Things to know before buying health insurance plans

Things to know before buying health insurance plans

The Affordable Care Act has made it possible to buy health insurance at low premiums, thereby enabling year-round coverage. Here are some pointers that have been summed up as a guide to buying affordable health insurance and things to know if you are looking to change over plans or wish to make a choice in picking the right health insurance for you.

Signing up for health insurance

Usually, the sign up is possible only during the “open enrollment” season, which is intimated to the public quite ahead of time (generally between the months of November and January). You can also sign up if you are eligible under any of the “qualifying life events” listed by the Affordable Care Act.

Getting covered under parents’ health insurance plan

If you are 26 years or lesser, you can always choose to stay on your parents’ health insurance irrespective of whether you are having your own earnings, are married, or your employer gives you the choice of getting an individual plan. This helps you avoid paying for a separate coverage or premium.

Buying individual health insurance plans online

In case your employer does not have the option of health insurance, then you can start looking at choices that are available to you in the market, either through the Federal health insurance marketplace or through private insurance providers. You can do all the processing online and this also allows you to compare the best of options before you make a choice.

Different levels of health insurance premiums

Any guide to buying an affordable health insurance plan will show how the state’s healthcare offers are the best in terms of coverage and pricing. There is a variety of choices such as Bronze, Silver, Gold, and Platinum and each of them has its own price range. Individuals who are under the age of 30 and have proof of hardship can get an exemption to purchase the lower cost catastrophic plan. Most of these plans would require you to pay every bit of your medical expense only minus the deductible. The perks of this plan are that you would get three of your primary care visits for a year covered without any costs, and you would also be eligible for certain free preventative services.

The best time to buy an individual health care plan

The best time to buy an affordable health insurance plan is during the season of open enrollment because that is when the cheapest plans open up. When you go out into the marketplace to pick an individual plan out of season, the premiums usually tend to be a little higher than what you would get during the open enrollment season.