Affordable Individual Health Insurance -- Make Out Time To Study This

Do you want cheaper individual health insurance rates? Then you have to commit some time to learn the things you'd have to do to ensure your goal. Here are a good number of tips that will help you lower your rate by as much as 50% if you apply them right...

1. There are popular brands in the pharmaceutical industry. If you buy such drugs, your cost will go up. But did you know that every generic drug has the same active ingredients as its more established counterpart? Where the dissimilarities start and end are in their choice of inactive agents.

Therefore, by going for brand names you surely aren't enjoying added value even though you are paying a lot more. Ask your doctor before doing this.

2. A straightforward but effective way of reducing your individual health insurance rate is by authorizing an EFT (Electronic Funds Transfer). This authorizes an insurance carrier to automatically withdraw your payments from your account at specified intervals. This removes administrative overheads like those involved in mailing payment notices. Your premium is therefore reduced to reflect the cheaper cost of providing insurance to you.

3. If you find it hard to find a willing private health insurance provider due to pre-existing disease you can make use of COBRA insurance. In case you don't know COBRA stands for Consolidated Omnibus Budget Reconciliation Act of 1985.

4. If you need to spend less on health insurance then you have a good opportunity in a Flexible Spending Account. This type of account allows you to put away tax-free dollars mainly for your health needs. You can also carry over any money you didn't use in a year to the next tax-free. With this account you can actually build up a considerable amount to take care of your health needs.

5. The greater number of individual health insurance plans give about two complimentary medical check ups.

Why does this result in savings?

Treating a health condition at its early stage is a lot cheaper than doing so when it's already full-blown. Your insurer in return gives you cheaper rates over time since you take reasonable steps to reduce their risk.

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