How to Lower Health Insurance Premiums

If you wish to retain your current benefits, then you will have to shop around for a better price. Take your current policy to several local agents and see if there is a difference. Also, check the Internet.

You could also change your premium by raising your deductible, the amount you pay before your insurance kicks in. The greater the deductible, the less expensive the premium. Also, you can change your co-pay ratio. This is how much you have to pay after the deductible has been met. For example, a typical policy is 80/20. This means that the insurance company pays 80% and you pay 20%. If you change this so the insurance company has to pay only 60% and you pay 40%, then your premiums will be reduced. By raising your deductible and/or co-pay you will lower your premiums, but if you need the insurance you will end up paying more out-of-pocket.

Another way to lower your premiums is to change your lifestyle by stopping smoking, driving safer, and eliminating dangerous hobbies such as hang gliding or flying. Improve your health by losing weight, lowering your blood pressure and improving your cholesterol numbers. Then try shopping around for a new policy with the new improved you.