There are few things in life more important than your health insurance, so it’s no wonder most of us find it daunting when shopping for it. “What health insurance do I need?” can be a complicated question, and it’s something to think about as the Open Enrollment Period (OEP) approaches. For most states, OEP begins November 1 and ends December 15, but some states may choose to extend their enrollment periods.
HealthMarkets can help you prepare for OEP. Use this simple checklist to make shopping for health insurance less intimidating.
Are You Eligible for a Subsidy? Find Out.
Depending on your income, you may be eligible for a government subsidy to lower the premium costs of health insurance. You will be eligible if your household income falls between 100% and 400% of the federal poverty level (FPL). For 2020, the income ranges are as follows:
- For an individual: $12,760-$51,040
- For a couple: $17,240-$68,960
- For a family of four: $26,200-$104,800
HealthMarkets can help determine whether you’re eligible for a subsidy.
Compare Plan Premiums.
You compare prices for other important purchases. Why not do the same for health insurance premiums? Keep in mind that, although price matters, premiums are only half the cost of your healthcare.
Review Other Costs, Too.
Compare the amount for deductibles, copays, coinsurance, and maximum out-of-pocket costs. These expenses determine how much your healthcare really costs in addition to the premium, because you pay them every time you seek medical services.
Check for Your Doctor and Medications.
Do you have a doctor you want to keep seeing? If so, when reviewing your plan options, make sure you also review the doctors and hospitals covered by any insurance plans you consider. Verify that the plans include medications and alternative practices, such as chiropractic care, that you may use. This way, you’ll ensure that your “must-have” doctors and services are included.
Shop, Compare, and Enroll in a Plan With HealthMarkets
Using this checklist can help you answer the question, “What health insurance do I need?” HealthMarkets simplifies the health insurance shopping experience by allowing you to compare health insurance plans and enroll in one that fits your needs.