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Health Insurance
Health insurance coverage is one of the most difficult policies
to select. Premiums for health insurance are developed by
each company's experience that can change in a short period
of time. When selecting a
 health
insurance policy, inquire about the per cent of increase
and how often they change rates. This will give you an idea
as to the stability of the company and also an indication
of what you may expect in the future. Farmers Union represents
several companies that write health insurance. Contact an
agent to discuss choosing a company that best fits your
needs. Farmers Union Insurance Agents have access to national
companies and our company writes for a Montana based company
called New West Health Services.
What
is a Health Savings Account ("HSA")?
A
Health Savings Account is an alternative to traditional
health insurance; it is a savings product that offers a
different way for consumers to pay for their health care.
HSAs enable you to pay for current health expenses and save
for future qualified medical and retiree health expenses
on a tax-free basis.
What
Is a "High Deductible Health Plan" (HDHP)?
You must have an HDHP if you want to open an HSA. Sometimes
referred to as a "catastrophic" health insurance plan, an
HDHP is an inexpensive health insurance plan that generally
doesn't pay for the first several thousand dollars of health
care expenses (i.e., your "deductible") but will generally
cover you after that . Of course, your HSA is available
to help you pay for the expenses your plan does not cover.
Call your
local Farmers Union Agent to get more details. (click
here to locate agent)
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