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If youíre the type of person that tries to save money on your health supplies, it only makes sense that you would be interested in ways that can save you money on your insurance. If youíve been paying attention to the news, you know that there are trends taking place that are saving people hundreds. If you havenít been keeping up with the latest insurance news, hereís what you need to know:
Thereís a growing trend around the country that has employers offering health incentives as part of their benefits package. Incentives offered by employers vary, but typically are in the form of bonuses or discounted medical insurance premiums. If you are employed, find out if your employer offers these types of incentives. If they donít, consider doing a bit of research and presenting your boss with information on how health incentives can benefit the company as a whole.
Make Correct Claims
There are disability insurance pros and cons, but you may be surprised to know that many of the issues that consumers have with this type of insurance arises because of consumers themselves. If you have made a disability claim, be sure to read over the insurance companyís response carefully. Even if youíve been awarded a sum of money, you may not have received all that you were entitled to. Any errors that you made on your original claim could have cost you money; the good news is that you have the ability to correct them.
Raise Your Deductibles
If you are young and relatively healthy, consider raising your coverage deductibles. The more you are willing to pay out of pocket, the less the insurance company will charge you to carry their policy. Before you raise your health insurance deductibles, make sure that the amount you agree to pay before your insurance kicks in wonít bankrupt you. For instance, a $5,000 medical bill might be difficult to pay, but still doable. A $50,000 medical bill, on the other hand, can cause you to end up in bankruptcy court.
Drop What You Donít Need
Everyoneís situation is different. Take a good, hard look at your insurance policy documents and see if there are coverages that you can drop. For instance, if you donít have an illness that requires you to take regular medications, you may be able to safely drop your prescription coverage. Many pharmacies offer discounted medications to people who arenít using insurance, making common medications easy to afford. If you donít plan on having children, drop any maternity coverage that youíre paying for. These are just two examples of the coverages that you may be paying for that you simply donít need.
If you follow the latest trends among insurance policy holders, you can realistically save hundreds of dollars each year. By only carrying the coverage that you need, raising your deductibles and making sure that your claims forms are filled out correctly, you can be sure that you are getting the best deal possible on your health insurance.
Carrie Johnson is an avid blogger. You can follow her on Twitter: @johnson121_.
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