Health Insurance Price Quote – Why Paying Lower Monthly Premiums May Actually Be Bad For Your Health

Have you been scouring the ends of the earth, on the hunt for a reasonable health insurance price quote lately? If you have, then you no doubt have discovered that health insurance can be best described with two words: necessary evil.

Health insurance premiums have skyrocketed in recent times. But so has the cost of health care in general. If you think health insurance premiums are unreasonable, just imagine how through-the-roof health care is without it!

Nobody in their right mind wants to pay for health insurance It’s just one of those things in life that you have to have, unless you are either in the top earning income brackets and can afford to pay for health care in cash, or if you are one of the rare breed of people who rarely ever gets sick.

When shopping around for the best health insurance price quote, there is one very import thing to keep in mind:

A lower monthly premium isn’t always the best deal. If budgetary constraints prevent you from paying a higher monthly premium, you should consider the hidden costs associated with a lower monthly premium, such as higher deductibles, less maternity coverage, and less prescription drug coverage.

Lower monthly premiums work best for those people who rarely ever go to the doctor. You pay less for your health coverage. But the trade off is that you have a higher deductible, which you only pay only if you need medical care.

Higher monthly premiums work best for those who take prescription drugs or who require frequent medical attention. You pay a higher monthly premium as a fixed cost, which actually helps you to budget your medical expenses better. And your annual deductible is lower, or in some cases, nonexistent.

What should you look for when shopping around for health insurance quotes online? Is it enough to just look for the lowest monthly premium? Sure, who doesn’t want to save money every month?

But that is a deceptively simplistic approach to choosing the best health insurance plan. You may be saving money on your monthly premiums, but a lower premium usually equates with higher deductibles. Why is that a problem? Deductibles are a variable expense. If your annual deductible is, let’s say $2,000, that means that you need to be prepared to pay that much directly to your medical provider or your pharmacy over the course of one year. This usually works best for people who don’t require regular medication or medical attention.

Higher monthly premiums work best for people who need to visit the doctor frequently or who may be taking prescription drugs on a regular basis. You can avoid the variable costs of deductibles by just paying a flat monthly rate to your health insurance provider.

But no matter which way you go, the sad reality is that somebody is going to take your money, whether it is the health insurance company or whether it is your medical providers.

Health Insurance Quote – 10 Ways to Reduce Your Cost for Healthcare

After home and living expenses such as rent or a mortgage, for a good number of American families healthcare can be the next greatest expenditure, and for many a big part of that overall healthcare cost can be their health insurance premium. However, according to financial experts, when it comes to preparing your family’s budget, there are ways to reduce both your health insurance cost, and what you pay for healthcare in general. Whether you are shopping for the first time for health insurance, or are looking for a new plan to reduce your monthly payments, here are 10 suggestions that can lead to a lower health insurance quote, and more affordable healthcare:

1. Stop Smoking – Depending on where you live you can save over $200.00 a month on the costs of cigarettes alone. As far as a health insurance quotes goes, non-smokers always pay significantly less than smokers for any policy. According to a recent study, even though smokers generally have a shorter lifespan than non-smokers, they pay a third more in overall healthcare than non-smokers throughout their lifetime.

2. Reduce Weight – Again weight plays a significant factor when getting a health insurance quote, it’s a fact that if you are overweight you will pay more. Obesity is becoming one of the greatest drains on our healthcare system. According to a recent study by the Rand Corporation, being obese adds $395 each year to your average per-year health care costs, more than smoking (an addition of $230), aging 20 years ($225), and problem drinking ($150).

3. Get More Exercise – While it may be hard to put a quantitative amount on how much you can save on a health insurance quote by exercising and getting in shape – regular exercise will not only reduce weight (see above) but can also improve cardio-vascular health and reduce other risk factors that lead to higher costs for health insurance and medical care.

4. Select a Higher Deductible – A higher deductible and higher co-pay will surely result in a lower health insurance quote, and may qualify you for a Health Savings Account (HSA) which can help defray the costs of the higher deductible.

5. Read and be Sure you Understand your Health Plan – you would be surprised at how many consumers pay more for healthcare simply because the do not know the details of their own heath insurance plan.

6. “Cheaper” isn’t always more “Affordable” – When it comes to a health insurance quote you must pick a plan that is right for you and your lifestyle. Cheaper doesn’t always mean more affordable in the long run. If you go for a health insurance quote with a smaller monthly premium, but if you have health problems and must make many doctors visits the high deductible or higher co-pay may cost you more in the long run. Choose a plan that is right for you.

7. Consolidate Your Health Plans -if you and your spouse both have separate health plans you may save money by consolidating under a single plan.

8. Be Proactive – and you can save money. For example know before you need them what if any ambulance services in your area are covered by your insurance, and when and if your regular physician is available after hours.

9. Be willing to Negotiate with Your Doctor – most physicians will offer reduced or discounted rates to patients with no or limited insurance.

10. Reduce the costs of Prescription Drugs – if you have heath insurance with prescription drug coverage, take advantage of the “lower tier” by asking your doctor to prescribe generic drugs, even if you do not have prescription drug coverage look into the discount programs offered by many drug companies and retail pharmacies.