A study indicates that less than two out of every ten Americans have health insurance coverage of any type. This is what the American Census Bureau reports. It's vital to stress that group health plans are the reason why most of these few who have health insurance can afford it.
This, regrettably, may soon be a thing of the past as many businesses might soon start withdrawing group health insurance from their employment allowance since they are becoming quite tasking on their businesses. Health care cost is rising and a few of them can simply keep up with the obligation.
The only way left for those who would like to maintain a health insurance coverage is to get individual health insurance. And because it will really cost so much to have individual health insurance, steps to savings on health insurance would be helpful.. Let's see standard ways you can bring down your individual health insurance costs.
1. Smoking will always attract very high rates. Smokers are more liable to die at a tender age and are also more likely to contract many harmful diseases.
It costs insurance companies much more to give health insurance to smokers due to the bad risk they are to them. If you can quit smoking you'll attract rates that are dramatically more affordable when you reapply after twelve months.
2. That extra weight is costing you more in health insurance. Your BMI or Body Mass Index is a very useful factor used to define your risk to an insurer.
The higher a person's Body Mass Index rating, the more expensive their premium will be. The more overweight you are for your height and sex the higher your BMI rating will be. And do not think that you'll get savings only when you lose 50 pounds, just losing a few pounds will get you lower rates once it reduces your BMI rating.
3. The use of tobacco in any form will increase your rates. Individuals who snuff or chew tobacco will also attract higher rates than those who don't
Steering off all tobacco products will attract more affordable health insurance.
4. Paying your premium once a year will get you cheaper rates than choosing monthly payments. Although this alternative is often more convenient, it costs more for some reasons.
There are transaction fees that are incurred when processing a check. For 12 checks (that is, your monthly payments) you will have a total of twelve transactions. This implies that transaction costs would be twelve times more for those who pay monthly.
There are also administrative costs to your insurance provider that are due to monthly payments. For instance, it costs some money to send payment notices each and every month.
These costs plus a profit margin for this "value-added service" is added to your rates making it more than a comparable profile that pays annually every year.
5. Dangerous sports attract higher rates. Therefore quit any sport or activity that is either extreme or risky and you'll get more affordable rates.
6. Take it or not, your driving culture can affect your health insurance rates negatively. If you have many speeding tickets or a record of street racing you'll pay much more. An individual who drives recklessly might make a claim shortly as they are more likely to need medical attention.
You will reduce your rates if you cultivate a good habit behind wheels. Extra powerful automobiles like sports cars and power bikes will attract a more expensive health insurance rate. The plain reason remains that you increase the probability that you'll make claims soon.
7. Those whose professions expose to hazards pay higher rates. Switching to a non-hazardous vocation will reduce your premium by a good margin. If your profession exposes you to toxic substances, for example, your premiums will be much higher than that given to a similar profile who maybe works as a receptionist in a shop.
8. What you're ready to contribute to payments for each time you see your doctor has a bearing on your rate. This is what is called your co-pay for those who don't know already. Your rate will be cheaper if you choose a higher co-pay. If you hardly ever need to see a doctor, you will lower your rate considerable by selecting a high co-pay.
9. You'll pay cheaper rates for a group plan than otherwise. So for persons who have the opportunity to use a group plan, it offers you an opportunity of paying far less than otherwise.. The higher your risk the more you'll save if you use a group plan.
This is also applicable to persons who have health conditions that get very expensive premiums. Consider a group plan if you are after cheaper rates.
This, regrettably, may soon be a thing of the past as many businesses might soon start withdrawing group health insurance from their employment allowance since they are becoming quite tasking on their businesses. Health care cost is rising and a few of them can simply keep up with the obligation.
The only way left for those who would like to maintain a health insurance coverage is to get individual health insurance. And because it will really cost so much to have individual health insurance, steps to savings on health insurance would be helpful.. Let's see standard ways you can bring down your individual health insurance costs.
1. Smoking will always attract very high rates. Smokers are more liable to die at a tender age and are also more likely to contract many harmful diseases.
It costs insurance companies much more to give health insurance to smokers due to the bad risk they are to them. If you can quit smoking you'll attract rates that are dramatically more affordable when you reapply after twelve months.
2. That extra weight is costing you more in health insurance. Your BMI or Body Mass Index is a very useful factor used to define your risk to an insurer.
The higher a person's Body Mass Index rating, the more expensive their premium will be. The more overweight you are for your height and sex the higher your BMI rating will be. And do not think that you'll get savings only when you lose 50 pounds, just losing a few pounds will get you lower rates once it reduces your BMI rating.
3. The use of tobacco in any form will increase your rates. Individuals who snuff or chew tobacco will also attract higher rates than those who don't
Steering off all tobacco products will attract more affordable health insurance.
4. Paying your premium once a year will get you cheaper rates than choosing monthly payments. Although this alternative is often more convenient, it costs more for some reasons.
There are transaction fees that are incurred when processing a check. For 12 checks (that is, your monthly payments) you will have a total of twelve transactions. This implies that transaction costs would be twelve times more for those who pay monthly.
There are also administrative costs to your insurance provider that are due to monthly payments. For instance, it costs some money to send payment notices each and every month.
These costs plus a profit margin for this "value-added service" is added to your rates making it more than a comparable profile that pays annually every year.
5. Dangerous sports attract higher rates. Therefore quit any sport or activity that is either extreme or risky and you'll get more affordable rates.
6. Take it or not, your driving culture can affect your health insurance rates negatively. If you have many speeding tickets or a record of street racing you'll pay much more. An individual who drives recklessly might make a claim shortly as they are more likely to need medical attention.
You will reduce your rates if you cultivate a good habit behind wheels. Extra powerful automobiles like sports cars and power bikes will attract a more expensive health insurance rate. The plain reason remains that you increase the probability that you'll make claims soon.
7. Those whose professions expose to hazards pay higher rates. Switching to a non-hazardous vocation will reduce your premium by a good margin. If your profession exposes you to toxic substances, for example, your premiums will be much higher than that given to a similar profile who maybe works as a receptionist in a shop.
8. What you're ready to contribute to payments for each time you see your doctor has a bearing on your rate. This is what is called your co-pay for those who don't know already. Your rate will be cheaper if you choose a higher co-pay. If you hardly ever need to see a doctor, you will lower your rate considerable by selecting a high co-pay.
9. You'll pay cheaper rates for a group plan than otherwise. So for persons who have the opportunity to use a group plan, it offers you an opportunity of paying far less than otherwise.. The higher your risk the more you'll save if you use a group plan.
This is also applicable to persons who have health conditions that get very expensive premiums. Consider a group plan if you are after cheaper rates.
About the Author:
Learn more here: California health insurance online quote and Colorado family health insurance. Chimezirim Odimba helps people save on insurance.
No comments:
Post a Comment