Access to affordable health care is a top priority for many individuals, couples, and families. Without health insurance, the out-of-pocket costs for care can be astronomical and out of reach. Luckily, thanks to the variety of plans available and provider programs designed to help buyers, it’s possible to get the coverage you need while lowering the premium you pay each month. Here are a few tips to keep in mind.

How Can You Pay Less for Health Insurance?

1. Quit Smoking

Health insurance providers typically charge smokers more for coverage. That’s because of the potential health problems related to the habit, like emphysema. If you smoke, make a commitment to quit. Your existing health insurance provider may also offer treatment options to help you stop successfully. 

2. Open a Health Savings Account

A health savings account (HSA) allows participants to deposit funds specifically for health care expenses. Your contributions are tax-free, and if your employer offers HSAs, they may also contribute.

Your co-pays, prescriptions, and other treatment costs are paid through the account, which can lower your health insurance premiums. Contributions roll over each year, and you might be eligible for an HSA tax deduction when it’s time to file your return. 

3. Raise Your Deductible

If you can afford it, consider increasing the deductible on your health insurance plan. By paying more out-of-pocket, you’ll likely be able to lower your premiums.

To help cover your costs, open a savings account at a bank or credit union that is strictly for emergency situations such as unexpected health care costs. Arrange to have automatic deposits from your paychecks so that you can build a substantial nest egg. 

4. Stay In-Network

Always visit doctors, hospitals, urgent care, and other medical facilities that are in your insurance plan’s network. This will help keep your premiums down because network participants have already agreed to provide service based on your coverage. When you go outside your network, you’ll likely pay more for services, which can affect your premiums.

You can get the most from health insurance coverage without breaking your budget. Toohey Insurance Services in Somerset, KY, helps clients by providing affordable and customized coverage. This independent agency partners with more than 30 insurance leaders to bring you reliable protection. If you’re in the market for a new policy or have questions about your existing one, call (606) 678-0540 to speak to a friendly and professional insurance agent. Visit their website for additional coverage information.