Five Tips for Saving Money on Florida Health Insurance

There’s simply no denying that healthcare is expensive as a whole, and the cost of Florida health insurance only seems to back this up. Although health insurance may be one of the most expensive parts of the budget—sometimes even costing more than the mortgage—there are some ways to save money. Here are five tips to get started: 

Tip #1 – Stay Healthy

This may seem self-explanatory, but very few people actually take it to heart. The truth is that Florida health insurance companies offer lower premiums to those individuals who have the fewest claims. This means that the fewer times a family needs to visit the doctor, the lower the premiums will be. Some of the best ways to stay healthy include quitting smoking, eating a healthy diet, losing excess weight and avoid reckless activity that could result in an injury that requires a doctor’s attention.

Tip #2 – Buy Insurance Before it is Needed

One of the main mistakes that people make when it comes to Florida health insurance is failing to purchase it before a health condition rears its ugly head. Although new legislature will prevent insurance companies from denying an individual coverage due to a pre-existing condition, this coverage will undoubtedly be much more expensive. Insurance is a purchase that is best made while the individual or family is still healthy; this makes the premiums affordable and ensures that there will be a helping hand available if a serious condition arises.

Tip #3 – Choose a Higher Deductible

There are many different types of Florida health insurance plans out there; some pay 100% of certain costs and others are associated with a small co-pay that the insured must pay out of pocket. In either case, there is typically a deductible, or a certain amount of money the patient must spend out of pocket on healthcare costs, that must be paid before the insurance company will start paying for services. Consumers should study the deductibles associated with these policies very carefully before they purchase, and they should be sure to choose the highest deductible that works for them in order to save money on premium costs.

Tip #4 – Opt for Prescription Coverage with a Deductible

Another mistake that Florida residents often make is failing to choose a prescription plan that is associated with a deductible of its own. Here, it is important to find a happy medium when it comes to the deductible amount and monthly premium costs. In most cases, higher deductibles mean lower premiums. This means that insured individuals who opt for a deductible with their prescription coverage will have lower monthly premiums, and they can usually get the deductible covered in a matter of a few months, leaving the insurance company to pick up the tab for the medicines through the rest of the year.

Tip #5 – Most People Cannot Afford the Perfect Plan

When it comes to shopping for Florida health insurance, people all want the same things—great coverage, a wide range of network providers, low co-pays and low deductibles. Unfortunately, while these plans are certainly available, the premium costs are astronomical. To save money, consumers should ultimately decide what is most important to them and look for a policy that provides it. Those who want great prescription coverage may have higher copays when they see a doctor; those who want a vast network of doctors and surgeons may have to sacrifice on the low deductible.

Florida health insurance doesn’t have to break the bank. By following these tips and ensuring that their policies fit within their budgets, everyone can find a personalized insurance plan that will be there for them when they need it the most.