Affordable Individual Health Insurance -- Make Out Time To Read These Savings Tips

Are you sure you seriously want lower individual health insurance rates? If your answer is "Yes" you need to do everything within your reach to learn as many steps as there are to cheaper rates. Here are great tips that will help you lower your rate by as much as 50% if you apply them correctly...

1. The pharmaceutical industry has popular brands. If you buy name brand drugs, your cost will be more. For those who don't know, the law demands that all drugs must have the same active elements whether they are brand names or generic. The inactive ingredients are the only dissimilarities between generic drugs and brand names.

This simply means that what you get from brand name drugs is also what you get from generic drugs of the same specification. Ask your doctor before doing this.

2. An easy but smart way of reducing your individual health insurance premium is by authorizing an EFT (Electronic Funds Transfer). This process authorizes your bank to credit your insurance provider with your premiums automatically until you advise to the contrary. This removes administrative overheads like those incurred when sending payment notices. This is why this gets you cheaper premium.

3. The Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) insurance is a good option for cheap coverage if you have a pre-existing illness that makes standard individual health insurance hard to get or more costly.

4. A Flexible Spending Account is helpful as you look for ways to save. You can save tax-free dollars to cater for your health needs. You can as well roll over any amount you did not use in a year to the next tax-free. This gives you a tax free method of building large reserves of funds to cater for your future health needs.

5. In most cases, your routine medical check ups would not cost you a dime more since your individual health insurance plan wouuld probably include up to two complimentary medical check ups for you each year.

Why do check-ups result in savings?

Treating a disease at its early stage is a lot cheaper than doing so when it is already matured. This means that your health insurance carrier will pay less to take care of you if ailments are spotted early.

So they give you more affordable individual health insurance rates for helping them save.

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