17% of all Americans don’t have any kind of health insurance. This is culled from a report by the American Census Bureau. It’s vital to stress that group health plans are the reason why the majority of these people who have health insurance can afford it.

This, unfortunately, may soon be a thing of the past as many business owners might soon exclude group health insurance from their employment allowance because they’ve become quite tasking on their businesses. The increasing cost of health care is responsible for this situation.

This suggests that for most persons to have any form of health insurance, they would have to fend for themselves. And because it will naturally cost a lot more to have individual health insurance, steps to savings on health insurance would be seriously appreciated.. Let’s see several ways you can lower your individual health insurance costs.

Smoking will cost you very high rates. It’s not debatable that smoking is the leading cause of cancer and other deadly diseases.

It costs health insurance companies much more to provide health insurance to smokers due to the bad risk they are to them. If you can quit smoking you will attract rates that are dramatically cheaper when you reapply after 12 months.

That extra weight will make you spend a lot in health insurance. There’s something known as Body Mass Index (BMI) which is used to determine a prospect’s premium.

If your BMI rating is high, your premium will be high. The more extra weight you have for your height and sex the higher your BMI rating will be. And do not think that you will get savings only when you lose 50 pounds, just losing a few pounds will lower your rates once it lowers your BMI rating.

It is now commonly known that smoking causes higher rates. What many might not know is that the same also applies if you use any other type of tobacco product. Individuals who snuff or chew tobacco will also get higher rates than people who don’t

So for your health and lower rates, quit using any tobacco product.

Paying your premium once a year will attract cheaper rates than opting for monthly payments. Even though this option is often more convenient, it is more expensive for some reasons.

There are transaction charges that are incurred when processing a check. For twelve payments (that is, your monthly premiums) you will have a total of twelve transactions. This means that you’ll pay transaction fees twelve times.

Apart from this, there are also administrative costs that come with the monthly payment option. For instance, it costs some money to send payment notices monthly.

These costs plus a profit margin for this “value-added service” is factored into your premium making it more than the same profile that pays annually every year.

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