6 Tips to Choosing Utah Health Insurance

Health insurance can be 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 is six tip’s to help you whittle down the choices and keep costs for premiums, co-pays and prescriptions from draining your bank account:

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. "It's so important that you make a list of the top five things important to you, and bring them up to the broker or insurance company," advised Michelle Katz, a healthcare consultant and author of "101 Health Insurance Tips." This way you can really start to narrow things down by your needs, whether that means low premiums, customer service or the doctor you've been seeing since college.

3. Don't be afraid to use a 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. A great website to get an inexpensive card is: http://www.utahindividualhealthinsurance.com/.

5. Consider a 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, 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," said Lankford. 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, advised Katz. 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.

For more information contact Bret Harding:
Bret@UtahInsuranceSolutions.com
Visit: http://www.UtahInsuranceSolutions.com
Ph. 801-372-2647

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How To Choose A Health Care Plan: Three Ways to Save Money

How To Choose A Health Care Plan: Three Ways to Save Money
By: Bret Harding
Many brokers recommend switching to a high-deductible health plan coupled with a “deductible buy-down” that’s funded by the savings in premiums. Employees pay the same deductible as under the old plan, and the employer “buys down” the rest. The employer is betting that employees won’t spend all their deductible dollars. “They invariably use just 30 to 40 percent of the money budgeted,” broker Denny Ebersole says.
Set up a wellness program that encourages healthful behavior. Scott Leavitt, who runs My Wellchoice+, a national wellness program for small businesses, says claims drop substantially as a result—so rates don’t go up as fast. The plans typically cost $3 per employee per month.
If you can’t provide insurance, your employees may be able to buy individual policies through a voluntary insurance plan. This won’t be as affordable as group coverage, but both the prices and the service will be better than if employees approach an insurer on their own. I recommend visiting: http://www.voluntaryinsuranceplans.com/.
Resources
For a detailed guide to health insurance for small businesses, go to healthcoverageguide.org.
For additional information got to: http://www.UtahInsuranceSolutions.com