The Affordable Care Act (ACA) has made it easier than ever before for many Americans to afford health insurance for families. In fact, 86% of people who enrolled in an ACA marketplace plan received premium tax credits, which lower premiums.1 To learn how to affordably insure your family, read on.
How to Choose the Right Health Insurance Plan for Your Family
It’s advisable to define your coverage needs first. Do your children have medications that they will need year round? How often do they get ill or injured? How often do you or your spouse get sick? Is there a trusted doctor or specialist you would like to continue visiting? Once you have answered these types of questions, you can determine the level of coverage you may need.
Next, try estimating how much you can spend on health insurance each month. Estimate what you can spend on premiums as well as copays, coinsurance, and deductibles. If you visit the doctor often or have small children that require regular visits, a low premium and high deductible plan may not be in your best interest. But if your family is generally healthy, it may work to your benefit.
Finding the right health insurance plan for your family may seem like a difficult balancing act between coverage and cost, but it doesn’t have to be. With our FitScore®, comparing coverage, premiums, and out-of-pocket costs is easy. After answering a few short questions, we can search from plans available in your area and give you a customized ranking of plans based on your preferences.
How the ACA Affects Health Insurance for Families
In the health insurance industry, health insurance plans for families are those that include “dependent coverage.” The Affordable Care Act has mandated that all qualified (ACA approved) individual and group health insurance plans must offer dependent coverage for children (until the age of 26).2 So, as long as you are shopping for health insurance plans that are ACA approved, you will be able to find family plans.
Affording Health Insurance for Families
HealthMarkets has enrolled millions of Americans in policies that help families ensure that they get the health care needed when they are ill. Let us help you too. Start finding health insurance for your family today with HealthMarkets.
1.Kaiser Family Foundation. 2021. Retrieved from https://www.kff.org/other/state-indicator/effectuated-marketplace-enrollment-and-financial-assistance/
2.HHS.gov. December 24, 2009. Retrieved from https://www.hhs.gov/sites/default/files/patient-protection.pdf
HealthMarkets’ FitScore intends to identify plans that fit your needs. You should carefully review official plan materials.