5 Ways To Save On Health Insurance
Health insurance companies don’t have year-end clearance sales. There are no coupons
in Sunday’s paper to save money on your premiums. But there are a few simple
things you can do to make your insurance more affordable.
Make Sure Your Records Are In Order
This is important, especially if you’ve changed doctors. Incomplete medical records
can slow down the approval process, leave you stuck with higher premiums, or get your application
rejected entirely.
You should give your insurance company the whole story about your
medical history. That means
contacting all the doctors you’ve seen, and tell them to expect to hear from your insurance
company.
Use An Agent
Applying for insurance can be complicated. Even a tiny oversight can mean a big hike in premiums.
A good agent knows how to make sure every detail of the application is taken care of. And they
know where to look for the best rates.
More importantly, agents can provide advice and insight into your options. And they can answer
your insurance questions — so don’t be afraid to ask away.
Shop Around
Agents represent different carriers. Some agents work with several, while others work with
just one. The quotes you get can be very different. So talking to several agents before you
apply is a good idea.
The important word here is “before.” Applying for insurance shows up in your medical
record (yes, you have a medical record — just like you have a credit report). Too many
applications makes you look desperate for insurance, and that's a red flag for the insurance
company. So before you apply, talk to several agents. When you find the one with a policy that
works for you, that’s the time to apply.
Give Up Bad Habits
You knew this was coming, right? Smoking, drinking, eating fatty foods — all these bad
habits cause health problems. And when you have health problems, you pay more for insurance.
So give them up. No, it isn’t always easy. But you’ll be better off for it.
There’s a flip-side to this: pick up some good habits. Get outside and exercise. Take
your vitamins. Eat your vegetables. And see a doctor regularly. People with good habits tend
to live longer, have fewer health problems, and pay less in monthly insurance premiums.
Get Tax Credit For Your Medical Expenses
Whenever you pay for medical care, you should keep track of it. The Internal Revenue Service
allows you to get credit at tax-time for many of your out-of-pocket expenses.
Expenses you can deduct from your Federal tax return include:
In some instances, you can even deduct the cost of your insurance premiums. Talk to a tax
professional to learn more.
To talk to insurance agents in your area, get free quotes today. We’ll match you with
an insurance professional, so you can start shopping and comparing plans.
