Health Insurance in Utah
Health Insurance in Utah—How to Choose the Right Plan
Looking for affordable health insurance in Utah can be fun! Ok, saying it’s going to be fun maybe a bit of a stretch, but it doesn’t have to be difficult. There are a lot of options out there when it comes to health insurance in Utah, so it pays to compare rates and plans in order to find the best value on coverage. Before you can do that, though, you should know what to look for. There are four basic health insurance types and it helps to understand them before you begin your search. Although there are variations within each, here are their distinguishing features:
Traditional Indemnity Plans or Fee for Service
•Pays the majority of your medical bills, usually 80 percent
•You can choose your doctors and other health care services
•Most carriers offer a “co-pay” style plan where you pay only a fraction of the cost for office visits, urgent care, and prescriptions
•The most expensive of all health insurance options
Preferred Provider Organizations (PPOs)
•You can see a doctor outside the network but you have to pay first and then request reimbursement for 80 percent
•You’re only required to pay a low co-payment for care, as long as you stay within the PPO’s network of providers
•No need for a referral to see a specialist
•PPO style plans can be restrictive for someone who travel a lot
•PPO plans for the most are part are cost effective
Point of Service (POS)
•You must choose a primary care physician (PCP) from among the plan's network
•You can see a doctor outside the network but you have to pay first and then request reimbursement for 80 percent
•Specialists require referrals from your PCP if you want full coverage
•You can choose your own out-of-network specialist but it will cost more unless they’re referred by your PCP
Health Maintenance Organizations (HMOs)
•The most affordable of all options
•There is either no or a low co-payment for care, as long as you stay within the PPO’s network
•You must choose a PCP from among the plan's network
•Specialists require referrals from your PCP
•Minimal paperwork
Here are some tips to help you choose the best health insurance in Utah:
•If you’re in good health, you might want to choose higher deductibles and lower payments, or at least a plan in the middle range. Being healthy and utilizing a higher deductible plan will keep more money in your pocket.
•Use a Utah health insurance broker, using a health insurance broker will cost you nothing! Utah health insurance brokers are paid a commission by the Utah health insurance companies, and you pay the same rate going through a broker as you would going straight to the health insurance carrier. So why not use a broker’s free advice to help you sort through the Utah health insurance jungle! Utah Insurance Solutions is Utah’s #1 health insurance broker!
•Compare each company’s co-payments (the cost of seeing a doctor) and coinsurance (the amount you have to pay after the insurance company has paid their part).
•Compare deductibles (the amount you personally have to pay), as well as what counts toward the deductibles. Some plans don’t credit co-payments, which would increase your out-of-pocket costs.
•Stay healthy by taking care of yourself through frequent exercise, and good eating habits. Without good health many of the plan options we’ve discussed won’t be available to you.
•If you’re in poor health, choose a deductible level you can afford, even if though that means paying a higher monthly premium. Chances are you’ll have to pay the full amount, so you should set it aside in a savings account.
•Compare out-of-pocket maximums, which cap how much you must spend (not including co-payments) before the insurance company will pay for everything. Obviously, the lower that number, the better.
