For the self-employed individual there are many actions that they can take to help reduce the high insurance premiums they have to pay. Some options will mean leaving out some options while others may be the amount of deductible you are prepared to meet.

You can also join discount health guide plans where you may pay low premiums for the services you need. Almost all these options involve you carrying the risk on your own resources.

Lower Premiums By Excluding Routine Office Visits - If you are in good health, have no dependents and with few health issues, you may want to consider taking the catastrophic insurance plan. This may provide the coverage you require.

For a monthly premium of just under $100, you would have a cover for the unexpected illnesses or accidents, providing you the cheapest cover possible. You can go online on the web to where you can get the best rates. You may even be able to make your application online.

Pay Higher Deductibles to Reduce Premiums - With this cover, the insurance company will only pay for medical health costs that exceed an agreed figure. Any bill up to the agreed figure will be for your account. If you increase the deductible, the monthly premiums will be reduced.

This will however mean that for each medical expense that you incur, your out-of-pocket slice of the cost will be very high. This will, however, be preferable to going without any health insurance cover.

Get Large Discounts by Paying Premiums Annually - Should you wish to save money on your premiums, you can pay your premiums annually. By paying annual, most health insurance providers will reduce your premiums by a goodly sum. The savings on premiums will be considerable.

Use a Medical Savings Account - The MSA is a government defined health care program to assist people working for small businesses or the self-employed to afford health insurance. The money that goes into the Medical savings Account is not taxed. This money is to be used for medical expenses.

You could take out a low-premium high deductible health cover together with an MSA. This amount will be available for use should you need to cover the high deductible for any medical expense. The taxes can also be reduced on the balance of the savings.

Include Tax Deductions for Your Health Insurance- On making your annual tax returns make sure to include your health insurance cover expenses. You can still deduct from your income as much as 70% of the expenses incurred towards health insurance when you file the tax returns.

Article Resource