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.
