Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Work with an independent health insurance agent/broker so you can compare plans from multiple carriers. You should also review what type of coverage you have to see if it's most suitable to your needs.
If you have one of the new "metal" plans on or off the health insurance exchanges, you should review what metal level you have (bronze, silver, gold, or platinum). If you have a gold plan, you may want to look at silver or bronze to reduce your premiums. In doing so under this method, your taking on a larger share of healthcare expenses when they're incurred.
Keep in mind, the cheapest plans will offer the least protection (meaning you're taking on more risk to keep the premiums down) - in general, programs with better protection (e.g. lower deductibles, coinsurance, copayments, etc.) will feature higher premiums.
You may also want to see if your employer is offering group coverage benefits for its employees. Under group plans, the employer is paying a portion of the premiums - the drawback being if you left the employer/were fired, your coverage would not go with you.
You can only apply during the annual enrollment period each year, unless you qualify for a special enrollment period (a "life-changing event" such as getting married, having a child, etc.).
.JPG){kind=avatar}
If you have one of the new "metal" plans on or off the health insurance exchanges, you should review what metal level you have (bronze, silver, gold, or platinum). If you have a gold plan, you may want to look at silver or bronze to reduce your premiums. In doing so under this method, your taking on a larger share of healthcare expenses when they're incurred.
Keep in mind, the cheapest plans will offer the least protection (meaning you're taking on more risk to keep the premiums down) - in general, programs with better protection (e.g. lower deductibles, coinsurance, copayments, etc.) will feature higher premiums.
You may also want to see if your employer is offering group coverage benefits for its employees. Under group plans, the employer is paying a portion of the premiums - the drawback being if you left the employer/were fired, your coverage would not go with you.
You can only apply during the annual enrollment period each year, unless you qualify for a special enrollment period (a "life-changing event" such as getting married, having a child, etc.).