| HEALTH INSURANCE COSTS TOO MUCH | | | | dollars in case of a fracture, or several thousand |
| You were having a nice day. Then you got a notice | | | | dollars in case of a serious illness can pay deductibles, |
| that your individual health insurance rates had just been | | | | and help you to meet expenses while you're not |
| increased - a lot! You cannot believe that the insurance | | | | working. The sorts of plans are usually inexpensive |
| company expects you to fork over 20 to 40% more | | | | anyway. Some companies will guarantee rates for a |
| for your monthly premium next year. Will you have to | | | | longer period for insurance plans with high deductibles |
| take the drastic risk of going without health insurance? | | | | or specified benefits. |
| Or maybe you're a small business owner who is trying | | | | One other benefit you may reconsider are doctor |
| to do the right thing for your employees. Your agent | | | | copays. Sometimes this option can raise your premium |
| just called to tell you that since one of your employees | | | | by 25%, and if you only go to the doctor twice a year, |
| just had surgery, the rates for everybody in your entire | | | | it really doesn't save you any money. Determine what |
| business would be increased by a double digit | | | | the copay option really covers - just the doctor, or the |
| percentage. You want to do the right thing for your | | | | doctor and lab tests. Many just cover the doctor visits, |
| employees, but this increase might mean you have to | | | | and lab work is extra anyway. |
| lay somebody off or drastically slash everybody's | | | | What if you don't want to cut your benefits? |
| benefits. | | | | If you don't want to cut benefits, consider shopping |
| What can you do? | | | | around. It is so easy to compare insurance companies |
| Of course, the easiest thing you can do to cut your | | | | and get quotes these days. A few minutes in front of |
| premium is to increase your deductible, reduce your | | | | your computer screen should give you a very good |
| benefits, or shoulder a higher copay amount. The less | | | | idea of available options. |
| risk that the health insurance company incurs, the less | | | | When you buy health insurance, you look at price and |
| they will charge you. However once you take that | | | | benefits. When an insurance company looks at you, |
| step, you may not be able to replace your old benefit | | | | they consider your health, age, and even your credit |
| level without incurring additional underwriting. Also, if you | | | | score! Different companies have different standards, |
| do get sick or have a serious accident, you may not | | | | and you may be able to find comparable coverage for |
| have saved any money at all in the long run! | | | | less money. When you do shop, make sure you do |
| Is there an antidote for high health insurance | | | | your research, are aware of pre-existing conditions, |
| premiums? | | | | and consult some qualified agents. Health Insurance |
| Well, of course, I have a couple of suggestions. You | | | | Agents should be aware of different company policies, |
| might consider raising your deductible and adding an | | | | and they should lead you in the right direction. |
| accident and illness indemnity plan. A few thousand | | | | |