If your’e unemployed or your employer doesn’t provide a health care plan, finding your own health insurance is a necessity–and it can be an alarmingly expensive one. Many people are shocked at the out-of-pocket costs of Individual Health Insurance in Rapid City, SD, but there are ways to lower the expense. Keep reading to learn some smart ways to reduce your health insurance costs, or visit Mountain Plains Insurance to learn more about finding an affordable insurance plan.
Go With an HMO
An HMO (Health Maintenance Organization) plan can be far less costly than a PPO (Preferred Provider Organization) plan. While an HMO will give you fewer options regarding the physicians and hospitals you can visit, the lower price tag can be worth the inconvenience if you’re struggling to afford Individual Health Insurance in Rapid City SD.
Kick The Habit
If you are planning on purchasing Individual Health Insurance in Rapid City, SD, you may want to give up the cigarettes for good. Smokers can have astronomically higher premiums than non-smokers. In fact, an insurance premium for a smoker is typically inflated by 15-20%. Kicking the habit is something that is completely in your control, and it can lower your health insurance rates substantially.
Raise Your Deductible
If you’re relatively healthy, you may want to consider raising your health insurance deductible. A higher deductible will result in instant and significant savings on the monthly costs of your Individual Health Insurance in Rapid City, SD. While this savings strategy is becoming increasingly popular, it can be a complicated issue if you have any medical conditions or a family history of any chronic diseases. Talk to your insurance agent to learn the worst-case out-of-pocket scenario before making any final decisions.
Ask About Discounts
Just like with other types of insurance, some health insurance companies offer discounts to eligible people. If you’re a senior citizen, student or veteran, be sure to ask if you’re able to receive a lower rate on your Individual Health Insurance in Rapid City, SD. Those who are self-employed or work from home may also be eligible to receive special benefits.
Health insurance can be an expensive necessity if you’re forced to purchase an individual policy. Keep the tips above in mind when you’re shopping for health insurance and you may be able to negotiate a more affordable plan.