April 2021
« Sep    
Search Homepage

Options for Achieving Affordable Health Insurance

The cost of private health insurance has risen substantially over the last ten years to cover the rising cost associated with incorporating new technological advancements. Even still there are clear options to gain more affordable health insurance rates, which are discussed in this article.

Take Out a Basic Plan

Health insurance plans range from basic to comprehensive. If an individual has a tight budget it may be better taking out a very basic plan with lower rates than having no health protection at all. Basic plans will still cover vital impatient treatments, consultations, scans and diagnostic tests. As a result, the policyholder will be covered for illnesses that pose the most risk to a healthy life. It is the additional benefits such as alternative medicines and physiotherapy that will not usually be covered.

Implement an Excess

Implementing an excess can significantly reduce the rates charged. With an excess there is less chance that multiple claims will be made and therefore the risk for the insurer is vastly reduced. In this way the policyholder can gain affordable cover and still be covered in case a serious ailment arises. If an individual takes out a policy with an excess it is a sensible idea to keep some funds in a separate bank account to ensure the excess can be met should a claim need to be made.

Compare Policy Rates

It is always wise to compare the rates offered by a number of different insurers. Due to differences in underwriting techniques some providers will quote a more affordable rate than others simply based on your particular demographic. Health insurance brokers can be used to compare both the rates offered by multiple insurers and the policy coverage.

About Author
Produced by James White of Drewberry Personal health insurance brokers, specialist providers of information, advice and broking services for both comprehensive health insurance and affordable health insurance.

Comments are closed.

Social Widgets powered by