Health insurance costs are a hot-button topic right now. The problem is being debated at the highest levels of government and it's possible that someday a solution to this problem will be reached. In the meantime it is up to each and every one of us to do whatever is necessary to find ways of reducing the cost of our health care insurance on our own.
Fortunately there are ways for you to reduce your health insurance costs and we're going to explore a few of them here.
If you're really serious about reducing your cost of health insurance then we need to start with your lifestyle. Do you smoke? Do you use chew or any other tobacco product? If so, then you are not helping your cause. Tobacco users pay 30% to 50% more for health insurance than non-smokers.
If you smoked when you took out a health insurance policy but you have since quit it is important that you let your insurance agent know this as it can trigger a reduction in your monthly premium payment.
What's your weight like? Being overweight also increases the cost of health insurance. Losing weight is more difficult than quitting smoking for most Americans, but the good news is that if you can lose even a few pounds you may move down one rung on the insurance company's weight chart and that could potentially save you hundreds of dollars every single year.
If you regularly participate in any type of extreme or dangerous sport or hobby then you will not get the best rates on health insurance in Alabama or any other state. The same goes for driving a fast sports car or driving most muscle cars.
Anything you do that puts your life or health at risk is going to increase your health insurance premium.
Buying group health insurance can save you a lot of money. If your work-place does not offer group health insurance then ask around at all of the clubs, organizations or groups that you belong to. A surprising number offer group health insurance to their members. Ask your friends if any group, club or organizations that they belong to offers group health insurance. If so, consider joining.
Ask at your place or worship. Many church groups offer discount health insurance to their members.
Use credit cards wisely. Believe it or not, your credit report affects how much you pay for your health insurance. The healthier your credit score the less you'll pay for your health insurance.
When was the last time you checked your co-pay percentage? Many people start out paying 20% or 25% as a co-payment when they visit their doctor's office. If you can afford to increase your co-pay to 50% you will save a tremendous amount every month on your health premium. This tactic works best for people who do not see their doctor on a regular basis.
Can you afford to increase your deductible? This is a serious question and you should give it some real thought. The higher your deductible the lower your monthly health insurance premium - but by the same token, the higher your deductible the more money you have to pay out of your own pocket or purse each year before you can ask your insurance company to help you out. Don't offer to pay more than you can comfortably afford.
Finally it's time to go online and find at least three of the websites designed to let you compare prices on health insurance policies from different insurance companies.
You'll have to fill out the form on at least 3 websites if you want to be sure of seeing the prices from every insurance company in Alabama and you have to be careful to enter the exact same information on each form so that you are comparing the same policy each time, but once you are finished all you need to do is to find the company with the best rate and your job is done!
Let's hope you're not among that 16%. With any luck we'll find ways in this article for you to lower the cost of your health insurance to the point where it no longer makes you sick just to pay your monthly premium.
Eating healthy and developing a healthy lifestyle should be one of your first goals. The fewer times you have to see a doctor each year the less you'll pay for health care. Cut out fried foods, cut fast food down to no more than once or twice a week.
Get at least a little exercise. Walk around the block or join a group that walks in the Mall every morning. Ride a bike or swim half a dozen laps every day. Some exercise is better than no exercise and will help to keep you out of your doctor's office.
Speaking of doctor's offices, can you afford to increase your co-payment to 50%? If you can this will save you money each month on your premium. Increasing your co-pay is an especially good idea for people who do not see their doctor on a regular basis.
Don't smoke and don't use chew. You already know the facts. If you smoke or use chew you will pay more for your health insurance than you will if you don't. If you're truly serious about getting the best rates on health insurance in West Virginia then you'll stop smoking.
The same goes for your weight. Insurance companies use what they call a Body Mass Index (or BMI) to help determine how much of a premium you'll pay for your health insurance. The good news is that if you can shed even a few pounds you might drop down on your insurance company's BMI scale. If you can drop down even one or two notches it could potentially save you hundreds of dollars a year.
Can you find a group health insurance plan you can join? If one isn't offered through your work try checking with any organizations or associations or clubs that you or anyone you know belongs to. Lots of clubs and organizations offer their members low-cost group health insurance.
If you have a home-based business it's possible you can qualify for group rates no matter how small your business is. But in any event you should ask your tax advisor if there is any way to make your premium payments at least partly tax deductible. A tax deduction could make your health insurance much more affordable.
Pay your premium automatically from your checking account. If your insurance company does not have to bill you every month there is a small savings to you.
Don't take part in any organized extreme sports and don't drive a fast sports car.
Review your deductible. If you can afford to increase your deductible then you'll pay less each month for your health insurance. But don't increase your deductible any more than you can honestly afford to pay.
Finally, buy your health insurance online. Don't make the mistake of just looking at the results of one health insurance price comparison website. If you really want to find the lowest health insurance rate available in West Virginia then you'll need to take the extra time to make price comparisons on a minimum of 3 different websites.
Also, it is important that you enter the same information into the form on all 3 websites so you are comparing the same health insurance policy each time.
But once you've taken the time to make comparisons on 3 different sites then your work is done. Just look at the results and choose the lowest-priced policy. This is really all you need to do in order to get the best rates on health insurance in West Virginia.