Final answer:
You can reduce health insurance premiums by selecting plans with higher deductibles, choosing plans with higher copayments or coinsurance, and comparing different insurance plans to find the most cost-effective option.
Step-by-step explanation:
Assuming you're unable to change personal attributes, there are three ways to reduce health insurance premiums. One way is to choose a plan with higher deductibles, which typically have lower premiums. However, this means you'll pay more out-of-pocket costs before insurance kicks in. Secondly, opting for plans with higher copayments or coinsurance rates can also lower premiums; these are the amounts you pay for covered services.
Lastly, researching and comparing insurance plans can lead to finding one that's the most cost-effective for your needs, without sacrificing essential coverage. It's important to remember that these strategies involve a trade-off between immediate premium savings and potential increased costs when needing healthcare services.