How to Reduce Your Health Insurance Deductible
Most Americans who have health insurance are in plans that have a deductible. If you’re one of them and haven’t heard of it, think flat iron steak. Bottom line? You pay it every time you go to the doctor or get hospital care.
Now, imagine paying $10 every time you go to dinner. It’s easy to see why reducing your insurance deductible is such a big deal. Here are a few things you should know about lowering it. Let’s get into it!
Assure You’re Only Paying for the Coverage You Need
One way to lessen your insurance deductible is to make sure that you’re only paying for the medical care that you need. You don’t want to overpay for those that you won’t use.
For example, if you are a young, healthy adult, you may not need as much coverage as someone who is older or has bad conditions. By customizing your healthcare coverage, you can assure to save money on your monthly premium and deductible.
Take Advantage of Free Preventive Care Benefits
Many healthcare services offer free or reduced-cost preventive care. These things include annual checkups, screenings, and immunizations. Taking the lead in these benefits can help you avoid or delay more costly medical care in the future.
Talking to your doctor about which preventive care services are right for you is a good place to start.
Pay Your Premiums and Deductible With Pre-Tax Dollars
If your employer offers this option, you can use pre-tax dollars from your paycheck to cover the costs of medical care. By doing so, you’ll be responsible for paying more out-of-pocket should you need to file a claim.
Also, it is best to pay your premium on time. If you are late, you may be required to pay a higher deductible.
Consider Multiple Insurers for the Best Rates
Another way to decrease your insurance deductible is to shop around for the best rates. This will greatly help to get the finest deal possible on your premium. Many websites can help you compare rates from different companies.
You can also go here and request a free quote today!
Try to Negotiate With Your Insurance Company
The first thing you should do when you receive your insurance policy is to check the deductible. This is the amount of money that you are responsible for paying before they’ll start to pay for any damages.
If you have a high deductible, you may want to negotiate with your insurance company to lower it. Here are a few tips on how to work out an agreement with them:
- Do your research
- Be firm but polite
- Have a backup plan
- Follow up
If the company isn’t willing to budge on the deductible after compromising, be prepared to offer an alternative solution. This may be difficult, but it’s worth a try.
Take the Edge off Your Insurance Deductible Today
If you’re dreading the thought of forking over a large sum of money for your health insurance deductible, this guide can help to ease the financial burden. Always be certain that you’re getting the best rate by shopping around.
In addition, consider a high-deductible health plan. And finally, be sure to keep your receipts and document any expenses you have.
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