Yes, it’s true that health insurance is very, very expensive, but however expensive it may be, that doesn’t necessarily mean that you will save money by not having insurance. For example, let’s say that you have an insurance plan that costs you $200 per month ($200 a month is probably about average for a single private insurance plan, outside of potential employer coverage). Annually, you’ll be paying $2,400 for your health care coverage. If for any reason during the course of the year you are hospitalized for any reason, you could end up spending at least $2,400 while being hospitalized. A minor car accident can cost thousands of dollars, and major illnesses, cancer, etc. can cost hundreds of thousands, if not more.

Just keep the big picture in mind when considering health care coverage.

We’ve all seen the commercials – smoking is bad for you, smoking kills. If you’re a smoker, you are more likely to have health problems, so of course, the insurance company is going to charge you a higher premium – they’d be idiots not to, because as a smoker, you’re more likely to need medical treatments than a marathon runner.

Other things to keep in mind is drinking alcohol and eating/overeating. Overeating often leads to being overweight, and overweight leads to health problems. Typically obesity can cause a large number of problems, so again, being overweight will cause insurance premiums to rise as well.

Anytime your employer (or your spouses employer) offers health insurance plans, taking advantage of a group plan will almost always get you the best rates possible – definitely better than if you were to try to get the same plan privately. In some instances, it may even be beneficial to have coverage from both employers: the husband’s and the wife’s, but keep in mind that double coverage will not allow you or your providers to collect payment on more than 100% of the cost.

Working couples with insurance from two employers may be able to get more or pay less than one-income couples. Depending on the premiums and benefits of each available plan, the best deal may be separate coverage for each, double coverage for both, or forgoing one spouse’s coverage in favor of the other’s. If you have kids, you’ll need to compare your options for family coverage.

Another way to get a good family medical insurance policy is to look at other groups, clubs, associations, etc. that may offer it. You may already belong to some group that gives its members group health insurance; such as USAA. Both my wife and I are eligible for USAA coverage because we’ve had family members who have served in the military. If you’re in the market for health care coverage, it may be a good idea to look into joining a group or association that could offer discounted health care plans and coverage options.

When it comes to saving money on health insurance, the best advice I could give is to make sure that you’re not paying for something that you don’t need, or worse off, something that you’ll never use.

There are many different health insurance companies out there, and there is no question that each company offers many plans that greatly differ from the plans that the next company offers. Talk with an insurance broker and discuss your wants and needs. Your insurance broker will be able to find insurance plans that fit you specifically to make sure that you are not paying for unecessary coverage.

For instance, if you’re a newly married couple who has decide to focus on your careers for 5 years prior to having children, it would be a good idea to consider coverage that does not include maternity care.

My health insurance premium increased by about 25% this year. I’ve heard of increasing premiums, but this seemed a little bit excessive. I tried calling my health insurance provider for an explanation, but in addition to “the run-around”, the only answer that I really got was that my insurance premium was increasing due to the increasing costs of operations and providing health insurance coverage to subscribers.

Is it time for me to start shopping for a new health insurance provider? I don’t know if I can continue to keep paying these high premiums, and next year when my policy renews, will I be in for the same type of increase?

The only thing that helps me justify the high cost of my health insurance premium is the fact that health insurance and medical expenses are tax deductible. Not that being able to write-off my health insurance cost actually justifies the high price, it really only gives me an excuse to keep paying for it.