What To Do When Your Health Insurance Premiums Increase
Naturally, it shouldn't be an obligation to decide between rent and medical care when you get sick. For many Americans, the cost of medical care is higher than what fits comfortably in their monthly budget. Unexpected medical bills and expensive insurance could be a ticket to bankruptcy, and there is not much that you can do to protect yourself without health insurance.
Health Care Actually Does Cost More Every Year, But You Have Options
The cost of healthcare is increasing every year. This happens for a lot of reasons. Inflation is one of them. Another is the increasing responsibility of citizens towards shared health care for all Americans. Your health insurance rates also naturally go up with every year of your life, since the older you get, the more likely it is that you will experience a severe illness that your health insurance provider will have to cover.
All of this doesn't mean that you shouldn't stay aware of health insurance rates and change providers if you find a company with better rates. Make sure you consider all of the options available to you each time you have a chance to renew your health insurance coverage. You might find that you can get even better coverage with lower rates from another insurance provider.
Keep an Eye on the Total Package
Even with good insurance, deductibles can be higher than you would like them to be. In order to keep your costs affordable, consider not only the premiums, but also the total amount you'll pay in out-of-pocket expenses. If you're healthy, you might prefer a package with a low monthly cost and lower coverage overall. Those with lots of doctor's visits per year or lots of prescriptions will want to focus on lowering the percent share for their health care visits and supplies. Sometimes you can luck out and find a plan that gives you the coverage you need without added frills that you don't need to pay for.
Keep Working On Your Health
Know that there are benefits to continuing to work on your own health. For example, some providers will give you discounts if you're not a smoker, or if you are part of a gym. It always pays to work on your own health, but small incentives like these from your health insurance provider may make it even more beneficial to spend your time and money on your health.
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