Under the Affordable Care Act, most Americans are required to buy health insurance. You’re probably used to looking for good deals on travel, on cars or at the grocery store, but shopping for health insurance probably seems more complicated. If you haven’t done the research yet you might think finding affordable health insurance is nearly impossible.
Step 1: Identify Possible Plans
Start your search for affordable heath insurance by looking at all your options. There are thousands of health plans from which to choose and in the same way you won’t find the cheapest flight by checking with only one airline, you shouldn’t buy health insurance by looking at only one or two plans. Take the time to get as many quotes as possible.
Step 2: Determine Subsidy Eligibility
After that, find out if you’re eligible for a government subsidy to reduce the cost of your monthly premiums. Subsidies are available for households that earn less than 400% of the federal poverty level, which is about $46,000 for an individual, $62,000 for a couple and $95,000 for a family of four.
Step 3: Evaluate Needs
Finally, make sure you’ve selected the health insurance plan that really meets the needs of you and your family. When comparing plans and their costs, it’s important to look beyond just the monthly premium costs. That’s because your biggest healthcare expenses might not be your premiums but what you pay when you see the doctor, visit a hospital or pick up your prescription. Make sure you carefully consider the kind of health care services you’ll be using and what those services will cost for each plan you are evaluating. In order to find affordable health insurance that is also a good fit for your needs and budget, be sure to compare these other costs along with the cost of the premium.
If all this feels a little overwhelming, don’t worry; you don’t have to go it alone. A health insurance professional can help you search dozens of health plans all at once, so you aren’t hopping from website to website or making one call after another. They can also help you apply for a subsidy and assess the differences between health plans, all the while keeping in mind your personal situation and financial resources.
Agents with HealthMarkets Insurance Agency can help you find affordable health insurance that suits your specific needs and budget. We have made it our business to simplify health insurance shopping for our customers. With access to more than 200 different insurance companies, thousands of plans nationwide and the ability to help you get the maximum government subsidy you are eligible for, HealthMarkets can help you find the right plan for your needs.