45 Sure-Fire Ways to Save Money on Health Insurance

According to the U.S. Census Bureau almost 17% of all Americans are without health insurance coverage of any kind, and a large percentage of those Americans who are covered by health insurance can only afford their coverage thanks to group rates offered through their employer or through an organization.

As more and more employers find the cost of providing their employees with health care benefits to be beyond even their means, the number of non-insured Americans is likely to increase.

For many the situation is past serious – it seems utterly hopeless.

However, there may be a few ways left for many of these people to afford health insurance once again. Hopefully one or more of the following 45 suggestions for ways to cut the cost of your health insurance will help you afford the coverage you and your family need.

1. Don't Smoke – Smoking reduces life expectancy and increases the chances of contracting a whole host of illnesses. Because of this smoking increases the cost of health insurance. If you were a smoker when you first purchased your health insurance policy, but you have since quit, talk to your agent about getting a possible reduction in your monthly health insurance premiums.

2. Lose Weight – We all know how difficult it is to lose weight, but the fact still remains that a portion of your health insurance premium will be based on your Body Mass Index, or your BMI. Basically this is a fancy way of saying that overweight people pose a greater health risk and so pay more for health insurance. Losing even a little weight may drop you into a lower BMI rating and could save you hundreds of dollars in insurance premiums over the long run.

3. Combine Insurance Policies With One Carrier – If you purchase your health insurance from the same company that you purchase your life insurance or your car insurance or your homeowner's insurance you may qualify for a fairly substantial multi-policy discount.

4. Keep The Same Insurer For At Least 5 Years – If you stay with the same insurance company for at least 3 to 5 years you may get a discount of approximately 5% on your health insurance premium. If you stay with the same company for 6 years or more your discount could be even greater.

5. Ask Your Agent What Discounts Apply to You – As strange as it seems your insurance agent may not offer you all of the discounts that are available to you unless you look him or her in the eye and point-blank ask for every discount that could possibly apply to you. These discounts vary greatly between insurance companies so it is up to you to ask and up to your agent to tell you.

6. Keep a Good Credit Rating – Many people find it hard to believe, but your credit rating really does affect how much you pay for health and other types of insurance. The higher your credit score the lower your monthly health insurance premium is likely to be.

7. Don't Use Tobacco Products – We've already mentioned that smoking will increase your monthly premiums, but you should also be aware that chewing tobacco and the use of snuff will also increase your premiums. Stop the use of all tobacco products if you want to keep your premiums as low as possible.

8. Pay Premiums Yearly – It costs the insurance companies millions of dollars to send out payment notices month after month and to process millions of checks each and every month. Consequently if you pay all of your premiums with one check each year your insurance company will gladly pass the savings on to you in the form of a lower premium payment.

9. Don't Participate in Extreme Sports – If you routinely participate in any form of extreme sport or in any type of leisure activity that could be considered dangerous or life-threatening, you can expect your health insurance premiums to go up.

10. The Car Your Drive Can Increase Your Premiums – If you drive a flashy sports car or a fast muscle car, or if you have gotten several tickets for speeding or street racing you can expect your health insurance premiums to reflect the added risk that you put yourself under. Stopping all such activities can reduce your month health insurance costs.

11. Your Occupation Can Increase Your Monthly Premium – If you have what is generally regarded as a dangerous job then you can count on your health insurance premiums being higher than normal. Anything that increases the chances that you will need to make use of your insurance is likely to drive the cost up.

12. Increase Your Co-pay – Many people in the past have chosen a 20% or 25% co-pay – meaning that each time they visit a doctor they fork over 20% or 25% of the charge for the doctor's office visit in cash. If you were to increase your co-pay to 50% you will save substantially on your monthly health insurance premium. This is an especially good tactic for people who do not see their doctor on a regular basis.

13. A Group Policy Can Save You A Bundle – If your employer or an organization you belong to offers group health insurance you should definitely consider it. A group plan is almost always cheaper than any individual plan you will find, and this is especially true if you are older or if you use tobacco products, are overweight, or have certain pre-existing medical conditions which could make individual insurance prohibitively expensive.

14. Don't Just Grab The Plan That's Cheapest – It's important that the plan you buy covers the things that are important – even vital – for you. Many cheap plans are inexpensive because they exclude coverage on things that might be the most important for you. Remember, the best value in a health insurance policy is the best price for the coverage you need and not just a cheap policy.

15. Be Flexible As to Your Choice of Providers – Often in order to get the best coverage at the lowest price you will be forced to use a specific group of doctors, hospitals and other health providers. This may mean that you will have to give up your favorite family doctor if he or she is not part of the group that is approved by your health insurance plan. Be prepared to make some tough choices if cost is going to be a deciding factor in your choice of a health insurance plan.

16. Talk To Your Tax Man – If you are self employed your health insurance premiums may be tax deductible, effectively giving you a substantial savings. Even if you receive health insurance through your employer ask if your employer offers what is called a flexible spending account; if so you may still be entitled to a tax break. Your tax preparer or your accountant can give you more details.

17. If You're A Married Couple And Both Work – If each member of a husband and wife team work outside the home and each is offered a different group health plan then you'll need to do some careful comparison in order to decide how best to save money and get the best coverage. Sometimes it is best to put both husband and wife on one policy and sometimes you can get more and save more by purchasing two separate plans. Making the comparisons can sometimes be difficult, but the results can save you a small fortune.

18. If All Else Fails Buy Catastrophic Health Insurance – Catastrophic health insurance refers to a policy with an ultra-high deductible -- $2,000 or more. Such policies are relatively inexpensive although, as you might imagine, they pay little or nothing toward your medical expenses during a routine year. Where these policies shine is if you have a catastrophic accident or illness, which can run up medical bills in the tens of thousands or even hundreds of thousands of dollars in the blink of an eye. Catastrophic policies are designed to protect your assets, your home, and your life savings. These policies are especially useful for people who are generally healthy and rarely see a doctor.

19. Increase Your Deductible – Your deductible is the amount of money that you agree to pay for your medical needs each year before you trouble your insurance company to begin paying your medical bills. The more you are willing to pay – that is, the higher your deductible – then the less you will be asked to pay each month in health insurance premiums.

20. Buy Generic Drugs – Did you know that by law generic drugs must be exactly as strong and in the same form as name brand drugs? The only thing that can be different between generic and name brand is the inactive ingredients. Buying generic drugs can save you a bundle on your health care costs.

21. Flexible Spending Account – Ask if your employer offers a Flexible Spending Account. This is a special form of a savings account where you can put tax-free dollars which you can use for a wide range of health needs. Money not used in one year may be rolled over – tax free – into the next, allowing you to build up a large heath savings account over time – and all tax free.

22. Ask How Much Your Drugs Would Cost Without Insurance – occasionally it costs you less to purchase a prescription if you do not use your insurance. Sometimes a drug costs less for you to purchase than your co-pay – it pays to ask each time you pick up a prescription.

23. Exercise and Maintain a Healthy Lifestyle – It may seem like a no-brainer but how many of us make exercise a routine part of our daily lifestyle? Make a conscious effort to cut out as much fast food, fats, calories and cholesterol from your diet as possible, take vitamins, and get at least 30 minutes of active exercise every single day. Taking steps such as these can decrease the number of times you'll need to visit your doctor or other health care provider each year and can add up to considerable savings over time.

24. Take Advantage of Preventive Care Check-Ups – It may seem odd to suggest that going to the doctor more often can save you money, but many health insurance plans provide for one or more "free" visits each year to your doctor for a preventive health care check-up. These check-ups save the insurance company money over the long run and taking advantage of them can save you money as well.

25. Drink Alcohol in Moderation – A glass of wine with dinner or one drink a day may actually be healthy for you, but, as with most things, over indulging in alcohol is definitely not healthy for you and can quickly lead to higher health insurance premiums not to mention more frequent doctor's office and ER visits, all of which add to your heath care costs.

26. Stay Far Away From Illegal Drugs – Illegal drug use is a sure-fire way to increase the cost of your health insurance and your overall health care costs. If you are concerned about the cost of your health insurance then just say "No" to drugs.

27. Consider Joining a Health Maintenance Organization (HMO) – Joining an HMO means that you can only use the doctors, hospitals and other health care professionals that are plan-approved, and it often means a waiting period before seeing a specialist, but joining an HMO may be good way of saving money on your health care. The deductibles and monthly premiums for HMO coverage are often lower than those of other insurance. Look at your normal health care needs and then compare the cost of an HMO to the cost of traditional health insurance.

28. Consider Joining a PPO – PPO stands for Preferred Provider Organization. With a PPO you have a wider choice of doctors and other health care providers than you do with an HMO, but co-pays and other fees are almost always more with a PPO than an HMO. Again, depending on your health care needs a PPO can be less expensive than more traditional health insurance.

29. Insure Children Through State Plans – All states have a special fund for providing low-cost or almost no-cost health insurance for children. Often there are income requirements for participating in such a plan, but if you have a child with a chronic problem or with special medical needs a state-sponsored plan can be just what you need to get the coverage your child requires at a price you can easily afford.

30. Talk to Family & Friends – Asking your family and your friends for their recommendations for the best and least expensive health insurance is a low-tech but excellent way to not only learn about low-cost plans but to also get a good sense of which companies will be there for you when you need them and which companies you should avoid.

31. Toll-Free Health Hot Line – The U.S. Government has a multitude of toll-free health hot lines that you can call 24/7. They have health-related lines on virtually any subject you can imagine and the information is kept up-to-date and genuinely helpful. You can find out more by calling the National Health Information Center at 1-800-336-4797.

32. Discount Medical Card – If you're caught in the middle of the health care crisis, where you make too much to qualify for most low-income insurance yet you don't make enough to afford traditional medical insurance you may want to look into getting a Discount Medical Card. These cards are not associated with any health insurance and so there are no exclusions for pre-existing conditions or for any other reason. For a small monthly fee these cards put you in touch with a network of doctors and other health care providers who have agreed to provide services to members at a reduced rate.

33. Group Health Expense Sharing Plan – These are groups of individuals who have banded together to act as their own insurance company. Some groups are associated with churches, other groups are parts of other large organizations. Each group has its own rules for the kinds of health care that are covered, but by taking your time and checking out several different Group Health Expense Sharing Plans you can probably find one that's just right for you and which offers coverage at an affordable price.

34. Medicaid – If you can't afford medical insurance you may be eligible for your state's Medicaid program. Most Medicaid programs are designed for low-income families – whether employed or not – but the rules and eligibility requirements vary from state to state so if you simply can't afford private health insurance at least check with your state's Medicaid program to see if you or any family member qualifies.

35. COBRA – If you have recently lost a job where you had group health insurance you may consider purchasing COBRA (the Consolidated Omnibus Budget Reconciliation Act of 1985) insurance. COBRA insurance isn't cheap, but if any member of your family has a pre-existing condition which make private individual health care unavailable or prohibitively expensive, COBRA may be able to provide coverage at a more affordable rate.

36. Group Rates For Home-Based Business – Some states (such as Florida) require that most home-based businesses be offered the same group health insurance rates as a larger business. Other states require health insurance companies to offer group rates to home based businesses that have at least 1 employee. Having a spouse work for your home-based business even part-time can qualify you for substantial group rate savings on your health insurance. Check with your state's department of insurance to see if you might qualify for such savings.

37. Phone Med – Many communities have a Phone Med service which you can call 24 hours a day, free of charge. These services are generally manned by a registered nurse with at least 10 years experience who can provide answers for many of your medical problems free of charge. Local medical clinics will also answer many medical questions over the phone free of charge. Obviously this is not a complete answer to finding affordable health care, but such free services may help reduce some of your medical costs.

38. Emergi-Centers – Also known as no-appointment ambulatory care centers, are starting to pop up in larger communities all around the country. They are cheaper than going to an Emergency Room at a hospital and may be your best source of medical treatment if you are generally healthy and can't afford traditional health insurance.

39. Treat Yourself – Obviously there are individuals with special medical needs who should see a doctor for virtually any medical symptom, but the majority of healthy Americans can save money by not troubling their doctor for a simple cold, flu or other routine illnesses, especially those that are viral in nature. There is little a doctor can do for viral infections such as cold or flu, and paying upwards of $75 for a doctor's visit that achieves little or nothing in the way of treatment is a waste of your hard-earned money.

40. Free Clinics – Many communities have free clinics or if not year-round free clinics they have frequent free health screenings, immunizations, blood pressure checks, free contraceptives, free shots for children, and tons of free advice. Using these frequent free clinics can save you and your family several hundreds of dollars each year in either health insurance premium payments, or in co-payments.

41. Buy Prescriptions by Phone or Internet – There are many low-priced pharmacies which offer both generic as well as name brand medications by phone or through the Internet at greatly reduced rates. Using these pharmacies on a regular basis can greatly reduce your health care costs.

42. Review Your Entire Heath Insurance Policy Yearly – Things change. Your health needs change. Some things you thought you would need (and paid for) turn out not to have been so important after all. By reviewing your health insurance policy every year you can be certain that you are only paying for those things that you are actually using.

43. Make Certain Your Policy Limits Your Liability – Make absolutely certain that your policy provides for a maximum amount that you will ever be required to pay for medical treatments in any one year. This is especially important when it comes to cancer treatments – some policies try to limit how much the insurance company will pay for cancer and other catastrophic illnesses. If your policy has unreasonable limits, start looking for a new policy.

44. Get Free Health Advice From the Government – Each year the government spends millions of dollar printing a plethora of health-related information, all of which is available free to the public. You can access this vast wealth of free health tips and information at: http://www.pueblo.gsa.gov

45. Shop Around – We've saved the biggest no-brainer for last. But it's true – the exact same coverage can cost you considerably more or less depending on the company you purchase it from. There are dozens, perhaps hundreds of websites that allow you to make side-by-side comparisons of the costs of health insurance policies from different insurance companies. Don't fall into the trap of thinking that you only need to make comparisons on one site. If you truly want to find the best policy at the best price you'll need to take the extra time and effort to make comparisons on at least 3 different websites.

So there you go. 45 exciting and proven ways to save money on your health care or to reduce the cost of your monthly health insurance premium. Hopefully one or more of these ideas will help you find and afford the coverage you and your family need.