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Individual Health Insurance
Since the inception of the Affordable Care Act, health insurance landscape has undergone considerable transformation which favors holders. You enjoy some advantages as a consumer when shopping for an individual health insurance plan that you never had before. And you may be wondering how to get health insurance for yourself if it’s your first time. At the end of this post, you will see how to buy individual health insurance.
What Are The Benefits of New Health Plans?
Before diving into the pool, you need to know the benefits of the individual health insurance you are making;
- One good thing about this is that Health insurance companies won’t turn you down for health coverage or give you higher charges just because you’re sick or have a bad health condition.
- Also, in order to be considered as vital in providing enough coverage under the Affordable Care Act, health insurance plans now have to offer a comprehensive set of 10 important benefits, including hospitalization, preventive care, prenatal and maternity care. And the insurance company won’t cap the dollar amount of benefits you receive in a year or over a lifetime. However, the amount of money you pay out for health care, however,is
- Before now, people with bad health conditions faced very high premiums to cover a pre-existing condition and sometimes, won’t qualify for individual health coverage at all.
- You may also qualify for premium discounts which can come in the form of tax credits or subsidies just to lower your out-of-pocket health insurance costs if your income is low or moderate.
Multiple Health Care Coverage Options Can Be Confusing
The thing is this, those consumer wins don’t help you make faster decision in choosing a health insurance plan since you still have to assess your health care needs, crunch the numbers, review the insurance options and choose the coverage plan that makes the most sense for your finances and your health needs. All of these are things you must have to accomplish in a brand new health insurance frontier.
Below are some basic ways to get your health insurance cover:
- Medicaid and the Children’s Health Insurance Program (CHIP): These insurance plans have low income requirements and does not cost much to get.
- Individual health insurance: just as the name implies, it’s a plan you buy on your own. An individual health plan can cover just one person or a family. You can buy directly from the best health insurance companies you know or from your state’s health insurance marketplace, which is also called an exchange place.
- Group health insurance: in group health insurance, your employer selects the plan(s) and health insurance companies that he thinks best suits the company. You start work, normally in the fall during your employer’s open enrollment period.
- Medicare: this plan takes care of older people mostly for people from the age 65 and over.
Before You Get Individual Health Insurance For Yourself, Read This Tips Below
This tips is still one of the best health insurance for self employed in 2017, so it for you if you are self-employed or not and want to get individual health care plan. In purchasing personal health insurance, you need to;
1. Do Your Research Before Open Enrollment
As an individual, you can buy an individual health plan that meets the government standards for coverage use only during the annual open enrollment period in most states of the country, unless you have a special case, like having a baby or getting married, which then create a special enrollment period. However, The only state in US that requires insurance companies that sell health insurance plans outside the government-run marketplaces to offer those plans throughout the year is Nevada.
Make sure you don’t wait until the last minute. Take your time and make plenty research on options before you apply. If you miss open enrollment, you might face a tax penalty if you go without coverage.