Ways to Save Money on Health Insurance Premiums
We all know that health care costs and health insurance are major subjects of conversation and consideration. In New Jersey health insurance is required! The rising cost of health insurance is a concern for most of us, so here are some ideas for finding ways of saving money on NJ Health Insurance.
Low Premiums Don’t Always Save You Money
When looking for a health insurance plan, the monthly cost is probably the biggest concern. The range of monthly premiums is very wide, and you will undoubtedly want the lowest cost you can find. Low cost doesn’t always mean savings. For instance, you might find a plan for $300 a month, but the deductible could mean a much larger payment out of your pocket if an unexpected illness should arise. Lower monthly premium costs sometimes also mean choosing from different networks of doctors and pharmacies. This could mean out-of-network fees. You should try to balance your monthly premium cost with the size of the deductible.
“Wellness Programs” Sometimes Mean Discounts
Here’s something to consider. Some employers and some plans offer discounts for healthy activities. These can offset the monthly cost of a gym membership, offer policy discounts, or sometimes cash incentives for staying healthy and active. Some plans offer discounts for people who are working to lose weight or to stop smoking. This is a win-win situation where you save money and stay healthy.
Health Savings Account or HSA
There are government policies that can help you save when it comes to health care. A Health Savings Account (HSA) gives you the ability to save pre-tax income, which in turn help s cover co-pays, deductibles and more. Such an account is a “tax-advantaged” savings account. This means you can add your pretax income into the account, and let it grow tax-free. There are requirements and limits for Health Savings Accounts, so you need to quality.
Take A Good Look At Your Medical Bills
Medical billing is rife with error. Simple mistakes can cost you a lot of money. Always ask for itemized bills and take the time to review them. Ask questions, and request a corrected invoice if there is an error.
Talk To An Experienced Insurance Broker
Buying insurance can be complicated and stressful. Brokers or agents like the team at Bogle Agency Insurance have long experience, and are experts relative to policies, federal health insurance mandates, and money-saving possibilities. We can help you navigate the Health Insurance Marketplace, and find the best plan for you, your family or your business. We want you to find the best price, with ample coverage and a reasonable deductible. At Bogle our focus is toward saving money on NJ Health Insurance for our clients. If you are looking for NJ Health Insurance and need professional help give us a call at (201) 939-1076 for a consultation.