Residents of Iowa consistently boast some of the lowest rates in auto and homeowners insurance in the country. This is partly due to a low cost of living, fairly low incidence of natural disasters, and low crime rates. When it comes to health insurance, however, Iowans don't fare so well, and a recent proposed 18% increase in rates for Iowans who buy their own health insurance is reason enough for many to start looking for ways to save.
The recent proposed hike in health care coverage would affect over 80,000 Iowans, causing them to pay approximately 18% more per month on their private health insurance. With insurance costs already high, this means many people may see dropping their coverage as their only option.
But you don't have to skimp on coverage to save money. The following tips will help you save on your Iowa insurance rates.
Iowa Insurance Rates for Health Coverage
You can save on your insurance rates in a number of ways, including:
- Raise your deductible and co-pay. A co-pay is the amount you pay each time you visit the doctor. It is typically a flat amount, like $20 or $25, and since most doctor visits cost more than $25, your insurance will pick up the rest. The deductible is the amount you pay out of your own pocket before insurance will kick in (excluding routine doctor visits or emergency room visits). As a general rule, the higher these amounts, the less you will be paying each month. If you are healthy or you don't have children, it's a good idea to raise these numbers so you can pay less.
- Cut coverage you won't need. If you manage to stay healthy, or only visit the doctor once or twice a year, then it doesn't make fiscal sense to have prescription drug coverage. Same with vision insurance or prenatal coverage. If you're fairly certain you won't be expecting any time soon, or if only one person in your family of four needs glasses, you could actually end up saving money if you get rid of these coverages that you aren't likely to use.
- Get healthy. It's a known fact that people who smoke or are overweight pay more for health insurance, simply because these factors contribute to higher health risks. Make a plan to quit smoking or lose a few pounds not only to save on your Iowa insurance rates, but also save your own life in the process.
Shopping Around for Low Iowa Insurance Rates
The best way to save money and know you are getting the best deal on your health insurance rates is by calling a number of providers and comparing rates. The fastest, easiest way to do this is through a site like localinsurance.com. Here, you can research all types of Iowa insurance, then compare the rates quickly without ever leaving your home.
