Finding an affordable health insurance policy doesn’t have to be a difficult task. Despite the complexity of health insurance and its highly competitive market, you have resources like HealthMarkets Insurance Agency that can help. But let us first address a few important questions:
How many people need coverage?
What are the out-of-pocket costs?
Would you prefer a Preferred Provider Organization (PPO) or a Health Maintenance Organization (HMO)?
If this sounds like a foreign language to you, don’t worry. In this article, we will discuss the details of health insurance and offer tips for finding the best insurance plan for you.
Common Health Insurance Terms
Finding affordable health insurance begins with an important first step: determining your needs. Unfortunately for many Americans, decoding the lingo of the health insurance industry can be time-consuming and leave you with more questions than answers. To help, here are a few definitions for common healthcare terms.
- The Affordable Care Act (ACA): Also referred to as Obamacare, the Affordable Care Act (ACA) is legislation passed in 2010 that intended to make health care more accessible and affordable. Part of its language mandated that insurance providers cannot raise your rates or deny coverage for pre-existing conditions. There are also cost-saving measures, such as capping out-of-pocket expenses and subsidies for families who meet certain requirements.
- Preferred Provider Organization (PPO): A PPO is an insurance plan that creates a network of providers that offers reduced rates to people who stay within the established network for medical care.
- Health Maintenance Organization (HMO): An HMO plan limits coverage to hospitals and doctors who work for the HMO. In most cases, an HMO insurance plan will not cover out-of-network care.
- Out-of-pocket costs: The amount of money you pay after a doctor’s visit for services not covered by your insurance plan.
- Copayment: Usually paid at the time of your appointment, a copayment is a fixed amount that you pay for a medical service.
- Deductible: "The amount you are responsible for paying for care before your health insurance plan begins to pay."
- Premium: "The amount you pay monthly, quarterly or semi-annually to your insurance company for insurance coverage."
Affordable Health Insurance from HealthMarkets
HealthMarkets Insurance Agency matches you with the policies that meet your needs and fulfill the ACA’s requirements. Your policy expenses can depend on three things:
- Your location
- Your income
- Your household size
When you go to the HealthMarkets website, be prepared to answer questions about these issues for us to find a selection of policies that align with your needs. We are not only a health insurance exchange. We also offer a wealth of information about the insurance industry, the ACA, and a wide range of other topics.
Please join us on Facebook or peruse our blogs to learn more about finding affordable health insurance. Our licensed agents will help you become an expert on affordable health insurance in no time. For more information about your healthcare options, give us a call at (800) 360-1402.