Top 10 Ways to Save on Health Insurance

<p>With medical costs going through the roof, having health insurance isn't just a luxury, it's a necessity. Here are the top 10 ways to save on individual or family health insurance and put hundreds of dollars a year back into your pocket. <p> <b>1. Choose a HMO plan.</b> An HMO, or Health Maintenance Organization, is a health insurance plan that assigns you to a network of doctors and hospitals which you must use for your health care. Because of this, these plans are much cheaper than traditional fee-for-service plans which allow you to use the health care providers of your choice. <p> <b>2. Choose a PPO plan.</b> A PPO (Preferred Provider Organization) is similar to an HMO in that you are assigned to a network of doctors and hospitals. But unlike an HMO, you pay for your medical services as they are needed instead of paying a fixed monthly fee. These plans cost slightly more than HMOs, but less than traditional plans. <p> <b>3. Choose a POS. </b>A POS, or Point of Service plan, combines the features of an HMO and a PPO. Like an HMO, you are assigned to a health care network, but like a PPO you can see a doctor or specialist outside your network. These plans cost slightly more than PPOs and less than traditional plans. <p> <b>4. Get a high deductible.</b> If you decide to use a traditional fee-for-service plan choose the highest deductible you can afford. The higher your deductible, the lower your monthly premium. <p> <b>5. Consider separate policies. </b>Because age plays a role in determining how much your policy will cost, it may cost less for you to purchase separate policies for you and your family members. <p> <b>6. Choose an HSA plan. </b>An HSA, or Health Savings Account, is a savings account combined with a high-deductible health insurance plan. These plans allow you to put money into a tax deferred savings account that you use for your medical expenses. Because an HSA utilizes a high deductible plan, you pay less than you would with a traditional low deductible plan. <b>7. Choose a specialized plan. </b>These plans include: <p> * Hospital and surgery plans which restrict your coverage to hospital expenses. <p> * Accident only plans which pay for your doctor visits, surgical fees, and hospital costs when your injured in an accident. <p> * Specified disease plans which pay your medical expenses for a single disease such as cancer, heart disease, or AIDS. <p> <b>8. Quit smoking and lose weight.</b> Because smoking is the leading cause of cancer and causes hundreds-of-thousands of deaths a year, it dramatically increases your premium. Being overweight can add 50% to your insurance premium. Quitting smoking and losing weight will save you big bucks on your premium. <p> <b>9. Pay premiums online.</b> Paying your premiums by electronic bill pay, credit card, or automatic bank deduction can save you up to $5 a month. <p> <b>10. Comparison shop. </b>The best way to save the most amount of money on health insurance is to compare rates from different companies. You can do this easily and quickly by going to an insurance comparison website. <p> In order to get your quotes all you do is fill out a simple online questionnaire with your health information and the type of insurance you want. You'll then get rate quotes from a number of health insurance companies vying for your business. It's quick, it's easy, and it's free. <p> Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get <a href="http://lowerratequotes.com/health-insurance.html">health insurance</a> quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service. <p> The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on ways to save on health insurance. <p> <p></p>