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Contact Health Insurance Agent in Utah: Bret Harding (801) 372-2647
6 Tips for Choosing Utah Health Insurance
By Bret Harding
Choosing health insurance in Utah can seem like a big ball of wax — so big, in fact, that many of us put it on the back burner rather than deal with it. But it's one of the most important decisions we have to make as consumers. Not only does it determine the care that we receive should our health take a wrong turn, but it can be the wild card in your financial plan. Roughly half of all bankruptcies filed in the United States are caused by illness and medical bills.
It’s still too early to tell if President Obama is going to be able to wrangle our healthcare system into taking on a new direction. Until then, choosing the right individual health insurance plan in Utah remains one of your most important decisions — not just for those people who are selecting from an employer's benefits menu, but for those 46.6 million uninsured Americans who are trying to put at least some coverage in place.
Here are six tip’s to help you keep your Utah health insurance costs down:
1. Location
Insurance plans and prices vary widely by state. New York, for example, has some of the most expensive individual plans in the country, largely due to its guaranteed-issue policy that requires companies to insure everyone, regardless of health.
The best way to kick off your shopping is by doing a little research on your state's insurance Web site. A good site will list companies available in your area, prices for both individual and family plans, and any lower-cost options your state offers if you meet certain income requirements.
2. Write out your priorities
Do you love your current doctors? Then you should choose an insurance company that covers their service. Its important to make a list of the top five things you would like in plan, and bring them up to the broker or insurance company . This way you can really start to focus in on a plan that will more appropriately meet your needs.
3. Don't be afraid to use a Utah health insurance broker
An insurance broker can be a huge help. He can do the legwork to find a well-suited insurance company, help shop for the best rates, and explain the ins and outs of your plan. You may also want to make sure he has a large "book," the industry term for the network of providers he works with. More options mean a better deal and a better fit. Also another important tip to keep in mind when choosing a broker say Bret Harding of Utah Insurance Solutions “most consumers don’t know that states regulate the rates insurance companies charge, this means that every insurance agent must quote the same rate for a particular health insurance company. Therefore, the best way to save money on a plan is to find an insurance agent that really knows the individual health insurance market and can recommend a specific plan to fit your individual needs.”
4. Consider Using a Discount Health Card
Discount health cards can be a tremendous saving tool for consumers who actively use them, says Bret Harding with Utah Insurance Solutions. Discounted health cards don’t replace health insurance, but they can enable you to save on prescription drug costs so you can, perhaps, forgo the Rx plan that comes with many health insurance plans, and thus save you some money. Many prescription benefit cards are available for free or at a minimal cost.
5. Consider a Utah Health Savings Account
An HSA is a great option for people who generally only have to whip out their insurance card once or twice a year. Maybe you go for a yearly checkup, and then to the doctor if you have the flu. It goes hand-in-hand with an insurance policy that has a high deductible ($1,100 for individuals; $2,200 for families), but low premiums. The money you save on premiums each month can be deposited into the HSA pre-tax, where it grows tax-deferred. You then use it to pay for any unexpected medical expenses. The bonus? Once you turn 65, you can withdraw any money you didn't use and spend it on anything you want, including funding your retirement.
6. Negotiate
You've chosen a plan, but you're still not home free. Bills can pop up everywhere, from services that aren't covered to doctor and hospital co-pays to costs for prescriptions. Many insurers have instituted a system of preferred pricing when it comes to prescriptions, meaning that if yours isn't generic and on a list, it could still cost a bundle.
Now days even people with employer coverage are having to be smart shoppers for prescription drugs, especially if they have a regular medication that is pretty expensive. Keep your costs low by shopping around (prices can vary among pharmacies — your best bet is a discount store or price club) and asking for generics whenever available. You can also have your doctor write out a prescription for a longer period of time, so you'll get a 90-day supply instead of a 30, advises Harding.
The co-pay will be the same. And don't be afraid to negotiate with your doctor if you're paying out of pocket. In a recent Harris Interactive poll, three out of five people who did so received a discount. With the cost of a single visit often tallying over $200, it's definitely worth a try.
Choosing health insurance in Utah may not be on the top of your list of important things to do today, but that doesn’t mean you should put it off any longer. It general takes between 30-45 days to find an implement a new Utah health insurance plan. Get started today with Utah Insurance Solutions, we’ll point you in the right direction and make sure your taken care! Call or email Bret Harding for personal guidance: 801-372-2647. Email: Bret@UtahInsuranceSolutions.com.
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Watch this short video to learn the basics of Utah health insurance plans.