Are You Paying Too Much for Health Insurance?

Posted by: Sally S. | Jan 06,2008

If you pay too much for health insurance, you’re not alone. A number of insurance policies have sprung up in recent years and unwittingly, people have signed up for them- but they’ll probably never use the coverage. There are a number of ways you can save money on your health insurance:

 

If you and your spouse both have employer-sponsored health insurance plans, you only need coverage from one of them. Health insurance policies like these typically offer almost the same coverages, so there’s no benefit to paying for more than one plan.

 

You can compare health insurance prices online to save money. Websites like eHealthInsurance let you compare prices from major health insurance companies like Aetna, Humana, UnitedHealthcare and Blue Cross. 

 

If you have problems with your credit report, this might be resulting in a higher health insurance premium. Insurance companies use your credit score to help determine your rates for health insurance plans. Order a copy of your credit report and credit score and see if any improvements are needed.

 

If you increase your deductibles, you can save money on your health insurance. Insurance agents usually recommend a lower insurance deductible, but that doesn’t mean you have to take it. Increasing your health insurance deductible can mean a significant health insurance savings. 

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