5 Tips for Saving When Hiring Health Insurance Health Insurance September 23, 2019 RandeIf you’re thinking of taking out health insurance but don’t know how to choose the one that best suits your needs without overpaying, don’t get overwhelmed! In this guide, you will find five tips that will help you save when deciding on a policy.There are many reasons to take out health insurance. Indeed, having private health coverage for you and your family can be a great financial relief if you have to face such a problem or if you need specific treatment.In this sense, hiring a policy that fits the needs of your family group can be a rather arduous task, especially when you want to have the best guarantees without overpaying.The companies propose a wide variety of insurance, which ranges from the most basic to the most complete.However, for the same type of coverage, prices can vary significantly.Given that, it is important to be able to compare all available policies very well and follow some tips to save at the time of the election.Let’s review some of the most important:Contents1 1.) Hire at the beginning of the year2 2.) Compare and recompare3 3.) Look at the characteristics and conditions of the contract3.1 Payment methods3.2 Medical chart3.3 Copay3.4 Gap period3.5 Special coverage4 4.) Take out family health insurance5 5.) Group your insurance1.) Hire at the beginning of the yearIf you want to take out the best health insurance for your family or if you already have one but want to change companies, we advise you to take a good look at the time of year you are.A good portion of the companies offer important promotions at the beginning of the year, so waiting a few more months before deciding on one policy or another could save you a few dollars.2.) Compare and recompareThe first thing will be to compare the different companies and analyze which is the best one adapts to your needs and the one that offers you greater security and confidence.Then, we advise you to compare all the offers offered by the insurers you have chosen. Don’t forget that price isn’t the only thing to keep in mind.In order to make a good choice, you need to know your needs and those of your family group, as well as the budget you have to invest in health insurance.3.) Look at the characteristics and conditions of the contractA very important point when saving on your health insurance is to analyze in detail the different insurance coverage you have selected previously.Don’t forget that although two policies look similar, the contract may include very different services.Given this, we give you some of the points that can make a significant price difference within your health insurance contracts.Payment methodsSome insurers offer different forms of payment when you take out a policy.In this case, and to achieve a saving of up to 10% per year in the cost of insurance, we advise you to opt for an annual payment.Monthly payments usually lead to an increase in the total cost of insurance, so if you can make the payment on an annual basis, this could be a good way to save.Medical chartEach company works with its own medical charts, so it’s important to check the list of professionals and analyze if there are any of your trust.Remember that choosing a medical policy can significantly lower the cost of your insurance.On the contrary, underwriting an expense reimbursement coverage, where you can freely choose the doctor you wish to go to will automatically increase the value of the doctor.CopayCo-pay is another good way to save on your health insurance. This is that every time you go to an appointment or need treatment, you pay a small fee for it.Generally, the policy price is much cheaper than coverage that does not have this option.Co-pay is a recommended alternative for people who do not go to the doctor on a regular basis or who need permanent treatment.Gap periodPay attention to periods of absence, because if your policy has very long periods you will not be able to make use of the coverages until it is finished and, therefore, you must bear all the medical costs that are presented.Special coverageIf someone in your family needs a special type of coverage, it’s good to know that some insurers offer the kind of service and guarantees you need.4.) Take out family health insuranceIf you plan to take out health insurance for each member of your family, the best alternative to save will be to opt for family coverage.Most companies have these kinds of offers and at prices that are much more interesting than that of individual hedging.5.) Group your insuranceMany of the country’s major insurers not only offer medical policies, but also car, life or home coverage.Faced with this, and if you already have insurance with a company, we recommend contacting them and evaluating the possible benefits of establishing a link with them.Generally, if you have two or more products from the same insurer, the prices for each policy will be lower.