How to Pick Only What Is Needed When Choosing Health Insurance

Health insurance can be expensive, and finding the right balance of coverage and affordability can require a lot of searching. Choosing health insurance coverage that covers only the absolute essentials is one way to keep monthly health care costs low. The main challenge in choosing a bare-minimum policy is understanding what is crucial and what can safely be dropped. This depends on each individual's pre-existing conditions, preferences toward doctors and ability to pay out of pocket for some services.

Instructions

• 1

  Compose a list of your top priorities and what coverage you don't need. According to the experts at MSNBC, emergency room coverage may be crucial for some patients and superfluous for others. Understanding your personal health care needs will help you trim away unneeded coverage.

• 2

  Choose a plan with high deductibles and low monthly premiums if you are in good health and have a low-risk lifestyle. According to Consumer Reports, this is the best option for patients who have few doctor's visits a year but still need health insurance in case of a true emergency.

• 3

  Consider any chronic conditions you may have. It may be possible to find a plan with less emergency or specialty coverage in exchange for extra support for regular treatments.

• 4

  Drop prescription coverage if your current prescriptions can be purchased from a discount pharmacy. If you can purchase your prescriptions for less than the health insurance company can offer you with the plan, there's no need to pay a higher premium for prescription coverage.

• 5

  Examine any potential health insurance plans for unnecessary coverage and negotiate. If a plan covers chiropractic visits or drug and alcohol counseling and you don't use these services, the experts at MSNBC say you may be able to drop these items from your plan with careful negotiation and pay a lower monthly premium.

• 6

  Use a health savings account to supplement minimal health insurance. The experts at Mayo Clinic explain that a health savings account is a tax-exempt savings account that can be used only for health care costs. Using one of these accounts can help patients who have chosen a minimal health insurance plan afford more expensive procedures such as delivery or elective surgery.