When you're looking for affordable health insurance in Tennessee, it can require careful research and a close understanding of what plans fit your budget and medical needs. Fortunately, you do not have to undertake this search on your own. HealthMarkets Insurance Agency offers a free service that can help connect you with affordable health insurance in Tennessee and we have the simple solution you're looking for.
At HealthMarkets, we've eliminated the need for you to go through the health insurance search alone. When you contact one of our friendly, licensed agents, we can quickly compare your needs to thousands of policies from over 180 insurance providers nationwide.
How the ACA Made Affordable TN Health Care
The Affordable Care Act (also referred to as "Obamacare" or the ACA) was passed in 2010 to help make American health care more affordable and accessible to families who had difficulty enrolling in it before. According to the HHS, TN residents buying insurance through a health insurance marketplace have been reaping the ACA's benefits in many ways:
- "Out of 151,352 residents enrolled in Tennessee, 80% received plans with some form of financial assistance."
- "Tennessee was the recipient of $9,110,165 in grants to improve health care in the state."
- "Due to the new 80/20 rule, ensuring insurance companies cover more healthcare costs, residents of TN received $10,037,932 total in refunds from their insurance provider."
- "Insurance providers can no longer discriminate against those with pre-existing conditions, like diabetes or asthma. This has allowed 2,764,651 Tennessee natives (including 352,794 children) access to the health care they need."
How Tennessee Health Plans Are More Affordable
Tennessee's success under the ACA was made possible by the new healthcare laws that required insurance providers to provide more coverage than previously. This includes the introduction of the four levels of coverage, or "metal levels," that help families get the proper amount of coverage based on how much they're paying in monthly premiums.
In general, the more you pay in premiums, the more coverage your health insurance provider should give. These levels include:
- Bronze: 60% coverage from your health insurance provider, 40% left for you to pay.
- Silver: 70% coverage from your health insurance provider, 30% left for you to pay.
- Gold: 80% coverage from your health insurance provider, 20% left for you to pay.
- Platinum: 90% coverage from your health insurance provider, 10% left for you to pay.
In addition, families making a modest income 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:
- 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.
- 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 about your eligibility? Can't figure out which metal level will work for your family? Contact HealthMarkets today.
HealthMarkets Finds Affordable Health Insurance in TN
Since 2010, we've been helping families across the nation enroll in the right health insurance plan for their needs, and we're confident we can help you, too. When you meet with one of our TN licensed agents, we can help you find affordable health insurance in Tennessee easily; and it all begins by contact us.