For Employers

• 1). Find the most efficient way to provide health insurance to your employees. From PPOs to HMOs, many different plans are offered, depending on the size of your company. Only offer benefits your employees will use; this keeps the premiums down and decrease costs for both you and your employees. For example, don't offer vision insurance if none of your employees need vision correction.
  
  
• 2). Consider increasing the deductible on the current plan. This can keep premiums low, although it does cost more for your employees until they meet the annual deductible.
  
  
• 3). Provide employee incentive programs. Hold a contest to see who can lose the most weight or offer smoking cessation programs. The healthier your employees are, the lower your premiums will be due to decreased frequency of doctor visits and chronic illness.
  
  

For Consumers

• 1). Consider starting a Health Savings Account. An HSA is a savings account that you put pre-tax money into to save for medical expenses. If you have a high deductible, this is a good option to look into.
  
  
• 2). Exercise and eat right. Use good judgment in your health decisions and this will save you a few trips to the doctor each year, thus cutting your out-of-pocket costs.
  
  
• 3). Stay in-network. Only use providers that are part of your insurance company's network, or risk being charged a higher co-pay or having to pay completely out-of-pocket. If you must go out-of-network, try to negotiate lower fees with the provider and insurance company.
  
  
• 4). Take generic medication instead of brand name. This will save you a significant amount of money. Ask your doctor to write you new prescriptions to replace your brand name prescriptions with generics. Sometimes it's more advantageous to use the brand name, so ask your doctor about this before accepting a generic prescription.