Most of the people who don’t pay health insurance premiums themselves never take care about amount of money spent on it. The reason of such indifference is a thought that if premiums are paid by their employer it takes no effect to their family budget. Actually that’s not truth because influence of increase in health insurance premiums to the sum of pay-check is already proved.
So, it would be good for everyone to think about how to reduce health insurance premiums, but many people afraid to get a cheaper insurance plan. The reason of such a fear is an idea that low-cost plans can not cover necessary medical help, but for today it’s not the case at all. So, if you’re already want to save your money, let’s learn some ways of doing it.
First we'll look through employer’s ways of lowing premiums:
1. Deductible franchise. Classical solution for this situation is a raise of deductibles. Yes, it can be not very favorable for employee, but that’s a great way to reduce premiums. And anyway deductibles can be covered by opening a health savings account, which saves more, cause all transitions are tax free.
2. Amount of co-pays. Another way is changing an amount of co-pays, but it shifts more risk to employee, so you should to be more accurate with it.
3. Corporate Wellness Programs. One more point for insurance company to lower your premiums is a corporative wellness program, because If your employees become healthier it reduces risk of illness rapidly.
And now let’s find out what can be done by employees to lower health insurance premiums.
1. Pernicious habits. Stop smoking, because smokers are given higher ratings on health insurance quote. Moreover, if we are talking about a group health insurance that means that everyone’s premiums include payments for someone’s bad habit.
2. Dangerous hobbies. Not everyone knows but hobby can also increase health insurance premiums. That happens if some of employees in your company are interested in dangerous hobbies or activities, such as skydiving or climbing.
As you see health insurance premiums can be reduced, and everyone in your company can take a part in its reduction.
Health insurance premiums always influence our family’s budget even if we don’t know about it. If you prefer to spend your money for more interesting things, this plan is for you. Discuss it with your employer and maybe your pay-check will grow next time.