If you are planning to quit smoking, there are a number of financial incentives waiting for you. For starters, get this: many health insurance companies will cut down your rate if you haven’t used tobacco in the last 12 months!
While some health insurance providers offer you discounts on your monthly premium costs if you haven’t smoked in the past year, others tend to increase your rate outrageously based on your tobacco use frequency. If you are applying right now for a health insurance policy, you might need to pay a little more if you smoke.
However, if you already have a health insurance policy, get in touch with your agent to let them know that you have quit smoking for over a year. While they might need proof, usually a doctor confirmation and a test are enough to decrease your premium rate.
Under The Latest Health Reforms
It is highly likely that you have heard about the Affordable Care Act and you may also know that the health insurance companies are required to cover pre-existing conditions without hiking monthly premium amounts. This regulation has been in effect since January 1, 2014. There is still one exception-smoking. Depending on your state you can be charged up to 50% more if you smoke. It is left to each state to decide if they want to use this policy.
Coming down to the point here-how do you avoid paying extra money? It is not easy to quite but some policies also offer programs to help you quit. Enrolling in one of these programs can also help you decrease your premiums. If you are looking for such programs, check out the database available at the American Lung Association website. It allows you to identify smoking cessation programs in over 50 states.
How Else Can I Save On Health Insurance By Quitting?
You cannot deny the fact that smoking leads to a number of different health complications. These health problems include lung cancer, heart problems, and even COPD. It is important to remember that even when you have coverage and notice no increase in premiums, you may still end up paying more out-of-pocket than non-smokers.
When you need treatment for diseases caused by smoking, you are highly likely to end up paying full deductibles. This could mean thousands of dollars spent on healthcare, which could have been easily avoided by quitting smoking. The longer you have been smoking, the higher is the chance of you facing these issues.
Whether you are looking for GHI Health Insurance in NY or Oscar Health Insurance, at Affordable Health Insurance in NY, we can help you find a plan that meets your needs precisely. Give us a call today to learn more about our network of carriers.