The answer is simple:  a methodological approach.  Begin with the basics, such as your personal situation and needs, and go from there.  This may sound counterintuitive, given how many people make a health insurance choice purely based on price.  However, finding a plan that really fits will minimize what you pay throughout the life of the policy.  Here are some tips and tricks to making a strategic, informed decision:

Analyze your lifestyle.  Do you work in a high-risk job, or sit at a desk all day?  Do you prefer white water rafting or knitting in your spare time?  For those who lead sedentary lifestyles, reside in safe areas, and take little bodily risk, a plan that focuses on routine care and health maintenance and prevention might fit.  Alternatively, those who are active, athletic, or accident prone may consider plans that make provisions for sports medicine and well-priced acute and emergency care.

Understand your current expenditures.  By understanding your current spend on different categories of health care product, you will optimize your health insurance choice by choosing a relevant plan.  Do you spend most of your money on prescriptions?  Co-pays?  Do you buy a great deal of over the counter drugs?  Knowing this kind of information can guide you around whether you are better off with extras like HSAs, and will help you understand your ideal participation level.

Anticipate your health care needs for the next five to ten years.  Though you may be perfectly healthy now, take the time to brainstorm predictable life changes.  Do you have a plan to start a family soon?  Are you approaching an age group that has heightened risks for certain diseases?  By being mindful of the changing phases if your life while making your health insurance choice, you will set yourself up for success.

Click Here Before You Make Your Health Insurance Choice!

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