Pssst - Want To Know A Secret That Banks & Car Insurance Companies Don't Share With You
We hear you. You're in your twenties, you don't have a lot of money to save, and it's hard to stomach the idea of taking a risk that could potentially leave you in worse financial shape. Well, we're here to help! But first, read this excerpt from our blog post on how insurance companies use "youth" as an excuse not to provide affordable coverage…
The stereotype is true: insurance companies really do penalize young drivers for being seen as high-risk individuals who are disproportionately likely to cause accidents. In fact, several studies have found that Americans under 25 pay an average of four times more for auto insurance than those over 25! The age discrimination doesn't stop there either...
In addition to facing unfair higher auto insurance rates, younger people also generally pay more for health insurance. In fact, a study by the Department of Health and Human Services found that on average, those between the ages 18 and 34 pay $962 more for health coverage than people over 45!
If you're sick of being discriminated against because of your age when it comes to auto and health insurance, we have some good news for you: there are several ways to save money as a young adult! Let us show you how...
1. Compare prices with online quote engines like Google Shopping - Click Here For Discount Auto Insurance Quotes!
2. Ask your parents for help - You obviously don't need to be saving money by going without health insurance, but you can still save a ton on auto insurance. What if your insurance company offered you a bet? How would you like to pay $800 more on average each year for health insurance and lose $3,000 in savings at the same time? We think the odds are in your favor!
Now that you know how to save money on your auto and health coverage as a young adult, it's time to start putting those savings to work. If you have any other tips that have helped you cut costs, please share them with us in the comments below!
For more articles like this, check out our blog. Written by Rebecca Daugherty, the blog post you're reading right now is one of a series of helpful posts on how to beat the cost of car insurance.
Title: Hitting Your 20's Can Be The Best Time Of Your Life!
Hello, and welcome back to another edition of "Insurance Advice". Today, we're going to discuss how to save money when buying health insurance.
Health insurance is, of course, a necessity nowadays. You absolutely must have it. But how can you cut costs when looking for health insurance? That's what we thought you'd want to know, so we put together some great tips just for you!
First things first...
You'll want to start by taking a look at your options. There are several different health insurance companies out there who offer varying rates and coverage options. When comparing the different plans available to you, keep these tips in mind:
1. Consider your job - Is your job an "at-will" one? If so, you might be eligible for COBRA (the group continuation health care plan). This plan will cover you for up to 18 months after your original plan coverage ends. This can be a great way to save money on your health insurance. However, if you're covered by COBRA and are laid off, or if your employer terminates the group health insurance policy, you will have to pay the remaining balance for your health insurance.
2. Look at your "deductible" - Do you have a set deductible that must be met before coverage kicks in? Many plans offer lower premium rates if they meet certain deductibles first. For example, one plan might only cover 80% of the cost of care up to an annual deductible of $1,000 before it starts covering 80% after that point. Another plan might cover 100% of the cost of care from the beginning.
3. Figure out what your monthly premiums would cost per month - The price you pay directly correlates to how much coverage you will receive. So how much do you pay for health insurance? You'll want to be sure that it's worth what you're paying for!
If you want more details, check out this article . It offers the details on why it's so important to compare coverage before choosing a health insurance plan! Let us know if we can answer any questions for you in the comments below!
Title: What Are The Side Effects Of Getting A New Health Insurance Plan?...
Hello, and welcome back to another edition of "Insurance Advice". Today we are going to give you some tips on how to save money when buying health insurance.
Health insurance is a necessity nowadays. Everyone needs it in order to protect themselves from major medical bills. But how can you cut costs when looking for a new plan? That's what you wanted to know, so we put together some great tips just for you! Here's what you need to know...
1. Establish a Health Screening Checklist - Take the time and make sure you're comparing apples to apples! There are several different health insurance companies out there who offer differing rates and coverage options. When comparing the different plans available to you, keep these tips in mind:
1. Know your monthly premium - The price you pay directly correlates to how much coverage you will receive. So how much do you pay for health insurance? You'll want to be sure that it's worth what you're paying for!
2. Figure out your deductible - Do you have a set deductible that must be met before coverage kicks in? Many plans offer lower premium rates if they meet certain deductibles first. For example, one plan might only cover 80% of the cost of care up to an annual deductible of $1,000 before it starts covering 80% after that point. Another plan might cover 100% of the cost of care from the beginning.
3. Look at your "deductible" - Do you have a set deductible that must be met before coverage kicks in? Many plans offer lower premium rates if they meet certain deductibles first. For example, one plan might only cover 80% of the cost of care up to an annual deductible of $1,000 before it starts covering 80% after that point. Another plan might cover 100% of the cost of care from the beginning.
4. Look at your co-insurance percentage - You may also want to look at how much you are on the hook for when you get sick or injured (known as "co-insurance").
Conclusion - Try to use as much information as possible to ensure you're getting the best plan for your needs.
2. Shop Around - There are several different health insurance companies out there who offer differing rates and coverage options. When comparing the different plans available to you, keep these tips in mind:
1. Know your monthly premium - The price you pay directly correlates to how much coverage you will receive. So how much do you pay for health insurance? You'll want to be sure that it's worth what you're paying for!
2. Figure out your deductible - Do you have a set deductible that must be met before coverage kicks in? Many plans offer lower premium rates if they meet certain deductibles first.