How to Keep your Colorado Health Insurance Premiums Low

Even with the Healthcare Reform bill in place, Colorado health insurance plan costs continue to rise.  This is because most of this cost savings provided in this new law do not go into effect until between 2011 and 2014.  Even then, not everyone will be able to take advantage of the savings. 

Hospitalization costs can exceed $1,000 per day and a serious injury or illness can run into hundreds of thousands of dollars.  We all know that health insurance is supposed to keep individuals from depleting their savings in order to pay for healthcare, but the price of many Colorado health plans, insurance can seriously impact one‚Äôs quality of life.  So how can Coloradoans lower the cost of their health insurance plans?

Here is a list of options that may be worth considering if your Colorado health insurance is too expensive:

‚Ä¢ Managed Care policies have become too expensive for many families, but a PPO can be more affordable.  Unlike HMOs, PPOs allow access to a much larger network of doctors and hospitals, and some of them are available at lower costs with higher deductibles and/or co-pays.

‚Ä¢ High Deductible plans are less expensive because they require the payment of a larger sum of money up front, before the coverage kicks in.  Once the deductible is satisfied, however, the insurance offers the same major medical coverage available to more expensive plans.

‚Ä¢ High Co-Pays for doctor visits can be another way to save money on your Colorado health insurance plan.  Rather than the typical fees paid for office visits ($25-$35), these plans often require you to pay for the cost of office visits (approximately $65 with a PPO discount) in exchange for lower monthly premiums. 

As you can see, there are many ways to lower the cost of individual health insurance in Colorado, but these plans are not promoted as often by major health insurance companies.  Working with a Colorado health insurance broker will allow you to compare the costs and benefits of less expensive health plans and make a more educated decision about your family‚Äôs healthcare.  

Michael Horvat is a health insurance expert and broker with HealthQuotes.com in Colorado Springs, CO. If you are searching for Colorado health insurance plans or quotes, please give Michael a call anytime at 800-345-0789.