Health Insurance Articles
Three Ways To Keep A Health Insurance Premium Stable
2010-07-08
Large premium hikes are not uncommon to see in health insurance. Many have seen their premiums raise 10-20% within the last year. Health insurance companies have to do this because they have to consider the rate of inflation as well as their bottom line. It is very unusual to see an insurance company that maintains a stable premium year after year.
There is so much competition in the health insurance industry and it is unlikely that they want to keep raising premiums because they can lose customers to a competitor. It is their priority to have stable premiums so that they can retain their loyal customers. However, rate increases cannot be avoided by most insurance companies who want to stay in business. Yet, there are still ways for you to protect yourself and maintain your stable premium.
The first thing you should do in order to maintain your stable premium is to preserve your health. By having a healthy lifestyle and diet as well as exercising regularly you can keep your health insurance premiums down. It is simple, the more weight you have, the less healthy you are and the more your premiums will increase. Many diseases such as cancer and diabetes can be prevented with a healthy lifestyle. Let's face it, many insurance companies raise their premiums because they choose to cover those individuals who are considered "risks" and the costs are then spread out among its membership. Do your part in keeping your risk factors down.
Another great way to maintain your stable premium is to ask your insurance company for a better deal. Keep your family's health records of how many times you have been to the doctor, what services you have used and so forth. Insurance companies have plans that they do not often advertise and perhaps you can be placed into one of these plan so that you can keep your health insurance premiums stable. It is somewhat like dealing with your cable company. They offer you an introductory rate and then six months later, there is a rate increase. More often than not, if you call the cable company and ask them for a lower package, you can often be placed into one.
The third choice in keeping your stable premium is to ask for a higher deductible. Your health insurance deductible works just like your car insurance deductible. It is the amount you are expected to pay towards your medical bills. As with car insurance, a higher deductible means a lower premium. Choose a deductible that you and your family can save in a Health Savings Account (HSA) for future use. These are some very important and practical ways to keep your premium stable.
