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There are things that you can do now to help lower your health insurance costs, or at least help prevent those costs from going up. Whether you get health insurance from your employer or purchase your own insurance, you are probably paying a hefty amount for your monthly health insurance premium. Health insurance premiums have been rising every year and many employers are asking their employees to pay an increasing percent of their health premium as a deduction from their paycheck. You may find the following tips to be helpful. Increase Your Out-of-Pocket Expenses Most insurance companies have health plan options that allow you to choose from among health insurance policies that have lower monthly premiums if you consent to pay more out-of-pocket costs, such as a yearly deductable and copayments for services and prescription medications. If you are healthy and do not anticipate any (or a small amount of) medical spending in the coming year, choosing a plan with larger out-of-pocket expenses may make sense for you. Shop for Private Health Insurance For some consumers, buying health insurance is the only health coverage option. However, even if you have health insurance from your employer, private insurance may still be an option to save money. With health insurance premiums increasing every year and employers passing more of the costs onto their employees, your company's health insurance may not be the best deal. Review Your Employer Health Insurance Options Each Year If you and your spouse are both eligible for employee health benefits, check out each company's health insurance options to see which may cost you less. Employers differ considerably in the amount of premium contributions and you may be able to save money by switching to your spouse's family coverage. Get Healthy and Stay Healthy Leading a healthy lifestyle, including stopping smoking, wearing seat belts when you drive, exercising, and maintaining a healthy weight can decrease your healthcare costs. It can also help reduce your health insurance premiums. Many employers are providing financial incentives for their employees to stay healthy. By participating in your company's wellness program, you could not only save money on your share of the premium costs, but you also may improve your heath. Check with your employer's human resources department to see if your company offers a wellness program with healthy lifestyle incentives. If your company does not offer such a program or if you are self-employed, or unemployed, get out and take a walk and have a salad for lunch instead of fast food. About the Author It is very essential to have a car insurance policy. Author Pranav Sharma is an experienced insurance professional and widely read expert on general insurance based in Mumbai. Pranav helps readers opt for best health insurance policy in India.
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