Which of the following could reduce a person's health insurance premium?

Choosing a higher deductible plan can indeed reduce a person's health insurance premium. Premiums are the monthly costs to maintain a health insurance policy, and they are significantly influenced by the out-of-pocket expenses a policyholder is willing to take on.

When an individual opts for a higher deductible, they agree to pay more out of pocket before their insurance coverage kicks in. Because they are taking on more financial responsibility, insurers often reward this choice with lower monthly premiums. This arrangement provides a means for healthier individuals who do not anticipate significant medical expenses to save money on their insurance costs.

To provide context on the other options: Smoking tobacco typically results in higher premiums because it is associated with increased health risks and potential claims. Being under 30 might qualify an individual for lower rates under certain plans, such as catastrophic coverage, but it does not universally reduce premiums like a high deductible would. Having multiple insurance claims usually increases the risk perceived by insurers, leading to higher premiums as it suggests greater potential future costs. Thus, choosing a higher deductible plan is a strategic way to reduce monthly insurance costs for those who can manage the higher out-of-pocket expenses in the event of healthcare needs.