Having access to quality health insurance can make it easier (and more affordable) to maintain your health in the future. If you are new to navigating the world of health insurance, there are some things you need to know in order to ensure that you are making the right decisions when it comes to your insurance plan.

Here are three important things to keep in mind as you start shopping for health insurance coverage.

1. Ask your insurance company about wellness incentives.

If you are looking for a way to cash in on your good health, you might want to consider partnering with an insurance company that offers its policyholders access to wellness incentives.

Many insurance companies recognize that healthy policyholders will cost them less to insure over time, so they offer cash rewards for engaging in behaviors like regular exercise, purchasing healthy foods, or reaching specific weight loss goals. Be sure that you ask your insurance company how you can take advantage of wellness incentives to help lower your insurance premiums in the future.

2. You may be eligible for coverage under your parent's insurance plan.

Many young adults struggle to find affordable insurance coverage. If you are having a hard time paying your monthly premiums while establishing yourself in your chosen career, you may want to check and see if you are still eligible for coverage under a parent's insurance plan.

Under the Affordable Care Act, you have the right to stay on a parent's insurance plan until you reach the age of 26. This right is extended to you even if you are married, attending school, or employed at a full-time job. Since family plans can be more cost effective than individual insurance plans, retaining coverage through your parent's health insurance as long as possible could be beneficial.

3. Check to see if you qualify for a health savings account.

If you anticipate some upcoming medical expenses in the near future, you may want to consider the benefits of opening a health savings account (HSA). If your insurance plan has a high deductible (defined by the IRS as greater than $1,300 for individuals and $2,600 for families), then you are eligible to contribute pre-tax money from your paycheck into a special HSA that can be used to cover your medical expenses.

An HSA account allows you to pay for your out-of-pocket medical expenses tax-free, which could save you a significant amount of money over time.

Understanding these important health insurance concepts will help you take advantage of the coverage options available to you in the future.  For information, contact an agency like David Paulson Agency Inc.