Lower Your Health Insurance Premiums In 5 Steps

Want to pay less for your health insurance? Follow these 5 steps and you could see your premiums drop significantly. And if you’ve been turned down for health insurance in the past, these steps could help you get approved.

1. Choose A Good Agent

Not all insurance agents are created equal. The agent you choose to work with should have a superior knowledge of the industry.

Applying for too many plans can be bad news. All those applications are red flags to insurance carriers, and can cause them to give you higher rates — or reject your application. Your agent should be familiar with a variety of plans from several carriers. They should be able to look over your medical history and find you the best rates. And they should steer you away from carriers that will give you the worst rates.

2. Find Out What The Criteria Are

Different insurance carriers have different ways of deciding how much you should pay for insurance. So the trick is to think about what previous health conditions you’ve had. Then talk to an independent agent or broker to find out which carriers will likely overlook those conditions.

This is one of the advantages of using an independent agent or broker — they know their way around the insurance industry. They can tell you which plans will serve you the best, and which ones will cost you a fortune.

Your broker may also have relationships with underwriters — the people who actually determine how much risk you have, and how much the company should charge you. If they do, they can often plead your case for you, and negotiate you a better deal.

3. Tell The Truth

There’s one thing to remember about insurance companies: they can find out if you’ve lied about your medical history. So when you’re talking to an agent, be candid about your medical history. Give them the complete truth.

Being upfront may mean paying more in premiums if you’ve had a serious condition. But if they find out about something you didn’t tell them, it could cost you. And getting caught in a lie can mean having your insurance policy revoked — and having to pay your healthcare expenses on your own.

4. Live Healthy

We all already know this one, right? It’s worth repeating anyway.

Eat healthy. Exercise regularly. If you smoke, quit.

The healthier your lifestyle, the less you pay for insurance. For more information on living a healthier lifestyle, visit www.mypyramid.gov.

5. Shop Around

Don’t apply with a single insurance company. You can find much better rates by working with an independent agent or broker. Independent agents work with several carriers, so they know who has the best and most affordable plans.

And you don’t just have to work with one agent. You can compare quotes from competing agents to find the best prices. You may be surprised how much you can save.