Being more informed about health insurance makes the process of purchasing the right health plan for yourself and your family easier. Health insurance covers your medical expenses – i.e. if you get sick or injured. Health insurance also covers preventive care like doctor’s visits and medical testing.
Health insurance plans must meet specific criteria, as well as other regulations that vary on a state-by-state basis.
Who Needs health insurance?
Everyone should buy health insurance because medical costs are too high to cover out of pocket. Medical bills are one of the top causes of consumer debt.
When shopping for health insurance many personal factors go into your decision and what plan is right for you and your family.
If you’re buying health insurance and you fit into one of the following groups, we’ve listed a few factors to consider.
Families
Family health insurance plans often have a family deductible in addition to individual deductibles for each family member as well. Individual deductibles are usually lower than the family deductible. Once an individual meets their deductible, their health insurance plan kicks in for them. Once the family deductible is reached, health insurance kicks in for every member of the family, regardless of whether an individual has reached their deductible.
Students
As a student, you have the option of staying on a parent’s health insurance plan until the age of 26 with their approval. Out of state students should always check their parent’s plan’s network for coverage. Universities also offer health insurance plans that are often affordable.
Self-employed
If you are self-employed after leaving a full-time W-2 job where you had health insurance, COBRA can continue your previous employer’s coverage until you’re able to find insurance. Seeking affordable premiums is important for self-employed consumers due to monthly income being variable. Self-employed health insurance purchasers that travel should seek a plan that allows seeing out-of-network providers, like a PPO or POS plan. Health insurance premiums are also tax-deductible in certain cases.
Low Income
If you’re living on a low-income, between 100% and 400% of the federal poverty line, you’d most likely qualify for Medicaid. Medicaid is controlled by states, according to federal specifications. The program is supported by states and the federal government. Having health coverage is financially responsible in the long run, a serious health issue cant turn into a financial issue. Catastrophic plans are also a great low-cost option that can protect you from the cost of serious illness or accidents.
Pregnant
All qualifying health insurance plans, under the ACA, are required to cover maternity care and childbirth-related services. If you become pregnant before coverage starts these services are still covered. Every plan will explain how childbirth is covered in the Summary of Benefits and Coverage document. Having a child is considered a qualifying event and you will able to enroll in a new plan or change health insurance. In some states, like New York, becoming pregnant qualifies you for a special enrollment period. Medicaid also covers Maternity care and childbirth. If you qualify for Medicaid and become pregnant, you can apply at any time during the year.
Senior citizen
Being over the age of 65 qualifies you for Medicare. The federal program help covers health care costs into old age. Supplemental insurance, which can help cover the cost of deductibles, copayments, and coinsurance, is a great option as well.
In conclusion, everyone should have health insurance coverage to help cover the cost of medical needs. Depending on your specific circumstances there are options for everyone. Comparing health insurance rates and understanding what coverage you need can be overwhelming and hard to understand. Let My USA Quotes help you find what medical insurance is right for you today. Please call (888)-845-9807.
