Health insurance requirements differ between people and families, but one thing every health insurance consumer has in common is the desire to lower their payments. With rising deductibles and premiums, even those with employer-sponsored health plans are sharing more of the cost of health insurance. But there are ways to minimize your share of the cost. Here we will look at some strategies that can help.
Shop Around with an Agent or an Online Tool
Online health insurance finders are convenient and offer easy access to several health insurance plans. You’ll just need to answer a few questions, and the site gives you the options that suit your needs. The advantage of an online insurance locater is that they can help you find the best coverage and price in a short amount of time, 24 hours a day.
Enlisting the help of an independent insurance agent is another route that can help you save money on your health insurance premium. An independent agent has access to many insurance companies and know the products inside and out. One advantage of using an independent agent over an online tool is if you have any questions or concerns about specific health insurance options, they serve as a trusted professional.
Take Advantage of Special Government Sponsored Programs
The federal government provides subsidized health insurance plans for qualifying individuals and families. Participating in a supported program can help lower your health insurance premium.
The most common programs are Medicare, Medicaid, and the Children’s Health Insurance Plan (CHIP). You must be 65 years old to apply for Medicare coverage, but Medicaid and CHIP programs are based on financial need.
Medicaid and CHIP are available for enrollment at any time throughout the year for qualified individuals.