Wednesday, February 4, 2009

Cutting Health Insurance Costs

By: Thomas Gillick

Health insurance is very important to own but can also be very costly. Health insurance costs are estimated to rise about 8% this year and even possibly more in the future. But there is hope to fight these rising costs. One approach is to further your education in health care. By learning the basics you can care or prevent illnesses from becoming severe and having the consequence of complications. Other ways is having your company keep an eye out for those more vulnerable to health risks. This includes those who are overweight and/or smoke. Also by taking prevention measures such as taking a flu shot, you can avoid future ailments. The other way to avoid high health insurance costs is by taking generic drugs instead of brand name drugs. Brand name drugs may look more attractive but generic drugs work just as well and saves. This could help cut medicine cost as much as 50%. Some generics can save 80% on cost. Another option is to open a health savings account. These accounts can be tax deductible when combined with a high-deductible insurance policy. These suggestions can help reduce health insurance costs both for you as the employee and you as the employer.


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