Friday, October 23, 2009

The "Big Three Myths" of Health Insurance

Myth #2: Health insurance is too expensive to buy on your own.

By identifying your medical needs, you can determine the level of coverage you should have or need. Once you've determined how your health care money should be spent, you can comparison shop for plans from a variety of carriers. Employer sponsored plans can be a pretty good deal for the employee, but the dependents tend to pay much more for that coverage.

For most people, it has become a habit to periodically check on car insurance rates. Medical coverage should be viewed the same way. You have to have it, but why spend more than you need to? By identifying your medical needs, you can decide if a more affordable plan is right for you. It makes sense to save the money you would have spent on high premiums to cover necessary medical expenses until your deductible is reached. If you never have medical expenses, that savings is just money in the bank! As health insurance costs continue to rise, you can save money by spending a few minutes researching rates. You could be in for a surprise if you're overpaying for coverage you don't use.

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