I don’t tend to blog about work (I do that here), but thought I’d make an exception to that rule today. I’m an independent insurance broker serving individuals and small employers in Georgia and South Carolina specializing in health and term life insurance. In an uncertain economic climate, there’s a good chance you can save some money in your family budget by taking a closer look at your health insurance situation. Here are three ways you could save money:
1. The most obvious way you can lower your insurance premium (and here we’re talking about any kind of insurance, health, auto, etc.) is by raising your deductible. Depending on your age, the size of your family, and other variables, you could realize significant savings by taking this one step. If you’re relatively healthy, it’s something you really should consider.
2. Of course you can also compare your current plan with other insurance providers. You might find a similar plan at a more competitive price with another carrier.
3. You might also look to see if there are optional benefits or supplemental policies that you could do without, which would obviously result in a little breathing room in your budget.
4. If you’re covered through your employer, you may be paying a pretty good chunk of change for coverage for your dependents. (You may not, but this is worth checking). If that’s the case, and your family is fairly healthy, you might be able to realize significant savings by dropping them from the group plan and picking up separate individual coverage for them because it’s typically cheaper.
Of course we’d be ready, willing, and able to help you explore these and other options to help you save money and maintain good health insurance coverage. See our website for more info.