6 Tips to Save on Health & Medical Insurance
Health insurance generally pays for medical costs incurred when you are sick, pregnant or in an emergency medical situation. Health insurance is also known as medical insurance and can cover disability and long term nursing or custodial care.
Individual medical insurance or group medical insurance is often a luxury and not affordable for everybody. There are several things you can do that will help reduce your medical insurance rates. In this section, we will provide you with information on the importance of medical insurance comparisons and how to buy medical insurance from various providers. A common question most people ask themselves is whether they should buy from a company specialising in medical insurance or from the insurance provider who has all your insurance policies.
- Shop around the various medical insurance providers. Get at least three quotes. You can chat with multiple insurance providers right now by using the search form at the top of the page. It’s anonymous, easy, quick, and it’s free.
- Consider paying a higher excess fee. In the event of a claim, you would pay a larger sum of money. The benefit of this is that New Zealand medical insurance companies usually reduce your health insurance premiums. If you decide on this type of insurance, be sure that you have money set aside for when you need to submit a health insurance claim.
- When shopping for medical insurance coverage, consider what you need to be covered for. Leave the day-to-day medical expenses out and only focus on the large costs, such as surgery or hospitalisation. This will help reduce your medical insurance rates considerably.
- Try negotiating with your employer if you are starting a new job or conducting a salary review. Very often, companies have insurance policies for upper management. Try to include health insurance as part of the negotiation package.
- Find out if your health insurance provider gives group discounts. Your work, religious or social groups may be eligible for a health insurance group discount.
- Ask whether your insurance provider gives package discounts. A package discount may be provided if you combine all of your insurance policies with the same provider.