Cutting Health Insurance Costs

Surveys of self-employed individuals consistently showrapidly. A plan that you bought more than 2 years old
that one of their major concerns is the ability to buywould not likely represent the best value for you today.
affordable health insurance. One in 4 self-employed4. Use student medical plans and foreign travel plans if
persons has no health insurance today even toughyou qualify. These plans offer better deals than
more than 70% of these people could afford to buytraditional coverage.
high quality health insurance if they had an effective5. Choose a higher deductible. By taking a $1000
buying strategy.deductible, you will save more than $1000 in premium
1. Have a budget and set realistic expectations. Realizepayments over a year's time. This should be an easy
that the purpose of insurance is to cover unexpecteddecision from a mathematical viewpoint, but still many
and otherwise unmanageable expenses. Most goodpeople buy policies with a low deductible. It makes no
plans cover "ordinary and necessary medicalfinancial sense to pay an insurance company $1000 in
expenses" but not your health club membership. Lookpremiums for medical care that you could buy for
for coverage that provides protection but avoid being$600 cash.
drawn in by the marketing sizzle. Do not buy health6. Choose indemnity type coverage and avoid HMOs.
insurance with the primary intention of picking up theThis lets you and the doctor that you choose maintain
cost of your existing ordinary medical expenses likecontrol of your own medical care. This saves money
prescriptions, routine dental care and annual check-ups.in the long run by allowing the best course of
Health plans exist for almost every budget. Remembertreatment from the outset of any medical condition.
that no one is excluded from receiving medical care7. Use the Internet. Technology now allow for online
for an acute condition because of the type of theirpricing and enrollment with policies issued within 24
health insurance plan, but rather medical treatmenthours. Savings have resulted in lower premium prices.
may be denied because they don?t have anySome plans offer premiums as low as $25 per month
insurance coverage at all.for catastrophic coverage for young people.
2. Realize that there are trade-offs in every health8. Avoid the scams. Unfortunately, self-employed
plan. The lowest priced high quality health insuranceindividuals are a prime target market of numerous
plans excluded coverage for pre-existing medicalhealth plan marketing scams. State insurance
conditions and require periodic re-enrollment. It is oftendepartments continuously shut down disreputable plans,
better to take the less expensive insurance any paybut new ones sprout up just as quickly.
for small uncovered expenses yourself. But if youWell-established and reputable health plans are
need to find ?full takeover? coverage, then you cannotobtained from well-established and reputable
expect to be offered the insurer?s lowest rating.distributors. Good health plans do not use multi-level
3. Think short term. Most individual health insurancemarketing schemes. All individuals handling your health
policies for self-employed persons actually stay inplans enrollment should be licensed, bonded and
force less than a year. Buy the plan that offers youinsured. Beware of individuals who claim that they do
the best deal right now and do not worry aboutnot need an insurance license in your state or can not
whether it will be available in a year. In 12 months, aprovide evidence of errors and omission coverage or
whole new generation of health plans will be available.a bond issued by an insurance company. Remember
It would not be smart to keep the same plan for morethe old adage ?if it sounds too good to be true??. This
than two years because new plans are evolvingcertainly applies when shopping for health insurance.