doctor you can truly trust about this before you settle for any drug.

2. Electronic Funds Transfer (abbreviated as EFT) is a simple way to reduce your individual health insurance rate. This process authorizes your bank to credit your insurance provider with your premiums automatically until you advise otherwise. This brings down administrative costs like those incurred when mailing payment notices. This is why this attracts lower rates.

3. For those who have a pre-existing condition that makes it difficult or too expensive for them to find private personal health care coverage, the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance could provide a more affordable alternative.

4. There's a special kind of savings account called the Flexible Spending Account. You can put away tax-free dollars to cater for your health needs. Any amount unused could be rolled over into the succeeding year (still tax free). You can build a big reserve of funds for your health care needs tax-free if you have a Flexible Spending Account.

5. The greater number of individual health insurance plans give approximately two free medical check ups.

Why does this result in savings?

Treating an ailment at its early stage is a lot cheaper than doing so when it is already matured. You save your insurer when health conditions are quickly diagnosed.

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