Insurance Expert Laura Bennett Shares a Smart Way to Cut Health Insurance Costs

The smartest way to cut health insurance costs is to compare total yearly cost, not just the monthly premium. In simple terms, that means adding up your premium, deductible, copays, coinsurance, prescriptions, and worst-case out-of-pocket exposure before you pick a plan.

That advice matters because health coverage is expensive. In 2025, average annual employer-sponsored premiums reached $9,325 for single coverage and $26,993 for family coverage.^[1] When costs are this high, choosing the lowest premium can backfire fast.

If you only look at the monthly bill, a cheap plan may seem like the winner. However, one urgent care visit, one MRI, or one brand-name prescription can wipe out that savings. This is why Laura Bennett’s core advice is so practical: buy the plan that is cheapest over the full year, not just on payday.

Expert insight: The cheapest plan on paper can become the most expensive plan the moment you actually need care.

Why This Strategy Works

Health insurance has two price tags. The first is your monthly premium. The second is what you pay when you use care. Many people focus on the first number and ignore the second. That is the mistake.

Federal Marketplace guidance tells shoppers to compare total yearly costs, not just premiums.^[2] That means you should ask one question before you enroll: “What is this plan likely to cost me over the next 12 months if I use care the way I usually do?”

That single shift in thinking can help you avoid the most common buying error in health insurance: paying less each month but far more over the year.

What Laura Bennett’s “Smart Way” Really Means

Instead of chasing the lowest premium, compare these six numbers for every plan you are considering:

• • Monthly premium: what you pay to keep the plan active.

• • Deductible: what you pay before many services start getting covered.

• • Copays: fixed amounts for doctor visits, urgent care, or prescriptions.

• • Coinsurance: your share of costs after the deductible.

• • Out-of-pocket maximum: the most you could pay in a bad year.

• • Network and drug coverage: whether your doctors, hospitals, and medicines are included.

If you compare all six, you stop buying blind. You also stop guessing which plan is “cheap.” A plan is only cheap if it stays affordable after real life happens.

Step-by-Step Guide: How to Cut Health Insurance Costs the Smart Way

1. 1. Estimate your care for the next year. List regular prescriptions, therapy visits, specialist care, lab work, planned procedures, and expected doctor appointments. Do not forget your dependents.

1. 1. Add the full yearly premium. Multiply the monthly premium by 12. This is your fixed cost.

1. 1. Model three usage levels. Run a low-use, medium-use, and high-use scenario. This gives you a realistic range instead of one hopeful guess.

1. 1. Check for subsidies and extra savings. If you buy on the ACA Marketplace, look for premium tax credits and cost-sharing reductions. If you qualify for cost-sharing reductions, you must choose a Silver plan to get them.^[3]

1. 1. Look hard at the out-of-pocket maximum. In a serious illness or accident, this number matters more than the premium. For 2026 Marketplace plans, the cap can be as high as $10,600 for one person and $21,200 for a family.^[4]

1. 1. Review the provider network and formulary. A lower-cost plan is not a bargain if your doctor is out of network or your medicine moves to a higher tier.

1. 1. Choose the best value, then review again next year. Health plans change every year. Premiums, deductibles, and drug coverage all move.

Real-World Examples

Example 1: The healthy freelancer

A 29-year-old self-employed designer sees a primary care doctor once a year and takes no regular medication. For this person, a Bronze plan or an HSA-qualified high-deductible health plan may be the lowest-cost fit. The premium is usually lower, and if they can save cash in an HSA, they get a tax break too.

That said, this only works if they can comfortably cover the deductible from savings. Otherwise, the low premium becomes risky, not smart.

Example 2: The family with regular care

Now picture a couple with two children, one child in speech therapy, and several prescriptions each month. This household should not shop by premium alone. In many cases, a Silver plan can beat a Bronze plan because the deductible, copays, and coinsurance are lower.

In fact, CMS examples show that eligible households can save hundreds to thousands of dollars by choosing the right Silver plan instead of Bronze, including more than $1,000 in a medium-use scenario and more than $12,000 in a worst-case scenario.^[5] That is the type of savings that changes a family budget.

Silver vs. Bronze vs. HSA-Qualified HDHP: Which One Usually Saves More?

Bronze plans

Bronze plans often have the lowest premiums. They can work well for people who rarely use care and mainly want protection from very large bills. The trade-off is higher out-of-pocket cost when you do need care.

Silver plans

Silver plans are often the sweet spot for people who expect moderate medical use. They become especially valuable if you qualify for cost-sharing reductions, because those extra savings only come with Silver.^[3] For many Marketplace shoppers, this is the hidden money-saving move.

HSA-qualified high-deductible health plans

These plans can be powerful for higher earners, healthy households, and disciplined savers. For 2026, HSA contribution limits are $4,400 for self-only coverage and $8,750 for family coverage.^[6] If you use the HSA well, you lower taxable income and build a medical cushion for future costs.

Still, an HSA plan is not automatically the cheapest. It usually works best when you have low expected use and enough cash reserves to handle a high deductible without stress.

Pros and Cons of This Cost-Cutting Strategy

Pros

• • Helps you see the real cost of a plan, not just the sales price.

• • Reduces the risk of surprise bills.

• • Highlights hidden savings like cost-sharing reductions and HSA tax benefits.

• • Works for employees, freelancers, families, and Marketplace shoppers.

Cons

• • Takes more time than choosing the lowest premium.

• • Requires an honest estimate of your medical use.

• • A good financial deal can still be a bad fit if the network is weak.

Common Mistakes to Avoid

• • Buying on premium alone. This is the biggest mistake.

• • Ignoring the deductible reset. A plan that looks fine in December may feel very different in January.

• • Skipping the Silver plan check. If you qualify for extra savings, this can be a costly miss.

• • Overlooking prescriptions. Drug costs can change the math fast.

• • Not re-shopping every year. The plan that saved you money last year may not be the best deal this year.

People Also Ask

Is it better to choose a Bronze or Silver health plan?

It depends on how much care you expect to use. Bronze is often better for very low use and emergency protection. Silver is usually better for moderate use, and it can be much better if you qualify for cost-sharing reductions. Always compare total yearly cost, not just the monthly premium.

How can I lower health insurance premiums without losing coverage?

Start by checking subsidies, reviewing Marketplace options, and comparing total yearly costs. You can also lower premium costs with an HSA-qualified plan if your medical use is light and you can handle the deductible. Just make sure the doctor network and prescription coverage still fit your needs.

Does an HSA really save money?

Yes, for the right person. An HSA can lower taxable income, grow tax-free, and be used tax-free for qualified medical expenses. However, the plan attached to it usually comes with a higher deductible, so it works best when you have savings and lower expected care.

What is the biggest mistake people make when buying health insurance?

The biggest mistake is treating the premium like the full price. It is not. The real price includes your deductible, copays, coinsurance, medicines, and worst-case exposure. That is why Laura Bennett’s advice is so useful: compare the whole year, not just the first bill.

Final Takeaway

If you want to cut health insurance costs without getting burned later, stop asking, “Which plan has the lowest premium?” Start asking, “Which plan gives me the lowest total cost for the care I am likely to use?” That is the smarter question. It is also the expert move.

For some people, that answer will be Bronze. For others, it will be Silver with extra savings. For healthy savers, it may be an HSA-qualified plan. The winning plan is not the one that looks cheapest today. It is the one that protects both your health and your cash flow over the next 12 months.

Source Notes

1. 1. KFF 2025 Employer Health Benefits Survey

1. 1. HealthCare.gov, total yearly cost guidance

1. 1. HealthCare.gov, cost-sharing reduction guidance

1. 1. HealthCare.gov, out-of-pocket maximum guidance

1. 1. CMS, Silver vs. Bronze cost-comparison scenarios

1. 1. IRS guidance on 2026 HSA limits