Affordable High Risk Health Insurance In Alabama

Most people in the state of Alabama feel that the cost of health insurance has gotten out of hand. In fact, it's so bad that fully 16% of all Alabama residents report that they can not afford to purchase any coverage at all. Fortunately there are steps that almost anyone can take that can reduce the cost of their medical coverage almost overnight.

It may only be a small savings but if you pay your monthly premium directly out of your bank account, without your company having to send you a bill, you'll save money.

If you do not see your doctor on a regular basis you can save quite a bit by increasing your co-payment to 50%.

Increasing your deductible will save you money the instant you do it. The trick, of course, is to know how much of a deductible you can actually afford to pay and then setting your deductible at that amount.

Finding a group plan is always cheaper than trying to buy individual health insurance. Usually people get their group coverage at work, but if your place of employment does not offer group health then start checking around at any groups, clubs, organizations or associations that you belong to. You'd be surprised at the number of clubs and organizations that offer their members low cost group medical coverage.

If you do not belong to any clubs or associations that offer their members low-cost group medical, see if any of your family or friends belong to a group that does. If so, see if you can join.

There is one form of affordable high risk health plan that most people are not aware of. It's known as a Health Savings Account, or an HSA. An HSA is a special tax-free savings account that you can only use to pay your medical expenses.

Part of your HSA account will include a very affordable super-high-deductible health insurance policy. This policy will have a deductible of at least $ 1,200 if you're buying an individual policy or $ 2,400 if you're buying a family plan.

Obviously with deductibles that high these policies will not pay anything during a normal year toward any of your medical bills. You'll have to pay all of them yourself out of your tax-free savings account.

What these policies do is act as a safety net should you have a catastrophic accident or illness which would have wiped out your life savings or even forced you to sell your home.

Regardless of whether you are looking to buy a traditional health plan or set up an HSA, you'll save money if you purchase your policy online. One of the tricks to finding the absolutely best possible price is to run your price comparisons at at least 3 different websites that allow you to compare prices among different insurance companies. The more companies you look at the better your chances of finding the rock-bottom price for health coverage.

Source by Alexis Jensen