Believe it or not I did have the audacity to say “affordable” and “health insurance” in the same sentence. Affordable Utah health insurance is considered by many to be an oxymoron; however, with a little research and homework on your part you can find an affordable Utah health plan.
Healthcare reform laws will have an impact in the near future, but for the most part most of the new pieces of legislation have not yet taken effect. The one major Healthcare reform law that recently did take effect was “children can no longer be declined health insurance for any reason.” There have been numerous other minor pieces of Healthcare reform take effect over the last six months, but it’s minimal in regards to the impact it will have on the vast majority of Utahan’s.
Now to answer the question of the day “what is the key to buying an affordable Utah health insurance plan?” We’ve summed up the key to purchasing an affordable Utah health insurance plan below in four easy steps:
Utah Health Insurance Tip #1
Many Utah residents think the best way to save on your Utah health insurance plan is to shop around and compare plans. Shopping around and comparing plans is important; however, the most important thing you can do is take care of yourself. I work with individuals who spend a lot time trying to find a great rate on a Utah health insurance plan, only to find they cannot meet the plans health qualifications.
Keep in mind your present health care insurance company cannot cancel your health plan simply because your health took a turn for the worse after you applied. However, chances are, you will need another health insurance plan at some point in the future, this is why it’s so important to always exercise and take care yourself.
Every Utah health insurance company has price increases, but not all the price increases are equal. The plan you have currently may have a larger percentage increase than the plan of another carrier. At some point you may want to switch to a cheaper health insurance policy, but may not be able to because of your health.
The most important cost saving tip: “Take Care of Yourself–Exercise and Eat Healthy.”
Utah Health Insurance Tip #2
This brings us to our second most important tip: “Use a Utah Health Insurance Broker.” A good health insurance broker can shop and compare plans from every Utah carrier. And the best part about using a health insurance broker is it will cost you absolutely nothing! That’s right…zip, zero, zilch! You will pay the same price whether you use a health insurance broker or you go directly to any health insurance company.
So, you’re now saying to yourself, what’ the catch? How do these people get paid? The answer is that insurance companies pay these independent brokers a commission the cost of which is covered by inclusion in all health insurance premiums. In other words you’re paying for this broker’s advice anyway so why not take advantage of it! One of the great advantages of using a Utah health insurance broker is the fact you gain access to unbiased advice. Since a broker represents many insurance carriers he is better equipped to find a plan and carrier that will most appropriately meet your needs.
Utah Health Insurance Tip #3
Finally, this brings us to our third most important tip: “Understanding How the Plans Work So You Can Compare.” We’ve all heard the old adage–comparing apples to apples, well it’s no different with your health insurance plan. You want to make sure your comparing “apples to apples,” so you can make the best choice available. Once again don’t think you have to go it alone, use a Utah health insurance broker, they can help you sort through the plans to find the best value.
You should know what a deductible is and what deductible each policy has. You should also know if there are co-pays or coinsurance and how each works with each plan. Unless you understand the major parts of a plan, you cannot make an informed decision. Also it is important that you consider moderate deductible and possibly high deductible plans. Often these policies are priced low enough that it makes sense to pay the higher deductible should something major happen.
Utah Health Insurance Tip #4
The final tip for you should consider when shopping for an affordable Utah health insurance plan is the medical deductible amount. Consider going with a higher deductible medical plan coupled with an Health Saving Account (HSA). Most higher deductible plans these days are HSA qualified, which means when you purchase the medical insurance plan you’re then eligible to set-up a HSA. An HSA allows you to put “pre-tax money” aside to pay for legitimate medical expenses. Using pre-tax dollars to pay for your medical expenses make your dollar stretch a whole lot further.
The other great part of using a higher deductible medical plan is the premiums are much lower than traditional style plans. Most high deductible plans offer medical deductible’s between $ 2,500 – $ 5,000 for individuals and $ 5,000 – $ 10,000 for a family. Although the medical deductible is high most carriers do pay for you to receive “preventative care” visits throughout the year. HumanaOne has the best HSA style plan that I’ve seen on the market mainly because their plan give each individual on the plan up to $ 500 in preventative care per year. The Humana HSA plans also offer the lowest monthly rates on their plans.
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Buying health insurance in Utah may not top your list of fun things to do, but that doesn’t mean it’s unimportant. After all, there are few things in life more valuable than good health. Start Saving Today on Your Utah Health Insurance Visit: http://www.UtahHealthInsuranceBroker.com.
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