5 Beneficial Ways To Save Money On Health Insurance

Health insurance is a must-have for you and your family. Without it, costs for healthcare can be astronomical, even when it comes to routine checkups and prescription medications. But insurance itself can be pretty costly if you are paying for the entire monthly premium out of pocket. Luckily, there are some things you can do to effectively save some money on your premiums, co-pays, and other fees throughout the years. Here are five of the most common methods to consider:
Get Regular Checkups

Simply put, routine checkups will lower your overall risk of having to face high medical bills later down the line. Regular checkups provide the immunizations necessary to ensure that your child does not develop any serious illnesses, which can be quite costly and stressful when all is said and done.

Take Advantage of Special Services

Many health insurance providers offer special services for people with ailments that are ongoing, such as allergies. These services include things like discounts on medication, informational newsletters, and access to free or low cost preventative care. Customer service representatives can point you in the right direction toward the lowest cost medications and home healthcare equipment too.

Carefully Read Your Medical Bills

Errors on medicals bills are more common than you might think. It’s important to read each item on your bill to ensure you understand what the services are that you are being charged for. All it takes for a discrepancy is for an incorrect billing code to be added to your services. You’ll also need to carefully read your policy terms to ensure that your health insurance company is paying everything that it should. If you do find a discrepancy, it is important to contact your provider immediately.

Don’t Be Afraid to Appeal

Just because your service provider refuses to pay a claim does not mean you have to accept their answer. If you think you fairly deserve compensation for medical services rendered, don’t be afraid to make a formal appeal. You can even contact your insurance commission if you are denied a second time, and they will mediate your dispute with your service provider. The work of appealing is well worth it because if you win, you could potentially save yourself hundreds of dollars.

Always Stay Within Your Network

Make sure that the doctors you visit are within your specified network whether near your home or while you’re away. Many doctors make changes to the networks they participate in through the years so a specialty doctor you visited a couple of years ago may not be in your network today. Double-checking your network doctors before making an appointment can save you quite a bit of money, because out-of-network doctor visits are typically not covered in insurance policies.

Overall, it’s important to pay close attention to the specifics within your policy to make sure that you are following all of the rules and regulations of your organization. This will help you to make sure that no unnecessary costs are accrued throughout the years due to the neglect or oversight of any party that is involved.

Four forward-thinking ways to lower life insurance

In a time of tight purse-strings, each and every one of us is looking to lower our monthly outgoings. Life insurance should be no exception: the value of being covered by a policy should be more evident now than ever, but that doesn’t mean you should be sacrificing quality when cutting costs. These four forward-thinking ways will help send you on the path to getting affordable life insurance, leaving more money in your pocket.
Tip #1: Go commission free Commission is how insurance companies cash in on your policy, and this often hidden cost essentially inflates the price of a product. Why not burst their bubble and start getting more for less? Buying through a broker offering commission free life insurance is an easy way to save over the long term. While you’re normally asked to pay a small, initial fee, this will be a one-off, and will work out cheaper compared to a commission-based premium. This way, you’ll have the satisfaction of knowing that your money is getting you the best quality cover available.

Tip #2: Be a cynical shopper While a new cuddly toy may be just the thing you’re looking for, free fountain pens and reduced gym memberships are superficial rewards designed to catch your eye. Although you’ll enjoy these perks initially, chances are you’ll be paying for these in the long run in some way or another, usually in the form of higher premiums. I’m certainly not telling you to say no to a free lunch, but don’t be drawn in by these offers unwittingly. Be insurance-deal detectives and do your research: some companies may be offering the same cover for a cheaper price in the long run, although minus the meerkat.

Tip #3: Set the right term Mapping out your long term financial plans is part and parcel of the search for an insurance policy to suit you. Why take out cover for a 30-year period when you know that in 25 years’ time your outgoings will be greatly reduced? Generally speaking, most people take out life insurance to last until they’ve paid off the mortgage, or until the children leave home. The financial stability following such milestones means that insurance cover may not be such a necessity. Therefore, working out just how long you need to be covered for can be an easy way to ensure unnecessary spending.

Tip #4: Stay on the ball Lifestyle choices affect how insurance companies view you and your risk factor, and so changes for the better could save you a few quid. You may finally give up smoking, lose weight, or even pack in sky-diving; either way, it’s most definitely worth letting your insurer know. They’ll expect you to provide evidence of your changes, so make sure you’re able to do so, but asking for a reconsideration could be a really easy way of curbing costs.

If you’re interested in saving some money, visit Best Price FS, an online commission-free broker specialising in affordable life insurance.

Best Price Financial Services a new, online, direct-to-consumer (non-advised) financial services provider which is focused on providing uncomplicated, value-priced life insurance, income protection and investment products. This article primarily targets ways in which the public can assess their requirements, reduce the prices and select the most appropriate insurance or financial product for their needs and budget. More information about life insurance can be found on the website.