Premiums paid by self employed folks might be tax-deductible. You might also be entitled to a tax break if your employer offers a flexible spending account. To confirm this in your case ask a tax professional. This will help you determine what will give you a tax break and what won’t.
If you’re married you will save by being on one policy. You have to compare though to determine which offers you more savings.
However, this might not be in your best interest depending on your different health conditions as individuals.
If you’re rarely ever ill you’ll you’ll save considerably by choosing catastrophic health insurance instead. This kind of policy is useful for you if you suddenly fall sick or get involved in an accident.
The greatest advantage of this policy is in cases where sudden diseases or accidents give rise to huge bills that could at best be described as catastrophic. The name certainly does offer a clue of what it protects against. They come at very cheap rates.
What are usually high are the deductibles which can be as high as $2,000. But considering that you are protecting yourself from accidents or diseases that could cost tens of thousands of dollars such deductibles are not quite that high — Relatively.
Your premium will more affordable if you increase your deductible. For folks who don’t knwo what a deductible is, it is what you must pay before your insurer fulfills its part. Therefore, make your deductible as high as possible but within easy reach.
The pharmaceutical industry has big brand names. Drugs that have such brand names cost a lot more than equally-effective drugs with less brand recognition and so increase your premium. But will you believe it if I told you that all generic drugs are required by law to include the same active ingredients as brand name drugs? Where the differences start and end are in their selection of inactive agents.
So by buying brand names you truly aren’t enjoying more value in spite of the fact that they cost a lot more. Nevertheless, make sure you ask a doctor you can truly trust about this before you make your final decision.