10 tips to save on health insurance

The health and wellness of you and your family is one of those things in life you can't put a price tag on. Health insurance is a good idea because it provides coverage for regular doctor visits, and also sets your mind at ease should a health emergency occur. Most plans also cover prescription drugs as may cover other needs such as mental health and homeopathic care. We have put together a list of a few tips and tricks to help you save money on your monthly health care premium.

1.  Don't skip it- Yes, health insurance does cost money, but not having it will cost you more in the long run. Unfortunately, accidents and medical mishaps are unpredictable. Always have some type of coverage to avoid the stress of high medical bills.
2. Take advantage of your employer's insurance- These are cheaper (and often higher quality) than individual or private plans. Most will provide coverage for others in your household so long as they are dependents. Children are covered through college graduation, or if they don't attend college, until age 19.
   
3. Generic drugs- Whether or not you have drug coverage, you will save money on your co-pay by using generic drugs. Ask your doctor to prescribe you a generic version if possible. Read additional tips on saving on prescription drug costs with our article "Eight ways to save money on prescription drugs"
4. Avoid the E.R.- Unless you really need the ER, a doctor's visit or urgent care center is always cheaper. Co-pays are always higher than regular doctor visits (Up to five times higher, actually) Consider checking into an urgent care clinic instead.  Everyone's co-pay is different, but a typical spread would be $25 for the doctor's visit, $50 for the urgent care center, and $100 for the ER visit.
5. Raise your deductible- Did you know raising your deductible can decrease your monthly premium up to 40%? And, with a flexible health spending account, it doesn't need to come immediatly out of your pocket.
   
6. Expect a few loopholes- Does your plan cover mental health? Prescription drugs? If so, how many of them. Analyze your policy for any coverage you may need. For example, if you have to take heart medication every single day, it would pay in the long run to pay a premium on a plan that covers your medication, rather than paying a cheaper premium as well as the cost of the drugs.
7. Know where to go in case of emergency- To avoid added stress in an emergency (and going to a non-covered hospital in panic), research and know where hospitals take honor your policy are located, and how to get there.
8. Consolidate wisely in houses with more than one income- If you and your spouse are both offered different health insurance programs through your employers be sure to choose the one that has the best benefits at the lowest cost.
9. Stay "In Network" - The deductibles and covered amounts become much less favorable when you visit a doctor or healthcare facility that's not in in the insurance provider's network. Be sure to call, or use the provider locator feature that your insurance company provides.
10. Compare plans- A good piece of advice for any type of insurance. All plans differ slightly, and it is worth your time to shop around and compare.  Employers will typically offer at least an HMO and a PPO, and may also offer lower and higher deductible plans.  If you have to shop for individual insurance, comparison shopping will be even more important.