Although the US Congress recently passed a new health care law, the changes to current laws and the provisions of the new one do not go into effect until next year.  In the meantime, you are still paying those high-priced premiums that have been impacting your personal finances for several years now.  So what can you do in order to reduce the cost of your current health insurance premiums? The following is a list of suggestions for accomplishing this.


  • Become a member of a professional association – for example, why not join the farm bureau of the state you reside in order to get a better group rate on health care insurance.  Best of all, you don’t have to be a farmer or rancher in order to join these organizations.
  • Change your current co-insurance ratio – this is the amount you will have to pay once you have met your deductible requirements.  In most cases, you will be responsible for 20% of all the expenses that have exceeded your deductible amount while your insurance company will pay the remaining 80% of the total expenses.
  • Eliminate all dangerous hobbies and interests – any activity that carries a risk of serious injury should be eliminated from your lifestyle, such as car racing, skydiving, etc.
  • Open a health insurance savings account – you can usually open one of these accounts when you are paying for a higher deductible.  These accounts are considerably more lucrative, less of a hassle and tax-free compared to other types of spending accounts.


  • Raise your deductible amount – if you choose a deductible that is higher than what you currently have, it will help to lower your health insurance premiums just like it does with auto and homeowners insurance.
  • Shop around by pricing health insurance through an independent agent or broker – these individuals have access to numerous health insurance companies/providers so all it takes is a single phone call or visiting one website online to do all the comparison shopping you need.
  • Stop smoking – you hear it all the time, and for good reason.  Simply stated, a smoker pays higher health insurance premiums than a non-smoker since smoking leads to a number of different health and medical conditions.