Generally, the healthier you are and the younger you are, the less you’ll pay for health insurance. If you’re married and both spouses work, compare policies offered by both employers. It’s best to go with the policy of the strongest company with the most benefits that charges the least out of pocket.

Here are some other ways to cut the cost of your health insurance cost: (more…)

The insurance functions of Blue Cross and Blue Shield plans were pretty simple in their early years. The plans engaged in community rating. This simply meant that all of the subscribers of a plan were in one large risk pool. Insurance premiums were determined essentially by projecting the growth of insurance claims and dividing by the number of subscribers. Commercial insurers began to challenge this in the 1950s through experience rating, and by the 1960s, experience rating had driven out community rating. (more…)

With the passage of the Medicare Reform Act in late 2003 and its provisions for Health Savings Accounts (HSAs), attention again turned to the effects of higher deductibles on healthcare spending. Individuals and employers are able to establish tax-sheltered spending accounts that allow unused balances to be rolled over from one year to the next if they have an eligible health insurance plan. Among other requirements, an eligible health insurance plan must include a deductible of at least $1,000 per individual. This amount is to be adjusted annually for inflation under the terms of the legislation. (more…)

Thinking of getting heath insurance? Here are 5 things you must know.

1- A health insurance plan protects you and your family financially in the event of an unexpected serious illness or injury that could be very expensive. One can never predict when it will be needed. With health care costs constantly on the rise, and the ability to get customized, affordable health care plans, no one should be left without it. In addition, you are more likely to get routine and preventive care if you have health insurance. (more…)