Medical Insurance Plans help you pay for your expected as well as unexpected medical expenses and thus, save you from financial crisis. It is, basically, a promise by an insurance company to provide or pay for medical expenses in exchange for payment of premiums. Your contract can be renewable annually or monthly. Broadly speaking, it includes insurance covering disability or long-term nursing or custodial care needs.

It can be obtained through various insurance companies in the market that provide coverage to a group of persons or to an individual consumer. The covered group or individual can avail protection from medical insurance by paying the premium. The insured is free to choose the health care provider. The health care provider can seek reimbursement from the insurer.

The type of coverage and amount of medical costs that will be covered are specified in advance by the insurance provider. You can exclude expenditures on health insurance plans from taxable income if you have obtained it from your employer as a benefit of employment.

The cost of health policy depends on the type of plan, the state of residence, the age and health status of the insured and the benefits. Here are some useful ways to attract cheaper rates...

1. Go for free clinics if you intend to reduce your cost. Such free clinics will cater for simple things like giving you with medical advice, blood pressure checks etc. Clinics like these are normally rendered as community service.

2. Occupations that are seen a hazardous get higher premiums. You can lower your premium if you change to another line of duty that does not expose you to hazards.

3. It is good to look through your policy at least yearly or as often as you think changes have occurred in your health or that of a member of your family. Although you may not really save anything by doing this, you'll ensure you have enough coverage this way. While doing this routine check you can also notice coverage no longer need.

4. It is in such cases that you will save by doing this considering that you would do the right thing and drop such unnecessary coverage. Consider a scenario where you still leave your newly-wedded daughter on your family health insurance policy with the consequent higher rates. It may only become obvious when you get your yearly payment notice.

5. The most important key to huge savings in health insurance is comparison shopping. You can get quotes that will have a huge difference in cost of your plan. You could quickly save so much by simply going with the lowest quote.

If you're looking for the best value to price ratio then you would have to look at the details of the lowest offers. Different insurance companies may have different exclusions for similar insurance plans. Therefore, it's important that you ask the agent what's part of the deal and what's not.