The 7 Best Ways to Save Money on Your Health Insurance

In this day and age of high health care costs, health insurance can cost you an arm and a leg. But it doesn't have to. Here are the 7 best ways to save on health insurance.
1. Check Out Your Employer's Plan
If your employer offers a health plan, check out the coverage and rates. Group plans are usually less expensive than private plans - but not always - so you should check out individual private plans too.
2. Raise Your Deductible
If you have a traditional plan such as an indemnity plan (also known as a fee-for-service plan), raising your deductible can save you hundreds, even thousands of dollars on your premium. Just make sure you have enough money to pay the deductible should you need to file a claim.
3. Get a Major Medical Plan
If you're in good health, consider a major medical plan. These plans cover only major illnesses like cancer, heart disease, and AIDS, and are a lot cheaper than comprehensive plans.
4. Get a Specialized Plan
Specialized plans are also cheaper than comprehensive plans. They include: * Hospital and surgical plans which restrict your coverage to hospital expenses. * Hospital confinement plans which pay a specified amount each day you're in a hospital. * Accident only plans which pay your medical expenses when you have an accident.
5. Get a Managed Health Care Plan
Managed health care plans - HMOs, PPOs, and POSs - assign you to a network of doctors and hospitals. They're the cheapest of the comprehensive plans and involve the least amount of paperwork.
6. Get a Health Savings Account
With an HSA you put money into a savings account and use that money to pay for minor health expenses. You combine this account with low-cost, high-deductible health care plan to pay for major expenses.
7. Get Quotes From Other Insurers
The absolute best way to save money on your insurance is to get quotes from as many insurance companies as you can. The easiest way to do this is to go to an insurance comparison where you can get free quotes from a number of top-rated companies. It's quick, it's easy, and it's free.