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Personal Health Insurance - 3 Tips That Might Make Personal Health Insurance Affordable

Personal health insurance is a necessary expense, especially in the event that you have an illness or injury that requires long term care. The problem with personal health insurance these days is that it’s so expensive that many people simply can’t afford it.

Recent statistics show that a large part of personal bankruptcy in the United States is caused by excessive medical bills. If a person can’t afford to pay for personal health insurance in the first place, how in the world can they be expected to pay for long term hospitalization costs? There are a few options that a person could take in order to make their medical insurance less expensive. Here are a few ideas.

#1. Raise your deductible to the maximum - I realize that this will create more out of pocket expenses, however, your main goal is to have coverage in the event of major medical needs, so by raising your deductible you could easily cut your premium by 30-50% and, therefore, make owning a policy affordable. The secret to making this work is to put away an additional $20-25.00 each month for those rare occasions where you must see a doctor. $25.00 per month adds up to $300.00 per year and should be sufficient enough to cover a doctor visit (or two) for things like colds, flu, ect. Also, get your flu shots each year. Those people that tell you it “gives you” the flu are full of it. It’s a dead virus, so how’s it suppose to give you the flu. Anyway, get over it quick, get the shot and save money later.

#2. Get a policy with minimum coverage - I realize that this isn’t preferable, but if you’re trying to add personal health insurance protection into your budget, you’ll need to cut corners wherever you can.

#3. Buy a discount plan - These plans are not insurance. They have a flat fee for each medical procedure that you must pay out of pocket when you see your doctor. However, the savings can be quite large, especially on hospital costs. Also, because these are not personal health insurance, they don’t fall under insurance regulations. This means that if you are uninsurable for any reason you should be able to get a discount plan.

These are just a few ideas that you can work with. It’s impossible to give professional advice without knowing you, knowing your budget, your needs, ect.

Joe Stewart Is A Former Life & Health Insurance Agent. He’s Made Understanding Health Insurance Easy For Consumers. You Can Learn More About Health Insurance And Get Free Health Insurance Quotes For Individual And Family At His Website TheHealthInsuranceGuys.org or by clicking on Personal Health Insurance

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