Individual health care insurance and cafeteria plans are options that can help you provide medical care for the family. Here are tips to get an affordable plan.
Finding Affordable Individual Health Insurance
If you do not possess the use of group medical health insurance that will help you cover medical bills, a reasonable individual medical health insurance plan is a good choice.
The least expensive choice for comprehensive medical insurance is often a managed care plan like an HMO or a PPO. With these plans, your premium cost is lower however, you must choose your doctors and hospitals coming from a list furnished by the insurance company.
Another money-saving option, in particular when you are in a sound body, is often a major medical plan. Such a plan provides coverage just for major accidents and illnesses if you are to blame for routine office visits as well as other ordinary expenses.
What About Cafeteria Plans?
Cafeteria plans are available for C corporations, S corporations, limited liability companies (LLCs), partnerships, sole proprietors, professional corporations, and non-profits.
With a cafeteria plan, you could have money deducted from your paycheck pre-tax and placed into a spending account. You can then withdraw the cash through the spending account to spend medical bills.
One main advantage of cafeteria plans is that, because the cafeteria settlement is withdrawn pre-tax, your annual taxes are leaner.
Getting the Best Rate
Whatever kind of insurance you ultimately choose, be sure to take time to shop around to find the best and least expensive plan. Insurance rates may vary dramatically from business to business, so shopping around before buying could help you save a lot of money.
The fastest way to comparison shop is always to check out an insurance coverage comparison website. You just fill out a fairly easy online form over the internet and you will probably then receive quotes from multiple A-rated medical insurance companies.
On the very best websites, you can even discuss with insurance experts online and get techniques for your questions.