How to Save Money on Health Insurance in Utah

How to Save Money on Health Insurance in Utah - for Individuals and Families

If you own an individual or family health insurance plan, there are a lot of ways you can lower your monthly cost. Here are some ideas and tips to help you save money.

Re-apply for the Same Plan

After a year or two, most companies allow you to re-apply for the same plan at a lower price.

Here's why you are able to do this: When you apply for an individual or family health plan, you are combined in a group with other people who applied around the same time. As time goes, on people in your group develop health problems and have claims. In order to pay for the collective claims in your group the insurance company must raise that group's rates an extra percent or two at renewal. After two, three, or four years, that adds up. Reapplying puts you in a new freshly underwritten group at a lower price.

Reapply for the same plan you have now by filling out a reapply form.

Use a Free Independent Agent

Agents provide a valuable resource. Best of all, you pay the same amount for your plan if you use an agent, as if you go directly through the insurance company. There is no extra charge, just extra service. An independent agent can take your application and submit it to multiple insurance companies, helping you receive as many offers as possible before you make your decision.

When you apply for a Utah health insurance plan, the insurance company can raise the rate, approved you at the rate in their brochure, or deny you. Applying for multiple plans at the same time ensures you the best chance of getting the right coverage at the best possible price. An agent can help you through this.

Many agents also have relationships with the underwriters and sales representatives at each insurance company. An agent can help clarify your health history to the insurance company, allowing you to get the best price possible.

Change Your Coverage

Raising your deductible, changing your doctor network, altering your office visit and prescription copays, and dropping your “bells and whistles” are effective, easy ways to save money.

Health Savings Account

If you want to change your plan drastically, to a major medical only plan, a high deductible health plan can lower your premium significantly and still allow you to keep quality major medical insurance. On top of that, qualified plans allow you to pay for your medical expenses with pre-tax money, saving you even more healthcare dollars.

Click here to explore health savings accounts options and get instant quotes!

by Jared J. Balis

Utah Health Insurance Agent

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