HEALTH INSURANCE

HEALTH INSURANCE

As medical costs continue to rise many individuals and families are interested in less Costly health insurance coverage But choosing less Costly insurance can be tricky Its crucial to understand which discounts are legitimate and which ones may result in inadequate coverage that could lead to outstanding bills and accumulating debt in the case of a medical emergency

When looking to cut costs one of the first questions people ask is why should they bother with health insurance anyway Theyre healthy not prone to chronic conditions and have never needed to invoke the insurance system before so wouldnt the less Costlyest option be to drop their coverage altogether

Health insurance is emergency coverage

Insurance providers often have discretion about whether or not they choose to cover preexisting conditions

If you were to cancel your coverage and then get into an accident even a minor one slip on a patch of icy sidewalk twist an ankle going down the stairs cut yourself while cooking dinner etc you could face steep emergency room bills

Similarly if you are without insurance but develop an ongoing condition diabetes or heart disease for example insurance carriers may refuse to cover you whereas a current provider would be more willing to enhance your coverage to accommodate your changing needs

Even if you dont use your policy frequently maintaining adequate health insurance is a protective measure that doesnt need to cost a mint

Less Costly Health Insurance Tips

There are many ways to lower your health insurance costs including

Raising your deductible you would pay a higher initial cost should you need service

Opting for higher copayments in exchange for lower premiums if you use your insurance infrequently

Dropping unnecessary coverage eliminating pregnancy and prenatal coverage if you will not have children for example

Investigating discounts for your specific career health history or insurance claim history

Investigating discounts for paying premiums in a lump sum instead of monthly

Improving Your Health for Discounts

One of the best ways to get less Costly health insurance is to not need it in the first place Individuals with a healthy past are generally offered lower premiums because they are considered less likely to use expensive services While you may not be able to change your health history you can begin to build a healthier past by adopting a more conscientious lifestyle with certain healthy changes such as

Quit smoking Many insurance carriers offer substantial discounts to nonsmokers

Join a gym Demonstrating a dedication to exercise can lead to insurance discounts

Lose weight Overweight and obese individuals are at a greater risk for many health problems and their insurance rates are generally higher even if they have not demonstrated those problems

Limit alcohol Light to moderate drinking has proven to have some health benefits but excessive alcohol intake is detrimental and can lead to higher health insurance premiums

Take a multivitamin Keeping your body healthy by giving it the minerals and vitamins it needs to function properly is a significant step toward not needing to use your health insurance

Get regular physicals Catching problems early can substantially reduce medical expenses and insurance carriers may offer discounts to individuals who get regular checkups

By adopting a healthier lifestyle not only do you have the opportunity to lower your health insurance premiums but you will be using the policy less and therefore paying fewer health expenses overall

Finding Less Costly Health Insurance

There are many places to find discounted health insurance policies Before buying a particular plan be sure to research that it meets your health needs and price compare against other policies to find the best deal

You never know when you will need insurance Employers Insurance Plans Many employers cover their employee for free and offer discounts for additional family members

SelfEmployed Plans Investigate group plan options through professional organizations and trade associations

Medicaid This statecontrolled plan provides discounted health insurance to lowincome individuals and families State requirements vary so be sure to investigate whether or not you can qualify for the plan

Medicare This federal insurance is offered to individuals over 65 years old as well as disabled individuals Requirements and precise coverage may vary for individual circumstances

Online Insurance Providers These companies can offer discounted rates because they function electronically rather than amassing paperwork and cumbersome office procedures Always check that the provider is licensed to operate in your state and for the type of coverage you seek

Noninsurance options that can help cover medical expenses

Health Savings Accounts These accounts are not insurance coverage but do provide a way for individuals to save for potential and unforeseen health expenses The accounts also provide tax benefits and they roll over from year to year to accumulate larger sums

Flexible Spending Accounts These accounts are a way for individuals to pay for copayments and deductibles from a sheltered account though they are not health insurance Many employers offer these plans and may match contributed funds but be aware that these accounts frequently expire at the end of the year and accumulated funds may be lost FSAs may also be used to save money for prescriptions doctor visits and other healthrelated expenditures

Discount Medical Cards These subscription plans offer members substantial discounts on frequently used services such as prescription drugs eyeglasses allergy shots and dental visits Be wary of excessive administrative or monthly member fees that can raise costs however

Auto Insurance Coverage

InsuranceIf you own a car auto insurance coverage isnt an option By law you must insure vehicles that are titled under your name Read on to find out more about the type of coverage you should have and why you should evaluate your coverage on an annual basis

FIRE INSURANCE
Most homeowners insurance policies and renters insurance policies include fire protection Several insurance companies however offer separate policies to cover additional expenses resulting from a fire
Fire Damage
Fires have the potential to cause minimal damage or to devastate an entire residence Not only can fires destroy a home or apartment but all the contents of the home can be lost in a major fire as well Other related damages can occur from small fires some of which many people do not even think about beforehand
Structures can collapse
Water from firefighters may flood the residence
Explosions may occur if highly combustible materials are reached by the fire
Nearby landscaping may be ruined
Extinguished fires leave more than blackened walls and a lingering smell of smoke Extra fire protection can help pay for all the damage caused by a fire direct or not
Discounts for Fire Protection
Just like auto insurance certain safety features throughout the home may result in less costly insurance rates
Homes and apartments that have smoke detectors throughout the residence are usually eligible for discounted fire protection insurance
Having an alarm system which features fire detection and automatic connection to emergency services or the alarm system company may also yield a nice discount in insurance coverage premiums
Sometimes the home or apartments proximity to a fire station can bring the cost of insurance down If it takes less time for firefighters to arrive on scene they may be able to save the residence
Because some roofing is less liable to burn quickly than other types of roofing certain types of roofing might also cause the cost of the policy to be reduced
Causes of Home Fires
The single largest cause of home fires is unattended food cooking on the stove Other common causes include
Candles and other open flame items being left unattended or getting knocked over
Clothes dryers catching a spark and bursting into flames
Cigarettes smoldering in a flammable trash can or on bedding
Fire experts recommend people take as many precautions as possible to avoid fires Lowering the risk of fires by not leaving cooking candles and cigarettes unattended will help as will making sure that smoke detectors are in place and functioning It is also suggested that families create a fire escape plan in the event of a fire
Fire Protection Beyond Primary Policies
It is important to check with your to find out exactly what your fire protection coverage is Find out what level of protection you have and also ask what sort of deductible you will need to pay in the event of a claim It may be that your current policy is sufficient for your needs but in some cases you will want to add a fire protection rider to your policy
You may also want to ask how much money the insurance company estimates it would take to completely rebuild your home in the event of a devastating fire If the companys numbers are lower than what they should be you need to give them a more accurate number Your monthly premiums may go up in price but it will certainly be worth it if a fire does occur It would be unfortunate to say the least to have insufficient fire coverage and not realize it until after a fire
Not all insurance companies offer fire insurance in every state You should check with your insurance company to find out what sort of coverage they offer If you do decide to purchase fire protection be sure to shop around to get the best policy at the best price