When was the last time you looked at your health insurance premiums? You probably didn't watch them too closely until you realized you were getting less and less out of your paycheck. When you looked to see why you weren't taking home as much as you had hoped, you realized that it was because your insurance company was taking more and more out of your check.
You're not alone. A number of studies have shown that the price of health insurance is rising and rising. If you just cover yourself with health insurance, you may have only noticed a small increase in prices, but if you cover your entire family, you may have seen a substantial increase in what you are paying. Some families have seen their coverage rates increase by 50 percent or more.
This is leaving many with no choice but to reassess whether they can afford to keep paying for their health insurance. Unfortunately, the price of nearly everything else is going up, while wages are staying constant, leading many to debate whether or not they should cut their health insurance to be able to pay the rest of their bills.
Instead, consider another option - finding a way to reduce what you are paying for health insurance.
Discounts for Good Health
One thing you should do when it comes to your health insurance coverage is find out if there is a way you can reduce what you are paying. Many people don't realize all the things that impact what they pay in health insurance. Many of your habits and current body conditions could be making your prices higher than you would like them to be.
Consider your weight. If you are overweight, you may be paying a little more on your insurance for that. See if moving into a new weight range will lower your rates. If so, get to work. Not only will you be working to lower your insurance, but also better your overall health.
Another way you may be able to cut your rates is by stopping smoking. Many insurance companies are penalizing their customers these days for smoking, because of the health threats from this activity.
Discounts for Prescription Drugs
A final thing you may be able to do to lessen what you are paying for health care is to get the prescriptions you need to have at more affordable rates. Most insurance companies have prescription drug plans where you can purchase your drugs in advance (a three month or more supply) at a great discount, directly through the company.
Steve Sikes is an MBA and writes articles on insurance and other financial products. To read other educational articles on insurance at the InsuredItAll Learning Center or to get free insurance quotes for auto, home, health, life or long term care insurance, you will want to visit http://www.InsuredItAll.com
