Guide

Home > Money Guide

How to get Cheap Health Insurance Quotes

No doubt a good insurance policy takes a lot of money out of your pocket. But if you take some precautions, you can find health insurance at reasonable price. In this post, I will provide some useful tips on how to get cheap health insurance quotes.

Do not take the prescription benefit

One of the easiest methods to get cheap health insurance is to exclude the prescription benefit. This means that your health insurance will cover only the generic drugs which are available at very cheap cost. Since most of the prescriptions drugs have their generic alternatives, it should not be a big problem when you fall ill. This type of insurance is more suitable for people who do not fall ill frequently. One can save a lot of money by excluding the prescription benefit. The insurance companies are able to provide discounts on this policy because only the generic drugs are covered in this insurance. The generic drugs in some case are available at a fraction of the cost of prescription drugs.

Compare the different health insurance plans

In order to find cheap health insurance quote, you should compare the plans of different providers. A number of websites are also available for this purpose which can help you analyze the different providers in terms of features and prices. While comparing two different plans, make sure that they are similar in nature. This involves checking the compensation offered by them and the disease and drugs covered under the insurance plan.

Increase the Annual Deductibles

If you do not fall ill frequently, it is advised to increase the amount of annual deductible. It will help you to reduce the monthly premiums that you require to pay for the health insurance.

Get quotes from different providers

There are free insurance quote websites. You can get health insurance quotes from multiple insurance providers there. This can help you to judge the most cost-effective health insurance plan. On the other hand, checking the individual companies one by one can take a lot of time.

Short term health Insurance

In case, you cannot afford to pay much for the health insurance, you can go for the short term health insurance. Though these insurances provide you coverage for shorter duration but the features provided are quite similar to long term plans. The short term plans cover the cost of prescriptions, hospital charges, diagnostic tests and other conditions. These are more suitable for people working on probation or students who do not have much income to pay high premiums for long term health insurance.

Buy a group health insurance policy

If you buy the insurance for any of your family member from the same insurance provider, you can get good discounts. This is referred to as group policy and the insurance providers prefer to sell these plans. This is because it means more business for the insurance company and they need to do the formalities only once for two different individuals.

Kelly is a freelance writer that loves to share financial tips especially on the insurance sector. You can also visit her site on ppi claims if you want to get more information on this.