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Need affordable health insurance in Memphis, TN? It's important to understand what your healthcare options are, as well as your unique health and budget needs, before you begin your search for the right health insurance policy. At HealthMarkets Insurance Agency, we are committed to helping you find health insurance that fits your needs and your budget.

HealthMarkets has been helping people find the right health insurance plan since 2010. We have over 3,000 licensed agents, many of which are local to Memphis, who will meet with you in person to discuss your unique requirements and find the plan that fits your needs. 

ACA Benefits for Memphis, TN Health Plans

With the new healthcare laws introduced by the Affordable Care Act (also referred to as the ACA or Obamacare), Tennessee residents have been able to find the right coverage at the right price. According to the HHS, residents using a healthcare marketplace in TN have benefited in many ways:

  1. "Out of 151,352 residents enrolled in Tennessee, 80% received plans with some form of financial assistance."
  2. "Tennessee was the recipient of $9,110,165 in grants to improve health care in the state."
  3. "Due to the new 80/20 rule, ensuring health insurance companies spend more on your healthcare costs, residents of TN received $10,037,932 total in refunds from their health insurance provider."
  4. "Insurance companies can no longer discriminate against those with pre-existing conditions, like diabetes or asthma. This has allowed 2,764,651 residents in Tennessee (including 352,794 children) access to the care they need."

Ways to Make TN Health Insurance More Affordable

"Tennessee's success in finding affordable TN health care was made possible by the ACA that required insurance providers to give more coverage than previously. This includes the introduction of the four levels of coverage, or metal levels, that help families get coverage based on how much they pay in monthly premiums.

In general, the more you pay in premiums, the more coverage your health insurance provider should give. These levels include:

  1. Bronze: 60% coverage from your health insurance provider, 40% left for you to pay.
  2. Silver: 70% coverage from your health insurance provider, 30% left for you to pay.
  3. Gold: 80% coverage from your health insurance provider, 20% left for you to pay.
  4. Platinum: 90% coverage from your health insurance provider, 10% left for you to pay.

In addition, families making an annual income below the Federal Poverty Line can receive subsidy assistance to help pay for either your monthly premiums or your out-of-pocket expenses when you receive health care. There are two types of subsidies you may be eligible for:

  1. Premium Tax Credit: Families making between 100% and 400% of the Federal Poverty Line may be eligible to have their monthly premiums lowered or covered by either direct payment or through their annual tax return. 
  2. Cost-Sharing Reduction: Families making between 100% and 400% of the Federal Poverty Line may be eligible to have their out-of-pocket costs lowered or covered by having their health insurance provider pay more of the cost of care."

Want to learn more ways to find affordable health insurance in Memphis, TN? Contact HealthMarkets.

HealthMarkets Finds Affordable Health Insurance for Memphis, TN

We work with a network of over 180 insurance providers nationwide to provide thousands of policy options to compare your unique needs to. Our agents can narrow this list down and provide a selection of the plans that will work for you. To get started today, give us a call at (800) 360-1402 or request a free quote online right now.

 

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Sources:

HHS: http://www.hhs.gov/healthcare/facts-and-features/state-by-state/how-aca-is-working-for-tennessee/index.html
Forbes: http://www.forbes.com/sites/investopedia/2013/10/01/how-to-choose-between-bronze-silver-gold-and-platinum-health-insurance-plans/

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