Affordable Individual Health Insurance -- Be Sure To Understand The Following Tips

Are you sure you seriously want more affordable individual health insurance rates? If your answer is "Yes" you must do all within your reach to discover as many ways as there are to cheaper rates. Here are proven tips that will help you lower your rate by as much as 50% if you apply them the right way...

1. There are established name brands in the pharmaceutical niche. If you buy such medicines, your cost will be more. But did you know that every generic drug has the same active agents as its popular contemporary? Where they can have any dissimilarity is in the inactive agents.

This simply means that what you receive in brand name drugs is the same thing you get from generic drugs of the same specification. Nevertheless, check this with your doctor before making this decision.

2. A straightforward but effective way of lowering your individual health insurance premium is by authorizing an EFT (Electronic Funds Transfer). By doing this you authorize your insurance carrier to automatically withdraw your premiums from your account at specified intervals. This reduces costs by removing the need for payment notices or checks. This is why this gets you more affordable rates.

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

4. If you need to save in health insurance get a Flexible Spending Account. It is a type of savings account where you can put tax-free dollars for your health care needs. The good point about this account is that it allows you to roll over the amount unused into the subsequent year tax free. This offers you a tax free way of building considerable reserves of funds to cater for your future health needs.

5. In the majority of cases, your regular medical check ups would not cost you a dime more because most individual health insurance plans wouuld probably include up to two complimentary medical check ups for you annually.

In case you want to know why this leads to more affordable rates, here it is...

Since health conditions are diagnosed at their mild stages by doing these check ups, they are more easily nipped in the bud without much expense. This means that your health insurance provider will spend less to treat you if diseases are diagnosed at their early stages.

Therefore, they give you cheaper individual health insurance rates for reducing the cost for your treatment.

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