Little Known Way To Reduce Health Insurance Cost
One of the questions we get is can I save money on my premium if I use a different address
, say a second home. That's a great question and the answer is yes, maybe you can.The way health insurance premiums are determined is that they are based on the zip code you're in, which reflects the medical cost in that local area. It's based on your age, your gender, your health status and it is also based on which state you're in. The reason that matters is that some states have a lot more regulations that drive up the cost of health insurance than others do. For instance, people in a lot of the northeastern states, Massachusetts and New Jersey and states like that face exceedingly high health insurance premiums. However, if somebody lives there half a year and in Florida half a year, they can save a lot of money by buying their health insurance in the other state.
So what you want to do when you're doing some comparison shopping is put in these different zip codes and see what comes out best. With some insurance companies, it will make a difference who you enter as the primary insured so you may try yourself first and then try your spouse and see if that makes a difference. Typically, it won't, but sometimes, it will. Also, some insurance companies will charge an additional premium for each child you add while others will charge just the set amount for a family rate. So those are all things to consider as you're looking at different companies and perhaps looking at different zip codes that you might be able to use. There are a lot of web sites where you can look at instant quotes. My one caution to you there is make sure that you're actually going to get instant quotes and not just have your information be sent to ten or twelve different insurance agents who will want to call you and sell you a plan. Do your own research first and get an idea of what looks good for you and then talk to an adviser who can help you narrow down your choices and make a wise decision.
For more information on how to make the most of your Health Savings Account go to www.HSA-Resources.com. There you will also find information about how to open a Health Savings Account, about how health care reform will affect your HSA and why you should take advantage of the opportunity to own a Health Savings Account now.
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