The Motley Fool Previous Page

Get It Done: Score Cheap Prescription Drugs

Dayana Yochim
April 2, 2008

Getting the right health insurance setup takes time and -- in most cases -- money. Once you have your insurance in place, though, you can feel confident that you have most of your health-care bases covered.

Still, to ease the financial aches and pains of augmenting your coverage, it's nice to look for savings elsewhere. Here are some money-saving tips that will help you pay for health care and inject cash back into your wallet right away.

Get paid for passing on coverage.
Many employers offer cash to opt out of their health-care plan -- a good option if coverage is available on a spouse's plan or if you stay with your coverage but have your spouse's plan cover your dependents. Savings: The average opt-out award is $1,036 for individuals and $1,423 for families, according to the Employers Resource Council.

Kick the nicotine habit and cough up less on premiums.
Some employers charge workers who smoke (or have a tobacco-using dependent on their health plan) more for premiums. Quit the habit or enroll in a smoking-cessation program. Savings: $100 a month on premiums.

Brag about how much you can bench-press.
It's cheaper to insure healthy employees, and many companies offer