subject: A Few Things to Consider When Buying Health Insurance [print this page] A Few Things to Consider When Buying Health Insurance
Remember that insurance is all about risk. You will automatically pay less for health insurance if you are healthy and take care of yourself because you are less of a risk to the insurance company. A low-risk individual exercise on a regular basis, eats healthy food, and does not smoke. Most insurance companies will automatically give non-smokers a non-smoking discount on their health insurance (and life insurance.)
Keep in mind that you will have to pay portions of some health and medical services out-of-pocket. Most health insurance plans require a deductible or co-payment of some kind each time you see a doctor or visit an urgent care center. You might have to pay $15 to visit your general practitioner for the sniffles or $40 for a trip to the emergency room. Your deductible is the amount of medical costs you pay out-of-pocket before your health insurance company starts paying. So, if your deductible is $500 per year, you will have to pay for the first $500 in medical/health bills before your coverage begins.
It can be hard to select a plan when all plans are different, but every plan seems to narrow down to four things: monthly premium, deductible, maximum out of pocket cost, and prescription drug coverage. It is a good idea to consult with an insurance advisor who can quickly guide you to find the right health insurance plan for you and your family.
In the end, your health insurance goal should be to protect yourself and your family financially in the event of serious health catastrophes. The best way to secure low cost health insurance is to live a healthy lifestyle. Another way to save money on your Personal health insurance each month is to choose a plan with a large deductible so you only need to pay minimal monthly premiums out-of-pocket.
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