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)