Medical insurance is one of the most important and crucial purchases you’ll make all year. Comparing health insurance as well as obtaining medical insurance quotes is readily available through healthcare.gov and other sites. With a little expertise and research, you will be able to find a health plan that is right for you.
When can you buy a plan?
In Florida, you can buy a health insurance plan, through the marketplace, from November 1st through December 15th. Outside of this window, you can only purchase plans for special circumstances, like moving, getting married, having a child, and the like.
Types of individual health plans
Although they must cover certain benefits, health plans still vary in how they are structured and how much of your health care costs they pay.
Health plans in the Affordable Care Act marketplace are divided into levels, based on the percentage of health care costs the plans pay and the portion you pay out of pocket, including the deductible, copayments and coinsurance.
So, you can see at the lower level, bronze, you have the lowest monthly premium, but you are paying up to 40% of the medical costs you incur. Whereas at the higher level, platinum, you only pay 10% of the costs you incur, but are paying a much higher premium. You will want to choose the level that makes sense for you. If you don’t anticipate needing that much health care, then paying a lower monthly premium at the bronze level make sense. Bronze and silver are the most commonly chosen levels.
Note that you can also be eligible for subsidies if your income level falls below 400% of the poverty level. In 2020, that equates to $49,960 for an individual. The amount of your subsidy will vary with your income level. You may also get discounts on co-pays and deductibles if your income is below 250% of the poverty level, which is $31,225 for an individual in 2020.
Comparing Health Plans
In addition to cost, here are a few additional things you should look at when comparing health plans.
The network of doctors. If you have a doctor that you want to keep, ensure that they are in the plan’s network. Also, make sure that any specialists you may need are available in the network, and within a reasonable distance from your home.
What is covered. Make sure that prescriptions you may be taking are covered by the plan. Also, if there is a particular service that you need, look at how the plans cover that service. Some plans offer more coverage in certain areas, which may benefit your situation.
Need help Choosing a Plan?
Looking across all the health plans and all the various levels can be quite time consuming and confusing.
That’s where we can help. Florida Health Agency is an independent agency that helps people like you find the best coverage for their needs and their budget. Our meetings with you are at no cost to you. We work with multiple insurance providers, so our advice is not tied to any one provider. We work for you to get you the best insurance period, and take all of the hassle out of getting an insurance plan.
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This website and its contents are for informational purposes only. Nothing on the website should ever be used as a substitute for professional medical advice. You should always consult with your medical provider regarding diagnosis or treatment for a health condition, including decisions about the correct medication for your condition, as well as prior to undertaking any specific exercise or dietary routine.
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