Sign up for our FREE Monthly Email Newsletter
In addition to keeping in the financial know, you may be interested in checking your credit score and report.
¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.
³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.
4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.
Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.
If you’re looking for the most cost-effective insurance plan, you might be drawn to a high-deductible health plan. Because the deductible for this type of plan can be as much as $1,000 or more, you typically pay lower monthly premiums, which can leave you with more money for other expenses. But if you get sick, you may pay more out of pocket for your healthcare costs.
With all of the factors associated with healthcare and healthcare costs, it’s important to think carefully when you compare health insurance plans and which one is right for you.
Here are some things to consider when evaluating different healthcare plans.
1.Health comes first.
When contemplating healthcare plans, keep in mind the state of your own health. If you see certain healthcare providers or take certain medications in order to maintain your health, some of these healthcare plan best practices may not apply to you.
2. Shop around.
We shop around for almost everything in our lives, and healthcare should not be any different. This is especially true when you consider that average healthcare costs can vary widely, depending on the facility and where it is located. In some cases, the variance in cost for the same procedure may vary by thousands of dollars. Compare prices at different facilities that accept your health insurance policy to find the best price.
3. Negotiate costs.
You can do more than shop around for the most affordable healthcare. In some cases, you can negotiate costs with healthcare providers.
Some healthcare facilities may be willing to negotiate on price if you have a high-deductible health plan. Other providers may offer a discount if you pay with cash and then handle reimbursement paperwork for your insurer on your own. At the very least, it’s often possible to arrange a payment plan with your healthcare provider and worth asking if you’re unsure.
4. Use a flexible spending or health savings account.
Another way to save money when you have a high-deductible health plan is with a health-related savings account. There are two main account types to consider:
While there are issues to consider, having a high-deductible health plan can save you money in a variety of ways. Put the money you save in a tax-advantaged account, and when you do need to pay out of pocket, it will be more manageable.
Miranda Marquit is a freelance journalist specializing in financial topics. Read more of her writing on Huffington Post, Wise Bread, AllBusiness, and at her website, Planting Money Seeds.
The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.
Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.