How to Reduce the Cost of Your Insurance Health Insurance Rates
Insurance health insurance rates are affected by many factors. One of these is the cost of coverage, which is also determined by various factors such as a person’s health status and his profession. Some insurance companies offer different premiums for men and women. These premiums are usually based on a person’s medical history, his occupation, medical insurance claims history and health conditions. If you want to know how do I choose an insurance agent, here are some helpful suggestions:
o Check the moles on your skin before applying for health insurance plans. Most insurance companies in the United States require people to submit moles on their skin for health insurance purposes. This is because they determine a person’s risk to the insurance company. If an applicant has a lot of moles on his or her body, he or she will be considered high-risk and will have to pay higher insurance premiums.
o Consult with a licensed health insurance agent who can provide assistance on how do I choose an insurance agent and answer questions that you may have. These agents can also advise you on the best insurance plans that offer the lowest premiums. An example of an insurance plan that offers low premiums is the individual deductible family deductible insurance plan. It allows a person to choose a lower deductible so he or she can save money on the premium.
o Find health insurance plans that have good health care provider networks. A health care provider network is a group or network of health care providers that provide medical services under one insurance plan. Most health insurance plans today have one or more health care provider networks. These networks are made up of health care providers that agree to accept a rate offered by an insurance company. To find a provider network, you have to contact different insurance companies that offer health insurance plans in your area.
o Ask questions. There are a lot of insurance companies that are willing to offer health insurance plans. However, you have to know that different insurance companies offer different services so asking questions will help you determine which one is the best and the most suitable for your needs. You should also consider getting referrals from your doctor, nurses and other health care workers that you consulted.
o Understand your coverage. Know your health care coverage options. These include your premiums, copays, the deductible amount, types of covered services, benefits included, copayments, the maximum out-of-pocket maximums and other terms and conditions of your insurance plan.
o Increase your copays. You can increase your copays if you want to. The premium for your primary care coverage can be increased once you reach a certain deductible amount. If you have a high deductible but low monthly premium, you can lower your premiums by increasing your deductible.
o Increase your tier one drug coverage. You can also increase your deductible if you want to. Your premium for the specialist visits, injections, heart bypass surgery, etc can be increased once you reached your family deductible or your annual deductible. Your monthly premium for all other services including the deductible is still the same.
o Increase your prescription drug costs. If you are overweight, smoke, have high cholesterol or are in poor health, insurance companies will consider you to be high risk. Your insurance company will charge you a higher premium for your health care costs because of these factors.
o Increase your health insurance prescription drug costs. Your health insurance premium will increase if you take expensive prescriptions for vitamins, depression drugs, antipsychotic drugs or diabetes drugs. Your premiums will increase even more if you take certain cholesterol-lowering medications. Certain cancer drugs will raise your premiums, as well.
Once you understand and can explain to your insurance company what those factors are, you may be able to lower your insurance rates. You don’t have to keep paying a high insurance premium for your health care coverage. You just have to be aware of how insurance rates are calculated and take action to lower them.