It’s a must to avail a health insurance plan for you and family, as medical costs are rising each day. Not having health insurance will burn a hole in your pocket, if you or family members fall sick. Many citizens stop themselves from availing health insurance, thinking that they need to pay high premiums. But, there are several ways which help you reduce premium amounts.
You must take a health insurance plan at a young age, as you can avail it at a lower premium. The premiums you pay on your health insurance are based on the state of your health, age and medical history. When you are young, you most likely enjoy good health. If a person is suffering from pre-existing diseases like diabetes and high blood pressure, he has to pay higher premiums. Not just that, there will be a waiting period of 2 to 4 years for pre-existing diseases. So be smart and avail health insurance at a young age.
You can reduce the premiums on your health insurance plan, by availing them online, as agent charges are eliminated. While buying the health insurance plan, you must compare the plans of various companies, by doing proper research. You must opt for the plan which is best among them.
In case of a family floater plan, two or more people will be covered under the same plan. The cost for an individual will get reduced as many people will be covered under the same plan. So, it is advisable to avail a family floater plan to reduce the premium on the health insurance plan.
If you have not made any claims in the previous year, you get the benefit of an increased sum assured, without paying additional premiums.
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The Co-payment clause in health insurance suggests that the policyholder agrees to pay a part of the hospitalization expenses out of his own pocket and the remaining amount will be covered by the insurer. Co-pay could be voluntary or a compulsory component of the health insurance policy. Opting for co-pay will reduce the premium amount on the health insurance plan. Opt for co-pay, only if you are able to pay your share and not just for lower premiums.
We all know that health insurance plans have to be renewed each year. But, you have an option to choose upfront premiums for two or more years, instead of the usual one a year. Doing so will reduce the premium amounts on a health insurance plan.
These days even young people will be asked to undergo medical check-ups while availing health insurance policies. If you follow a healthy lifestyle with plenty of exercise, some insurers will give you good discounts on the premiums.