In a previous article, Evaluating Health Insurance Options: The Basics, we talked about different places you can find health coverage that you may be eligible for, an alternative to health insurance and the basic types of health insurance plans offered.

As I covered in that first post, Steve and I have recently shopped for health insurance as his new employer coverage was quite expensive both in the premiums we would pay and the out of pocket costs to us via the deductibles.

So, we decided to get creative and really vet all of our options.

Please understand: I am not a health insurance professional. I have shopped for it personally, as well as for health insurance companies in my positions as Controller and CFO. These are my points of view based on my own experience.

Pay Attention to the Variables – They Affect Your Costs

The various options are likely to make your head spin; it is no wonder people stress over choosing health coverage. But you need to pay attention to the variables in your plan options because that is what drives the cost of the premiums. At the most basic level, you save money on premiums when you take on more risk and you pay more for premiums when the insurance company takes on more risk. Here are some things to consider:

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