With health insurance premiums
skyrocketing, you may wonder what you can do to lower the amount you pay for
your policy. Some factors that influence your health insurance are outside of
your control, such as your age and any pre-existing conditions you may have.
However, you can control some reasons for higher premiums, potentially lowering
your price.
# 1: Gaining Excess Weight
Individuals who are overweight or obese based on their Body Mass Index, or BMI,
will typically pay premiums much higher than those of their average-weight
counterparts. If you are overweight, make a commitment to losing the extra
pounds; after all, the cost of hiring a nutritionist or personal trainer pales
in comparison to the added insurance premiums and medical bills associated with
being overweight. However, if you are heavier than average due to activities
like weightlifting, but are actually healthy, some insurance companies will
waive the extra costs by using a body fat measurement. Check with your specific
provider for details.
# 2: Not Participating in Wellness Programs
Some insurance providers will actually give you a discount on your premium if
you get a yearly physical or attend health-related workshops to address any
potential health issues like smoking, excessive stress or diabetes. Wellness
programs can help prevent health emergencies before they become serious, saving
both you and your insurer plenty of money, so they are well worth taking for
multiple reasons.
# 3: Not Updating Personal Information
If you used to lead an occasionally risky lifestyle years ago, your health
insurance company may still be charging you an elevated rate. For example,
horseback riding and skydiving can both garner a higher premium. Call your
insurer to make sure you are not being unfairly charged if you have given up
your high-risk hobbies.
As you can see, while some factors that influence your health insurance premium
are beyond your control, there are some that you can change. Making a call to
your health insurance provider and asking about possible discounts could
potentially save you hundreds of dollars each year.