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Health Insurance: Know Your Options

If you're like most Americans, when you opened your first paycheck of the year your jaw dropped. All of a sudden, you are paying a lot more for health insurance.

In recent years, due to the rising cost of health care and prescription drugs, many companies have seen a dramatic increase in the cost of providing health care benefits -- and they are passing it along to their employees. If that extra $50 -- or more -- a month is a bigger expense than you care to live with, it's time to explore your options.

A lot of people don't realize they can shop around for a better deal than the one offered by their employer, and if they find one, they can cancel their policy at any time. Need help exploring an option that has the potential to save you thousands of dollars a year? Log on to www.healthinsurancefinders.com for access to a series of valuable guides that will tell you all you need to know about the types of policies you can take out on your own.

Need an individual or family plan that doesn't cost an arm and leg? Your options include indemnity (fee-for-service) health insurance, health maintenance organization (HMO) plans, preferred provider organization (PPO) plans, point-of-service (POS) plans and health savings accounts (HAS) plans. Each plan type differs on two major features: cost and choice. Typically, the more choice you want in choosing your own doctor and hospital, the more expensive the plan will be.

If a member of your family is a student, you may be able to save even more by taking that person off your family policy, and signing him or her up for a student plan. Depending on where the student attends classes, the school's student medical insurance may be the best option because some colleges have excellent health care facilities. But if you want flexibility, such as the option of seeing doctors when your child is home from school, it may be better to go with a private provider that offers the ability to use off-campus medical facilities and doctors.

And if your spouse owns his or her own business, you may even want to look into the possibility of taking out your own group plan. With just a few people on it, the plan is sure to be less expensive than the one you're considering leaving.

After you review the material and decide which types of plans best fit your needs, you can request quotes based on product type and the state you live in. Click here to get the process started.

When selecting what type of health plan is best for yourself and your family, you should compare your options and shop carefully because coverage and costs vary from company to company and between various plan types.

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