Affordable Family Insurance – How to Lower Your Rate and Keep Good Coverage

Affordable health insurance coverage is hard to find, but you can do a number of things to make sure you get the best benefits at the lowest price.

Family Size

Are you a single parent?  Do you have a lot of children, or just one or two?  Different insurance companies have different methods of rating for different sized families.  Some insurers rate on a “single, two-party, family” basis, so a family of three pays the same as a family of seven.  Other insurers rate based on how many people are actually covered on the plan, so if you have a family of three, you only pay for three, and if you have a family of seven, you pay for seven.  So, the point is, if you have two kids and are paying for a “family plan” you could be paying less if you moved to a company that offers a “four person plan.”

Lower Your Benefits and Your Premium

There are small things you can do to lower your premium and still have great coverage.

Lower your co-insurance percentage.  If your plan pays 80% after the deductible is met, look at moving to a plan that pays 70%.
Raise your family’s medical deductible.  Take on more risk in the event of a medical problem and pay less each month.
Change to a smaller network.  Your insurer may be charging you more to be on a big doctor network.  Find out if there’s a smaller one that costs less and will still give you access to a good amount of providers and hospitals.
Drop your accident rider.  If you have a supplemental accident rider and you drop it, how much will you save?
Change your out-of-pocket max and/or your lifetime maximum benefit to lower your monthly premiums.

Move to a Catastrophic Major Medical Insurance Plan

The big advantage here is that the monthly savings may easily compensate you after enough time goes by, for taking on the extra amount of risk.

No matter what you decide to do, using the free services of a local agent help you through the details and the application process can help ensure that you end up with the right plan and save a lot of money in the long run. Click here to have an agent in your area contact you and help put your family in a better financial situation.

Leave a Reply