Affordable Individual Health Insurance -- Ensure You Read These Tips

Do you want more affordable individual health insurance rates? If your answer is "Yes" you must do all within your ability to uncover as many recommendations as as possible for cheaper rates. Here are great ideas that will help you cut down your rate by as much as 50% if you use them right...

1. The pharmaceutical industry has big brands. You'll raise your spend if you go for big brand name drugs. But are you aware that all generic drugs are expected by law to have the exact same percentage of active agents as brand name drugs? The inactive ingredients are the only dissimilarities between generic drugs and brand names.

So by going for brand names you really aren't getting added value in spite of the fact that they cost a lot more. However, consult your doctor before making this decision.

2. A straightforward but effective way of reducing your individual health insurance premium is by authorizing an EFT (Electronic Funds Transfer). By doing this you authorize your insurer to automatically withdraw your payments from your account when due. This reduces an insurer's overhead by removing the necessity of payment notices or checks. This is why this results in more affordable premium.

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

4. There's a special type of savings account called the Flexible Spending Account. This type of account is meant for you to save tax-free dollars mainly for your health needs. The good point about this account is that it permits you to carry over unused funds into the subsequent year tax free. With this account you can eventually have a reasonable amount to take care of your health care needs.

5. Your individual health insurance plan may already offer you up to two free visits to a doctor for preventative health care check ups.

In case you would like to know why this results in more affordable rates, here it is...

Since diseases are spotted at their benign stages by doing such check ups, they are more easily treated without much expense. It costs your insurer less to do this than to treat diseases when they'll cost a lot more.

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