What are the top 7 things you can do to lower your health insurance costs?

  • January 4, 2023


As a self-employed person, you’re well aware that health insurance can be costly. However, there are ways to lower your health insurance costs. I wanted to give you 7 tips so you could cut your premiums even more. If you are looking for ways to lower your health insurance costs, I’ve got some tips for you. I’ve used many of these strategies myself, which helped me drastically cut my insurance premiums.

In this article, we’re going to show you how the top three things you can do to lower your health insurance costs. These aren’t new ideas, but this is the first time I’ve seen them summarized so succinctly. Your health insurance may be the one thing you spend a large chunk of your budget on. But you can do things to lower your costs. From knowing what providers charge, to negotiating better terms with your current provider.

Shop around

The first step to lowering your health insurance costs is to shop around. Health insurance premiums are based on a number of factors, including:

Age and gender

Medical condition


Company size

Employer size

The best way to save money on your health insurance is to shop around. If you have a choice of insurers, go with the one that offers the best rates and coverage, as well as a good customer service department.

You can also contact your state’s insurance department or local health department for advice on how to find the best plan with the lowest cost.

The best way to lower your health insurance costs is to shop around. Even if you already have a plan, it’s important to shop for a new one every year.

If you’re shopping for insurance on your own, start by asking your doctor or other medical providers whether they accept new members as patients. If so, ask if they’ll recommend that you visit the same clinic or hospital when you need care. If they won’t, consider finding a new provider who will take you on as a patient.

Another option is to buy insurance directly from an insurer instead of through an employer or union. Some insurers offer lower-cost plans than those available through employers because they don’t have to pay large administrative costs or meet strict requirements like those imposed by unions.

Check your plan every year

The best way to lower health insurance costs is to check your plan every year. Most plans offer a free annual review of your plan and its features, which can help you find out if there are any changes that need to be made.

 You should also check with your doctor or another healthcare provider about any new medications or treatments that you are planning to use. This will help you make sure that your coverage is still adequate for what you need.

You should also check if there are any additional costs that may have been included in your previous plan as part of the premium increase. For example, if there was an increase in co-pays or deductibles, this could mean higher monthly payments for you and your family members.

Be sure that all of the terms and conditions of your insurance policy are clearly outlined on its application form so that everyone involved understands what they mean and how they affect their coverage.

You should check your plan every year to make sure that your policy is still providing the same coverage and benefits. If you notice any changes or new additions, contact your insurance agent or provider to ask about the changes.

You should also compare different plans from different companies. This can be done by looking at their websites or contacting them directly for a quote. Most companies allow you to apply online, so it’s easy to get quotes from multiple insurance providers at once.

When you renew your policy, it’s important to take some time to check your plan for any changes. This can help you lower your health insurance costs.

While some of these changes may be minor, others could result in major savings. By checking your plan every year, you can find out if there are any changes that will help lower your premiums or increase your coverage options.

For example, if you live in a state with high medical costs but also have a good Medicare program, you might want to look into switching to Medicare coverage at age 65. In addition, if you have a family member who is in poor health and needs expensive care, it’s possible that they could qualify for an additional policy that covers their medical expenses after they retire or pass away.

Pay your bills on time

Paying your bills on time is one of the best ways to lower your health insurance costs. When you pay your bills on time, you are not only saving money in interest and late fees but also increasing the length of your credit history. This will help you qualify for better rates on future purchases.

It’s easy to forget about paying bills until they are due. However, paying them early is essential if you want to avoid getting slapped with a penalty or late fee.

If you’re unable to pay off a bill before it’s due, then contact the company and ask them how much extra money would be required. And if you still can’t manage to make the payments, consider asking for a deferment or loan from someone who can help out financially.”

The best way to lower your health insurance costs is by paying your bills on time. One of the most common reasons people have to file for a claim is because they didn’t pay their bills on time. If you’re not able to pay your bills on time, then chances are that you will have to pay higher premiums to compensate for the late payments.

If you have a history of not paying your bills on time, then you may end up being declined for coverage by some insurance companies. In this case, it’s always better to make sure that you pay your bills on time from now on.

In order to lower health insurance premiums, you should pay your bills on time. This is the most important factor that can affect the cost of your coverage. Your insurer may require that you pay your premiums before they will reimburse you for any medical services or claim payments, so be sure to keep track of when you receive your bill and when you make the payment.

If possible, try to avoid falling behind on payments by setting up automatic payments from your checking account. You should also ask your insurance agent if there are any discounts available for making payments outside of the regular billing cycle, and if so, ask them to apply those discounts toward your premium instead of waiting until next year’s policy renewal date.

Take advantage of tax credits

If you’re self-employed, or if you have a spouse who’s self-employed, one of the first things you should do to lower your health insurance costs is to take advantage of tax credits.

The Affordable Care Act created a number of financial incentives for those who purchase their own health insurance. The biggest is the “Cadillac tax,”

 which takes effect in 2022 and imposes an excise tax on high-cost employer-sponsored health plans. The Cadillac tax was designed to make sure that high-cost plans don’t put employers at risk of going out of business due to rising medical costs.

As part of the ACA, Congress also created a number of other incentives for people who want to buy their own health insurance. One such incentive is the Health Insurance Marketplace Premium Tax Credit (or “subsidy”). This credit can help reduce your monthly premium costs by up to $4,000 per year for individuals.

If you’re looking for ways to lower your health insurance costs, there are steps that you can take.

Take advantage of tax credits. You may be eligible for a tax credit to help offset the cost of insurance premiums. The amount of credit depends on how much you make and whether or not you have children.

Ask about pre-existing conditions. If you have a condition that’s not covered by your policy, ask if they will cover it under a separate policy. This could save you money in the short term because it’s less expensive than paying for full coverage with high deductibles and co-pays.

Talk to your employer about health insurance options. Most employers offer some form of health insurance through their company’s benefits program β€” even if they don’t advertise it as such. If you’re employed by an organization that offers benefits through your employer, check out what is offered and see if it meets your needs and budget (and if so, how much it costs).

Check your plan

The first step to lowering your health insurance costs is to check your plan. If you’re covered by a major medical plan, you can call your insurer and ask if they offer any discounts or other options that might lower the cost of your coverage.

The first thing you can do is to check the plan. Find out if there are any gaps, such as waiting periods, or exclusions in the plan that you need to be aware of before signing up.

If you have a preexisting condition, make sure that your plan has a provision for it. If not, then look for another plan that does have a provision for it.

The second thing you can do is to look at the deductible amount and make sure that it is reasonable for your family’s needs. Make sure that this amount isn’t too high so that you may not be able to afford it after paying other bills like rent and groceries.

Before you buy a health insurance plan, it’s important to check your plan’s cost-sharing limits. These are the maximum out-of-pocket expenses that all covered individuals in the same household must pay, like deductibles and copays.

You can do this by calling your insurance company or visiting gov to see what you’re paying now.

If you’re able to find cheaper coverage elsewhere, consider switching plans if the new one has better coverage, features, and price points that meet your needs.

Stay healthy

The first step to lowering your health insurance costs is staying healthy. If you’re not, then your plan will likely give you a higher premium. You can also sign up for Medicare when you’re older, which will lower your premiums by about 25% if you’re 65 or older.

You can lower your health insurance costs by staying healthy and avoiding injury. If you don’t smoke, then you should be able to save a lot of money on your health insurance.

If you do smoke, then you really need to quit smoking. It’s not worth the money that you’re spending on cigarettes. If you’re overweight, then losing some weight can go a long way toward lowering your health insurance costs.

If you have high blood pressure or diabetes, then it would be smart to get treatment for these conditions as soon as possible so that they don’t become serious problems later in life.

People who are healthy tend to have lower health insurance costs because they don’t need as much care. If you’re healthy, you’re less likely to have a major illness or injury that requires hospitalization.

If you’re sick, however, the opposite is true β€” high-cost hospitals can get expensive when they treat people with serious illnesses. For example, an inpatient stay at a Level 1 trauma center costs about $1,000 more than an inpatient stay at a Level 2 trauma center.

Evaluate your insurance plan each year

Review your plan each year and evaluate it for coverage, deductibles, and co-pays. If you have a plan that is not meeting your needs, consider changing insurance companies or carriers. Also, compare prices of different plans on the same level of coverage and make sure that you are getting the best value for your money.

Compare health insurance quotes online. You can find out how much you would pay if you left your current health insurance company in order to switch to another company with lower prices. This can save you money if you do not want to leave your current employer’s health plan but need cheaper premiums.

If you have had a serious illness or injury in the past, check if your previous insurer will provide medical benefits or an equivalent discount after leaving their plan.

Most insurers offer this type of insurance as part of their policy terms and conditions. Some may require that you pay a premium for the privilege of receiving this benefit; others may charge a small administrative fee for providing this benefit.

The best thing you can do to lower your health insurance costs is to evaluate them each year. There are a lot of things that can cause premiums to increase, including:

Medical conditions that were not previously diagnosed

Treatment for new medical conditions

A change in your occupation, such as switching from an office job to one outside the office

If any of these factors apply to you, it’s time for a checkup. Contact your insurance company and find out what needs to be done in order for them to lower your premiums.

 If you have a condition that was undetected or untreated, it might be time for some medication education. You may also want to ask about any other changes that could impact your rates β€” such as moving into another part of town or heading back into school or training programs.


The main idea behind lowering your health insurance costs is that you can’t have a successful year if you’re spending too much on your health insurance. After all, there are only so many resources you have at your disposal before you can’t go on. Use these tips to get started. The coverage is key.

But, in terms of price, it’s all about the deductibles, co-payments, and other out-of-pocket expenses you’ll be responsible for. The first thing to do is compare prices and benefits. Once you have a handle on what all the different plans offer, you can then determine which plan best fits your needs and what will work financially for you.

The tips we have shared with you today should help you keep more of your hard-earned money. Remember, some of the best financial moves you make will be small on their own but their combined effect can translate into big savings. Continue to implement the tips we’ve shared above and good luck!