(EMAILWIRE.COM, October 03, 2011 ) Los Angeles, CA -- Health insurance premiums for many Americans rose sharply this year compared to previous years. Worker's wages were unable to keep pace the rising cost of health care. With todayÂ’s poor economic condition and un-employment at just above nine percent, this news could not have come at a worse time. While it looks like prices will continue to rise there are ways that you can lower your premiums, and keep your current coverage, simply by doing the math.
Many insurance consumers are overpaying for their health insurance plans without realizing it. it. LetÂ’s look at the following example with regard to Co-Pays. The flat fee you pay for specific areas of the policy, where the deductible does not apply. For example: $30 Physician Visit, $50 Preventative Care, $50 Urgent Care, $10 Generic prescription, $35 Brand prescription, $55 Non Brand prescription.
This is an important part of the process ... co-pays versus deductible. You must find a good broker who will insure that you only pay "the correct amount". The co-pay "in itself" should not be confused with "how can I get my co-pays lower"? We say this because we would rather have clients pay "an extra nickel" in co-pay's versus a higher monthly premium. We feel you should "do the math", and make sense. Why would anyone want to pay an extra $2000 a year in premium to save $15 for a "once in a while" visit to the physician?
All PPO's have co-pays ... make sure your broker advises you on what the co-pays are, how they work, and what the best value is, as it pertains to premium, and the balance needed to create maximum value.
The insurance companies have been overcharging for years and they are not going to tell you how to lower your health insurance premiums. The next time you go online to get a health insurance quote, check out the relationship between co-pays and premium. You may be shocked at what youÂ’ll find.
