Due to inflation and the global economic crisis, it has become an absolute necessity that everyone live on a budget. It therefore comes as no surprise that a person shop for cost effective insurance plans and that includes health insurance. Health insurance is a must for anyone and especially if you have children, but having one does not mean you have to bankrupt yourself. Hopefully you can save a pound or two by following the below 5 ways to save on your health insurance tips.
REVIEW YOUR HEALTH INSURANCE PLAN ANNUALLY:
Health insurance needs change every single year, and if one does not give themselves time to renew their plan at the beginning of each year, you might find yourself paying for health cover you do not need.
COMPARE HEALTH INSURANCES:
Its advisable to not sign up with the first health insurance that comes your way. Just because they give you better premiums does not necessarily mean they will give the best cover for you and your family. The thumb rule is not to compromise on good quality health insurance benefits just because you want to pay less, but rather pay less and still get good health benefits.
DON’T LET YOUR HEALTH INSURANCE PAY FOR MEDICINE THAT YOU CAN AFFORD TO PAY CASH:
Most people don’t know this, but your medication costs more if you put them on your health insurance than if you purchase them. Try to purchase over the counter medication as opposed to placing them on your health insurance, that way you will pay less.
Believe it or not the healthier you keep yourself, the fewer times you need to use your health insurance and the more you will save on it. People who are taking chronic medication for conditions that they can eliminate by staying healthy obviously pay more on their health insurance. An example is medication for Diabetes and Hypertension etc.
Its no secret that some companies don’t make contributions towards their employees health insurance. If you cannot negotiate a 50% contribution from your employer towards your health insurance plan, then negotiate for a lower percentage, but the employer should contribute a certain percentage towards employees health insurance, and this is especially important if its company policy for an employee to be on health insurance.
An important point to remember is that saving on your health insurance plan will depend on the plan you have chosen, how many family members are on your health care insurance plan, and whether or not you have any members who require chronic medication.