Lowering the health insurance premium – Artifice
What are we supposed to do if we want to lower the cost of any kind of insurance policy? We will have to shop for the same and in addition try to make a larger deductible amount. If you simply increase the deductible amount you may easily be able to lower the cost of the health insurance premiums.
Furthermore, you need to be aware of what your requirements are. This is going to help you in buying the right kind of policy.
Tactics to follow in order to lower the premium
The following are some of the tactics which can help you lower your health insurance premiums:
- Find out health insurance carriers that offer integrated benefits – Empie-Iozzo says “An integrated approach to care works to help members become healthier, while lowering costs for both employees and employers.”
- Check newer plans – If you already have a health insurance policy for our family and yourself, you will have to maintain a constant check on newer policies. Newer policies are introduced every now and then and so it is important for you to keep a check on that and change the insurance carrier if required.
- Shop around before buying a health plan – It is extremely important for you to shop around before you choose a particular policy for yourself and your family. Just as you are required to shop for a mortgage or any other kind of loan, in case of health insurance too, you need to sue the same strategy. Otherwise, it may never be possible for you to obtain the low cost health plan.
- Change the coinsurance ratio – The coinsurance ratio is the amount which you are required to pay after the deductible requirement is met. in general, the ratio remains in the range of 80/20. Here the health insurance carrier is supposed to pay 80% and you the 20% with regards to the total medical expenses which is going to exceed the deductible amount.
All of the above strategies can help you in getting the premium amount lowered, with regards to your health insurance policy.