The Most-Missed Health Care Options

4. Change your flexible spending account contribution

If you have seen an increase in co-pays and deductibles on your health insurance, it might be worth it to increase your monthly contributions to a flexible savings account. Your contributions are pre-tax, and they can help you cover expenses that your insurance policy doesn’t. Make sure you understand the limits on contributions, and realize that if you do not use the money in your account by the end of the year, you will lose it.

5. Consider a high deductible health insurance plan

If premiums are becoming too much to handle, you might consider a high deductible health insurance plan. These are plans that require you to pay more out of pocket, but come with lower premiums — sometimes drastically lower premiums. If your employer offers a high deductible option, you can save on your premiums. Combine your high deductible health insurance plan with a Flexible Spending Account or a Health Savings Account, and you can ease the difficulties associated with paying more out of pocket while receiving tax benefits. Warning: A high deductible plan may not be practical for someone with frequent illnesses and very high health care costs.

6. Employer health incentives

Some employers are offering incentives and discounts for those who are willing to go the extra mile to prove their healthy lifestyle. Find out whether or not your employer has incentives if you are willing to take a blood test, fill out a health questionnaire or join a gym. If you can prove your efforts to boost your health, you might eligible for special employer programs.

In the end, make sure that you carefully review your options. You want to make sure that you have the coverage you need, as well as ensuring that your employer sponsored plans are working for you.

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