Major Medical Health Insurance Rates

You can reduce your health insurance rates by up to 50% by implementing specific changes to your existing policy and considering some additional available discounts. Your medical insurance premium doesn’t have to be high, so we have listed some ideas (below) that may reduce your rates. Majormedicalhealth.com is the nation’s leader in providing discount ideas on health insurance plans.

Increase your deductible. Often, by raising the deductible from $250 or $500 to $2500 or higher, your rate can easily reduce by hundreds of dollars per month. Of course, you would have a higher out-of-pocket expense if you submit a major claim. But over time, even with an occasional claim, you should come out ahead. Keep in mind that savings will vary, depending on where you live. For example rates in New York and New Jersey will be higher than Pennsylvania rates. And policies with higher premiums will have higher potential savings opportunities. Also…if you know you will be meeting your deductible every year because of an existing condition, you should NEVER raise the deductible.

Delete maternity coverage if you are currently paying extra for the benefit and are certain it will not be used. The savings will likely be thousands of dollars per year. However, if you become pregnant, you will probably not be able to add the rider back to the policy until after the delivery. And of course if you are planning to have children in the future, you may wish to keep the coverage in place. Also, in some states, a “stork program” is available that provides maternity coverage for a predetermined flat fee. Not all hospitals offer this benefit, but if available the cost will be substantially less than adding coverage to an individual plan.

It is possible that your health insurance policy includes maternity benefits as a basic coverage instead of a rider. Thus, you would have to change policies, instead of deleting a rider. This would involve applying for a different policy with the same carrier or possibly applying for coverage through a new company. It is important to never terminate an existing plan until you have been approved for a new contract and completely understand the differences in the old and new plans.

Shop around for health insurance rates at least once every three years. If your premium is increasing every year, there may be available affordable options with other reputable companies that are worth consideration. Naturally, the treatment of pre-existing conditions must always be considered. If you are being treated for a major health condition, you may have to remain with your current company. The Quote box at the top of this page is designed to allow you to view quotes from most of the large insurers.

It’s also important to be certain you are not giving up a valuable benefit. For example, in most states, UnitedHealthOne reduces your deductible each year (subject to limits) if you don’t reach it. If you have built up a few thousand dollars of credits over the years, your savings on a new plan must be even greater to make the change.

Consider a Health Savings Account. If you rarely meet your deductible and providing coverage for catastrophic claims is one of your most important priorities, an HSA may be a viable option. But first, consult an experienced broker, view different options or view some of the HSA content on our website before doing anything. This type of coverage is not suitable if you typically have a large number of non-preventive office visits in the household. And remember…you can take out a high-deductible policy without setting up the Health Savings Account portion. In fact, thousands of consumers do that every year.

Take care of your health! Since health insurance rates largely depend on the health of  you and your family members, do everything you can to eat right, regularly exercise and schedule annual preventive physician visits. Maintain a normal weight and if you smoke…stop! If your employer offers wellness and fitness programs, take advantage of those benefits. They usually don’t cost anything. And many times, it’s easy cash reimbursements in your pocketbook.Staying in good health will put you in a much better bargaining position when you are shopping for new or alternative policies.

If you are paying for student health insurance through a college or university, consider a quote from a major insurer for comparable coverage. While not all student health care plans through schools are necessarily expensive, it is still worth taking 10 minutes to compare rates and especially coverage. You will see a tremendous range in rates from different schools. And often, the lifetime cap on these plans is insufficient. Sometimes it is as low as $50,000.

You can compare student policies from every state on our website. However, we advise that you obtain a copy of the specific details of your university to make sure all requirements are being met. Mental illness, maternity, drug and alcohol rehab/counseling and sports-related injuries are sometimes unexpected requirements.

If your need for health care coverage is temporary (12 months or less), consider purchasing a “short-term” plan. Although pre-existing conditions are not covered, premiums are usually 50% less than many other comprehensive plans, and policies are often approved by the next day. You can cancel coverage at any time, and change to different types of coverage, subject to underwriting approval. Not all carriers offer this policy, but most of the larger companies have many deductible and coinsurance options. The $500, $1,000 and $2,500 choices are most common. And another nice feature is that the number of medical questions is usually less than 10.

Make sure you are purchasing the right type of health care coverage. Many policies may contain benefits that you don’t need or are unlikely to ever use. By deleting these coverages, you could save hundreds of dollars each month. Maternity coverage is a popular example, as previously noted. Many accidental benefit or “enhanced coverage” riders may no longer be cost-effective. But before deleting a rider, it’s important to consider the coverage you may be losing.

Majormedicalhealth.com is committed to offering quality health care at the most affordable prices. By using the Free Quote option, we’re confident you’ll be able to find an affordable plan.