Looking for Cheap, Affordable Health Insurance?
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Are you in the market for a major medical plan? Perhaps your employer has recently dropped or reduced your coverage? If so, you are undoubtedly seeking an affordable healthcare plan for yourself or your family.
Begin your search right here! You can browse our listing of pre-qualified companies that offer health care insurance in your State and area. It's easy! Simply enter your zip code and then click: 'start quote.'
The goal is to ensure the right fit for you and your family!
Navigating the New Health Insurance Requirements
The Affordable Care Act has certainly been a topic of much debate and many Americans have decided it’s not the right option for them. It can be tough to navigate the confusing maze on your own. Happily, there are excellent sources available that provide you with valuable information. You can discover the exciting range of compliant health insurance plans that are available and obtain quotes for the most economical plans.
Now you may be saying to yourself that there is no such thing as cheap health insurance rates. And perhaps you are correct, depending on the definition of “cheap,” but consider the alternative. If you have no personal insurance you will quickly discover that many doctors and hospitals will not provide health care—except in an emergency—if you do not have health insurance or are unable to pay the bill up front. And even in today’s environment, there may be an affordable alternative.
You should take advantage of the opportunity to speak with a knowledgeable agent for several reasons. First, he/she will have current information on prices, deductibles, and coverage for individuals and families. Second, most health insurance agents today are trained in how to determine whether or not you qualify for a federal subsidy. You have to be making less than 400% of the federal poverty level. If you qualify, you can lower your premium to as little as ¼ of the total premium! Furthermore, since the limits on income are now much higher, many people now qualify for Medicaid, which would give you the lowest possible premium outlay. An agent can help you determine what level you are eligible to apply for. If you are purchasing insurance under the Affordable Care Act, you don’t have to worry about coverage as all plans have a list of required coverages.
If there is one good thing about the new laws, it is that you can no longer be denied coverage due to pre-existing conditions. However, keep in mind that the coverage will likely not be the cheapest since you can be severely rated up for smoking, obesity, and certain chronic conditions. Also, while you can’t be turned down for insurance “coverage,” you can be given a waiting period for pre-existing conditions. Thus it is in your best interest to take care of your body and stay in good health to the best of your ability.
You have basically two ways to purchase health insurance, the Obamacare Market place, or the private market. If you purchase it through the government “exchange,” there are four types of health insurance plans. They are Platinum, Gold, Silver, and Bronze with Bronze being the lowest level of coverage—meaning you have higher deductibles, but lower premiums. In addition, the law allows people under age 30 to purchase Catastrophic plans which have very low premiums but very high out of pocket costs. Your premium is ultimately based on your income, and your available subsidy is based on the cost of the Silver plan; for example, if your income is between 300% and 400% of the national poverty level, you can’t spend more than 9.5% of your income on premiums. Thus you would get a subsidy to keep you below that level. If you qualify for a subsidy on the Silver plan, but would prefer to have the Gold or Platinum, you will have to pay the difference between the Silver and the higher level plan.
In the event you do not qualify for a subsidy, you should check the private market as getting coverage through a broker or directly from an insurance company may be your best option. Check with your own State to see what is available, Several States opted to set up Co-ops rather than participate in the federal exchange. If your State is one of these, purchasing insurance through the co-op can may result in lower premiums and possibly even better coverage.
Help with High Deductibles
One of the most common complaints among people who do not qualify for subsidies is that in order to find a premium they can afford, they have to take a deductible of $5,000 or more. If you find yourself in that situation, you may want to consider some additional low cost indemnity, specified coverage plans. That is, it may be in your best interest to invest in separate dental insurance (look for a company with real insurance, not just a discount, and be sure to ask about their network limitations), cancer or other specified disease coverage and accident coverage. You may at first feel that the additional coverage is unnecessary and an unnecessary expense, but the advantage is that if you incur the condition, the money comes directly to you and can be a big help toward the high deductible. And there are some companies that pay unlimited lifetime sums for such coverage.
Know what you have
Due to all the media talk about Obamacare, the requirements and deadlines, even people who are not affected by the new law have been asking if they have to sign up. If you are on Medicare, Tricare, or Group insurance, or have VA benefits, the law does not affect you. People on Medicare who opted for an Advantage Plan are expected to see a reduction in their Advantage Plan benefits; if that happens, the option is to return to Original Medicare, not to sign up for a plan on the exchange.
More Changes Expected
Americans have been told that they must have health insurance by April 1, 2014, or they will pay a penalty of $95.00 per month or 1% of their income (whichever is higher) for every month that they did not have insurance. Some people may be able to qualify for a hardship exemption if they were unable to make the purchase in time. There are also exemptions to the penalty for people with hardship or religious beliefs and for those who had their previous plan cancelled. Furthermore, if you have coverage through a group or employer, but the plan does not meet the federal guidelines, you are still eligible to keep the plan you have for another two years.
Ultimately, it is up to you to proactively seek the best affordable coverage for you and your family. Start today!