Affordable health insurance seems like two words that just don't go together, especially today. Health insurance premiums are now the most expensive thing we pay each month, even more than our mortgages. In fact, if you have a long-term health problem, like diabetes, or if someone in your family has had cancer, your monthly cost could easily be more than what you pay for your house and car together.
It can be a real eye-opener to look for cheap health insurance. If you have always had health insurance through your job, especially if you work for the state or federal government, and now you have to buy your own, you may not be able to afford the same level of coverage.
There is, however, health insurance that is affordable if you know how and where to look.
When you're looking for cheap health insurance, you want the plan with the lowest annual cost that fits your budget. But what's even more important is that you want a company with a good track record of paying on time and not fighting with you over every little thing. Just like there is a car for almost any budget, there is also health insurance that won't break the bank. You might not be able to afford a "Cadillac" policy, but you probably don't need all the extras anyway.
The best and easiest way to find cheap health insurance is to shop for it on the Internet. Here's why, in five points.
- You can change your coverage, deductibles, and payment options with just a few clicks instead of going through the paperwork delay with a local agent (and then finding out he or she made a mistake, which causes more delay).
- If you charge it to your credit card, you won't forget to pay and lose your insurance. Also, you get an extra 30 days before you have to pay. Also, many companies offer an extra discount if you sign up for "auto-pay."
- You don't need a local agent to help you file health insurance claims. It is done for you by the medical provider. You save money because the health insurance company doesn't have to pay the agent a commission, which saves them money. This could save you anywhere from 8% to 12% of your money.
- Health insurance companies have to be very competitive because it is so quick and easy to compare them with their competitors on the internet today. In the past, you would have had to go to eight to ten agents in person to compare the same things. Most people didn't have time or want to do that.
- You can find all of the best health insurance companies on the Internet. Most local agents can only give you quotes from the small number of companies they work for. They might not give you what is best for you financially or in terms of your health, but only what they have.
The key to finding cheap health insurance, though, is to realise that the point of any health insurance is to protect you from a big financial loss, not to keep you from having to pay small amounts for clinic visits and splinter removal. These small costs may be annoying, but they shouldn't hurt you too much. The thing that will break you is the $100,000 heart surgery. That's the kind of financial disaster that health insurance was made to stop.
Also, remember this. As with any insurance, health insurance is a risk. You're taking a chance that you'll get back more than you put in. Your health insurance company is taking a chance that it will have to pay out less. Because of two things, the odds are in their favour. They have all the information for millions of families put together, so they know what the risk is. They also get to decide on the rules and prices. When you raise your deductible, you take on more risk. This is not at all a bad thing. You will probably come out on top in the long run.
Most people are wrong about how easy it is to find affordable health insurance.
By taking on more risk with higher deductibles, spending a little time online comparing eight to ten different companies, and getting rid of coverage you're not likely to need (like maternity care for most people), you can easily find your own cheap health insurance.
