1. Insurance costs a lot but having none costs more.

There are sensible ways to save money on insurance, but skipping coverage isn't one of them. Medical bills from even a minor car accident can deplete your savings - a major illness can push you into bankruptcy.

2. If your employer offers insurance, grab it.

Group coverage, particularly when it's employer-subsidized, is almost always a better deal than anything you can get on your own, even if you're young and healthy. If you're NOT young and healthy, it's definitely a better deal.

3. Comparing plans is tough but necessary.

Unfortunately, there is no such thing as standard coverage. Benefits and costs vary widely from plan to plan. If you have choices, you'll have to examine each one closely to find the best deal.

4. The lowest premium isn't always the cheapest plan.

What your insurance covers is just as important as, and sometimes more important than, what you pay up front. Ultimately, the cheapest plan is the one with the best price for the benefits you're most likely to use.

5. Even good coverage can have big loopholes.

You can count on your health insurance to cover you for a hospital stay. Most policies cover doctor visits, but benefits for mental health, prescription drugs and dental care are strictly optional.

6. You'll pay more for freedom.

Plans with the most comprehensive coverage at the lowest out-of-pocket cost require you to use a specified network of hospitals, doctors, labs, and other providers. The more flexibility you demand, the more you'll pay, in either premiums or co-payments.

7. You can check out networks before signing up.

A growing number of public and private sources compile information on the track records of individual doctors, hospitals, and health plans.

8. You can keep your insurance if you lose your job.

State and federal regulations protect you from losing your health coverage in the event you lose your job. Unfortunately, they offer little protection from high premium costs.

9. Working couples have more to think about.

If you and your spouse both get health insurance at work, you must sort out whether it makes more sense to have two policies or for one of you to cover the other. If you have kids, you need to decide who's going to cover them.

10. Tax breaks can help.

Ordinarily medical expenses, including insurance premiums, are not tax deductible until they exceed 7.5 percent of your income. However, if you're self-employed or your employer offers a flexible spending account, you can get a tax break without meeting the threshold.

Very good post! With health care being the main focus of debate in this current presidential election, having some information to compare can make the health debate less daunting.

Also some things to keep in mind when looking at the health insurance plans. Always check plans "Maximum out of Pocket".

Stay away from Association Health insurance plans, most of them are scam.

Get plans through big name insurance company that you heard of.

It's very important to shop around and when it comes to important things such as healthcare it is always bad to try to safe a few dollars when selecting your insurance plan.

Many people try to get something cheap and then get stuck with huge bills when something happens. Usually you get what you pay for. You should look for value and good coverage and not for a cheap insurance premuim. Read the fine print and know what will be covered to avoid potential problems in the future.

very good views. thank for this information.

I'll add to this excellent information...

Make sure if you are getting individual coverage that you are actually purchasing insurance and NOT a discount program. Most of these discount programs promise extraordinarily low rates, yet there are a myriad of problems with them (including many common items NOT being discounted). Some of these "discount programs" are marketed like insurance and may even be total scams.

Some good points by all.

Health insurance is misunderstood by many. Some seem to think it is a way to "come out ahead". Not so. Like all insurance, health insurance is a way of "sharing the risk", not "winning the lottery". Pregnant women call frequently to get insurance coverage. This is like calling for a quote on auto coverage while your car sits smoking in a pileup! One lady called to get insurance because she wanted to get a gastric bypass surgery done to help her lose 250 lbs. It doesn't work that way. Would you buy a ticket on a sinking ship? Neither will the insurance company.

It is important to understand a couple of things about insurance.

1) Group insurance. This is something you get through an employer or association of some sort. It is guaranteed issue, but you may have certain waiting periods on pre-existing conditions if you have not had prior creditable coverage without a lapse of no more than 63 days. It is often more complete coverage, or more inclusive, but costs more money. Many individuals think it is cheaper; that is because it is subsidized by their employer by as much as 70% or more. If you want to know the true cost, ask about what it would be to have COBRA continuation of coverage. Now you are paying the full amount and this is when most people start looking at individual policies. Company policies will be rated according to the least healthy individual in the group. This is one reason many employers tend to hire younger workers. If someone in the group wants maternity coverage, all will pay the higher rate. If someone has a heart attack, all will see an increase in their premium.

2) COBRA insurance is a continuation of the same company policy you have been on, but now you are paying for it instead of the employer. This coverage is allowed for a limited time for the purpose of having continuous coverage (no lapse) until you qualify for coverage with your new employer.

3) Individual policies are for families without group coverage and tend to be 30-50% lower in cost in most areas. This is because they are not guaranteed issue in most states. You will have to go through underwriting and will get the low street rates only if you are healthy and lead a healthy lifestyle. This insurance will exclude certain lifestyle or professional activities like skydiving, rodeoing, base jumping, hang gliding, small airplane pilot, police, firemen, exotic dancers, and more. It also excludes health conditions like diabetes, heart conditions, cancer, high blood pressure, schizophrenia, bi-polar, and several medications. Other conditions may be allowed, but at a higher policy cost.

4) If you no longer have access to a group policy, and you do not qualify for an individual plan, you may qualify for your State Risk Pool. This is not always available, and never cheap. But for many, this is better than not having insurance at all. This is the area that is most in need of some new solutions, probably through legal or (I hate to say) governmental intervention. But everyone who wants insurance, needs access.

5) The lowest cost solution, may not be right, or at least not the same for everyone. If you are young and have kids, you probably need a policy with Dr visits as part of the plan with a low co-pay. If you are older and haven't needed to see a doctor in a couple of years, have no young children, or have enough cash in the bank to self insure, you could buy a low-cost, high deductible plan for hospital only. Your needs and probable use should dictate the plan, not just the premium.

6) For some folks with disqualifying medical conditions, or a small budget, having a discount plan or scheduled fee for services plan may be their best option at this time. Find a broker who understands the differences, and has options to sell, or integrity to send you to what is best for you.