These days, everyone can stand to save some money, but one cost-cutting measure often overlooked is finding more affordable Texas health insurance. People everywhere are saving money by skipping vacations, opting for dinners at home and forgoing big purchases, but since Texas health insurance prices can vary dramatically depending on the type of plan and coverage options you choose, there are several easy ways to cut your costs, as outlined below.
Simply identifying the items most important to you is an easy way to trim your Texas health insurance costs. Do you have a favorite doctor? If so, choose a plan that covers his services so you’re not paying extra to see him. Do you require frequent doctor visits and prescriptions? If yes, then choose a plan with a low deductible and copay, so your out-of-pocket costs are manageable. If you don’t require regular prescriptions or doctor visits, then a plan limited to major medical coverage can be a very affordable Texas health insurance option.
Consider a high deductible health plan and Texas HSA
A deductible is the amount you are expected to pay toward doctor visits, hospital stays, and other medical expenses before your insurance kicks in. If you’re generally healthy and don’t incur many health care costs, then selecting a high deductible health plan (HDHP) is a great way to save some money. All you pay each month is a small premium to keep your plan in place, and if something major occurs, your HDHP has you covered.
A Texas HSA is a health savings account that allows you to save money on a tax-free basis, similar to an IRA. You can use this money toward health care costs and preventative care, and any money left over is rolled over year after year and can accrue interest. A health savings account puts you in control of your health care spending, and simply being aware of how your money is spent is a great way to cut costs.
Put a health insurance broker to work for you
A qualified health insurance broker can work with you to find an affordable Texas health insurance plan that fits your health care needs and budget. And best of all, because a broker’s fees are paid by the health insurance carrier, you incur no extra costs by utilizing a broker’s expertise.