The price of health insurance depends on several factors, such as the age of the insured, their state of health and, of course, the type of coverage that is contracted. Getting the cheapest insurance does not consist of hiring the one that offers the best price, but in assessing how much it will cost us to use it. What good is it to hire cheap insurance if every time you use them, at the co-pay, will you get more bills? Why do you want cheap insurance if you are not going to give all the services you are looking for?
So that they do not give you cat for hare, and you can save on your health insurance we offer you the following tips:
1 – Compare prices, conditions and coverage
When you compare the different health insurance, in addition to the price, you should analyze the coverage offered by each insurer.
2 – Review the cancellation conditions
Although one does not hire insurance thinking about leaving it, it is important to review the cancellation conditions well, just in case. Normally, it is necessary to warn two months in advance, and it is possible that, otherwise, they can demand the full payment of the policy if you do not notify with enough time.
3 – Pay attention to the price of the co-payment
Insurance with co-payment is cheaper. But after the co-payment large expenses can be hidden. Analyzing how much you have to pay for different services is essential, especially if you plan to use a lot of insurance services. You also have to review the service limitation, since some coverage have limits, such as number of queries or tests.
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4 – Choose the modality of medical table
The modality of medical chart comes out cheaper than the one of reimbursement of expenses. If you have interest in certain doctors, make sure they are included in the insurer’s medical chart.
5 – Hire what you need
If you consider that you have part of your needs covered by Social Security, or that the insurance does not offer you better services than those offered by public health in your area, do not pay for what you will not use.
6 – Review the grace period
Some coverage have grace periods, which are not the same in different insurers. If you foresee that you will need a service with a lack, analyze what is the period stipulated in the different insurances, to see if you are interested or not waiting.
7 – Pay the premium annually
Paying for long periods of time usually implies an interesting discount in the price of the policy with respect to the monthly or quarterly split. If you can, better pay it annually.
8 – Read the fine print
All insurance has its limitations and exclusions. Some are generalized, but others may vary from one company to another. Therefore, take time to read the general conditions and analyze what limitations the different services have.
9 – Pay special attention to offers
The competition in health insurance is very aggressive, and you can find incredible offers. Before hiring, look carefully at issues such as permanence, coverage, limitations and the price of renewal, as well as grace periods and exclusions. As it was said in the old days, “nobody gives hard to four pesetas”.