Utah Health Insurance Quotes
Just as you insure your home and personal possessions, so it is important that you also get protection for your health and that of your family members. Also when you plan to purchase individual health insurance it is very prudent that you first do some homework and get quotes from different insurance providers. This will help you get knowledge about the different benefits offered by these insurance companies. The premiums charged by these insurers vary from company to company and there can be a difference as high as 50% between premiums charged by these companies for the same type of cover.
Costs versus benefits
Hence, you will have to find the right balance between the premium payable and the benefits applicable to the policy. The initial step you need to do is to analyse what you need for you and your family from the insurance policy. Then compare the various options you have from the various policies offered by these insurance companies. The insurers in Utah offer similar plans for both individual and group policies such as the conventional arrangement of fee-for-service, PPOs, point-of-service plans and HMOs. The selection of the appropriate insurance plan will should be based on factors such as your requirements regarding health cover, your finances and preferences of physicians, amongst other factors.
Underwriting of policy
You need health insurance so as to adequately protect the members of your family against unforeseen medical expenses. Therefore, it is vital that their healthcare requirements should be assessed as well as your finances before selecting a health insurance policy. The residents of Utah have a bouquet of health insurance plans to choose from. The sale of private health insurance by the insurance providers in Utah is monitored by the Utah Insurance Department. The state of Utah also permits for underwriting medically of health policies meant for individuals. This underwriting of medical health plans allows the insurance provider to re-examine the health history of the applicant and then ascertain the coverage to be provided as per the normal terms of the policy or to offer different terms or charge additional premium.
Even in some cases where the medical history of the applicants may warrant further investigation, the insurer may decide to offer limited benefits, or exclude particular benefits, or, in extreme cases, deny the cover. Modified benefits may be provided by including a permanent or temporary rider for elimination of particular medical situations. If an individual has no previous health insurance cover, then the insurance provider can take recourse to a look back at six months, or an exclusionary twelve months period, during which period the insurer can alter the terms of the health policy.
Determination of premium rates
There are various criteria on which the premium is determined, and this can vary to a difference of about 30% on either side of the index rate. There is a mandatory cap of enrollment which has to met by the individual insurer, failing which, the insurance provider needs to guarantee that at least one individual market plan will be issued to an individual who would otherwise not be eligible for coverage of any other type of insurance. The health insurance cover is essential because it helps you to lead a better lifestyle and enjoy good health since you are able to have regular checkups with a physician, which in turn results in lower premiums.
COBRA in Utah
In the state of Utah under the aegis of COBRA (the Consolidate Omnibus Budget Reconciliation Act of 1985) continuation insurance benefits are regulated for employees numbering twenty and more. This allows a provision of an additional continuous cover for eighteen months for the application of the same terms of the previously purchased health plan for the relevant group.
The state of Utah has its own mini-COBRA rules, which provide the continuation of benefits of six months for groups wherein the number of employees is less than twenty. This is with a proviso that those benefitting should have been covered by the previous group plan for the previous six months. This option of continuous benefits needs to be opted for by the beneficiary within thirty days of the last date of the applicable group plan. To enjoy the continuation benefits, the charges will be payable by the beneficiary. Also an administration charge of 2% will be levied on the premium paid monthly.