Now, while buying a health insurance policy, you should consider having a look at the rates, coverage, compare different policies, and check the credibility of companies involved. Surprisingly, you will find dramatically different rates offered by different companies for the same type of coverage!
It goes without saying that you should have a good healthcare coverage if you are a resident of California. If you don’t,
you will end up paying all the cost of your healthcare needs out of your own pocket. Though this is true for all other states also, but because there are very good options for health insurance in California, you should not evade buying it.
Now, while buying a health insurance policy, you should consider having a look at the rates, coverage, compare different policies, and check the credibility of companies involved. Surprisingly, you will find dramatically different rates offered by different companies for the same type of coverage!
Now, while searching for health insurance policies, you might also like to note some points that can help you save premium rates and avail cheap health insurance policies. Below are some points that you can consider.
1. Unlike other states, the cost of group health insurance is more in California. So, you should look to buy individual health insurance policy instead of going for a group health insurance. This is a major shift from conventional advice where group health insurance is considered to be cheaper. However, some businesses offer to pay major percentage of premiums, even if not the full value; so, in this case, you can go for group health insurance. If you and your family enjoy good health and if you do not have a pre-existing medical condition, you should seriously think of buying an individual health insurance plan.
2. Opening an account with Health Savings Account (HSA) is a good option for residents of California. This helps you in reducing the premium cost while still being able to have major medical coverage. An account with HSA allows you to deposit money that grows tax-free until you withdraw the funds to pay for your healthcare needs.
3. Unlike life insurance, health insurance policies are subjected to change annually. It makes good sense to re-evaluate your health insurance policy just to make sure if you have any other good option. This could mean that you are being offered lower premiums, better coverage or being spared from some limitations that are imposed in your current policy.
4. Consider having a health insurance plan that has higher deductibles. This would mean that your out-of-the-pocket expense would be more but you will be saving a lot on your monthly premium. So, over a long period, the compensation will bring savings for you.
5. Try to work with an insurance agent that offers health insurance policies from more than one company. This allows you to make better choices and also eliminate an ulterior motive of the insurance agent to sell his company’s policy whether it suits your needs or not.
Aetna, Anthem Blue Cross, Assurant, Blue Shield, Celtic, Cigna, Healthnet, IAC, Kaiser Permanente, PacifiCare, and Solera Dental are some of the health insurance companies offering policies to the residents of California. Shop around and pick up the most suited policy.
