People always ask how to find cheap health insurance in Texas. It seems like a daunting task. No one wants to spend their evening getting online quotes and reading brochures unless they are looking for something to put them to sleep! Let’s discuss a few ways to find a quality health insurance policy while keeping it at or under budget. I will also share a few secrets to keep the price down without forfeiting coverages.
Avenues of finding cheap health insurance
There are lots of paths to cheap health insurance in Texas. Some are a little rockier than others. If you do a quick Google search you will see there are over 5,000,000 results. Daunting, isn’t it? Your first option is to go through these websites. Some of these will be rate aggregators that will quote several companies at once, some will be lead generation companies looking to sell your info to health insurance companies, and some will be health insurance companies. You can call and email to your heart’s content. Another option is to call each company you are interested in individually. They all have 800 numbers. Finally, and in my opinion, the easiest, will be to find a broker you like. Spend 30 minutes discussing your budget, your needs, your wants, and what you don’t want, and let them spend the time to find you cheap health insurance in Texas. A good broker is going to know the market. Who has the best rates right now, which company is offering better coverages, etc? A broker will also know what options can be changed to fit your situation and your budget. They will even have solutions for dental, life, or accident coverage if you are interested. Utilize these guys. The rates are the same if you call directly or use a broker, the prices are set at the state level so you will get expert help for nothing. The health insurance company picks up the tab by way of a commission.
Tricks to lower your cost
There are two ways of looking at lower costs. Is your monthly premium cheap or is your out-of-pocket cheap? It depends on the consumer. If you are looking for cheap health insurance in Texas and you want the absolute lowest monthly premium you will want to max out your deductible. Can you afford $10,000 or even a $25,000 major medical deductible? If so, you can substantially lower your monthly cost. You can always make up these deductibles with accident and/or critical illness insurance. Another way to drop monthly premiums is to take away options you don’t want. If you don’t go to the doctor often wipe out copays. if you never need prescriptions increase the deductible or remove that option altogether. If you want a lower out of pocket cost if you have a medical issue then you will have to fork over the dough every month. The policies filled with every option available and a low deductible just cost more.
Jesse Smedley is the Principal Broker for iHealthBrokers and the founder, president, and CEO of Smedley Insurance Group, Inc. and iHealthBrokers.com. Since the inception of SIG in 2007, Jesse has been dedicated to helping people save money on their health insurance by providing them with resources to educate themselves on all their health insurance options, both under age 65 and Medicare beneficiaries. He is featured in many publications as well as writes regularly for expert columns regarding health insurance and Medicare.