One of the biggest challenges that families face today is to save on health insurance. If you want to save money or reduce your health insurance costs, look into these low-cost health insurance options and tricks:

1.  Check Whether You Qualify for Federal Programs
If your income is low enough, you may qualify for Medicare or Medicaid, which can help you save a ton on health insurance, or get health insurance if you can’t otherwise afford it.

2.  Find Out if You’re Eligible for Federal Subsidies
The Affordable Care Act has introduced some great federal subsidies to help reduce health insurance costs. If your income level is under 400% of the federal poverty level, you may be eligible to get a federal subsidy to save on health insurance.

3.  If You’re Healthy, Shop for Low Cost Health Insurance
If you’re a young or reasonably healthy person, you can save money by shopping for low cost health insurance that covers less or offers fewer benefits. These no-frills plans might not be appropriate for families with small children, but they’re a great way for healthy, single adults to save money.

4.  Save on Health Insurance by Compromising on Out-of-Pocket Expenses
You can reduce health insurance costs by picking a plan with a higher deductible or higher out-of-pocket expenses. If you rarely use health care, you can come out ahead – particularly if you put the difference in premium into a savings account, and use it to pay for deductibles, co-pays and co-insurance on your low cost health insurance plan.

5.  Save Money by Utilizing Wellness Incentives
If you routinely use services that tend to fall under “wellness incentives” on a health insurance policy, you may actually be able to save money by opting for a more expensive plan that reimburses these expenses. For example, if you’re a gym member who pays $50 a month for your membership, it may make sense to pick a health insurance plan that costs $30 more per month but reimburses you for your gym membership. Wellness incentives can add up and offset the costs of a higher-coverage plan. Just be sure to read the fine print and make sure you understand what is covered, and for how much.