6 Powerful Tips to Save Money on Your Health Insurance

Most everyone knows the value of having a good health insurance policy, but finding one that is priced just right is not easy. Health costs have sky-rocketed recently, and will probably get worse soon. In spite of that, though, here are 6 powerful tips that can enable you to find affordable health insurance or yourself and your family.

1. Get a Health Savings Account (HSA)

You may already have heard about Health Savings Accounts. This program was created by the government a few years back and is a great way to get family health insurance. The key to making them work for you, however, is to have enough of an income that you can put sufficient money into the account on a regular basis.

This type of account is not for everyone, but if you are in rather good health (and your family), and have the income to fund it regularly, then it could serve its dual purpose well. With good health, an HSA provides you with the money you need for health coverage - with tax-deductible interest being earned, and it also gives you money for retirement, too - as long as there is money left over.

2. Get Your Health Insurance from an Employer

The way to get low cost health insurance, however, will most likely come from an employer. If your employer - or your spouse's employer, provides health insurance, then you will want to get in on the group health insurance for the best rates possible. Group rates will always be cheaper than any private health plan.

When considering an employer’s health plan, CNN’s Money Web page suggests:

Working couples with insurance from two employers may be able to get more or pay less than one-income couples. Depending on the premiums and benefits of each available plan, the best deal may be separate coverage for each, double coverage for both, or forgoing one spouse's coverage in favor of the other's. If you have kids, you'll need to compare your options for family coverage.

Another way to get a good family medical insurance policy is to look at other groups that may offer it. You may already belong to some group that gives its members group health insurance. Associations also often do this, too. If you do not already belong to one, find one that you can join for this benefit.

3. Choose Health Insurance Based on Needs

Health insurance plans are very different from each other. This will mean that you will need to get several health insurance quotes and then find out which ones provide you with the best program for your needs. For instance, if you are planning on enlarging your family, you will want to see which ones offer the best maternity care.

4. Eliminate Habits That Raise Insurance Costs

To be able to reduce your insurance costs considerably, you want to make sure that you do what you can to eliminate bad habits. Oftentimes, smoking or drinking, or even eating too much, can lead to health problems that will cause your insurer to raise your rates. By slimming down, and getting rid of bad habits, you can often remove health problems (or potential ones) and get better rates.

5. Make Sure that There Is Sufficient Local Medical Care Nearby

When you are looking around to buy your affordable health insurance coverage, you want to see if there are sufficient medical facilities close by. This will include family doctors, specialists (especially if there are recurring medical problems), and hospitals that will take your plan.

If doctors and other medical services are at a distance, then you may end up paying considerably more than you wanted. Also, if you already have a doctor that you like, and he or she is not in the system, then talk to them to see if they might join that health plan as a provider.

6. As Much As Possible, Stay Within the System

Most health plans require that you stay within the system, such as HMO's. Other plans, such as PPO's, may allow you to go outside the system, but you will pay more. In order to keep your out of pocket expenses as low as possible, you will need to stay within the system. If your health plan allows you to go anywhere (FFS), then you should compare prices of doctor's visits and find the best deal around.