Starting in 2019, the mandate that required individuals to carry health insurance is no longer applicable. This mandate, created by the Obama administration, penalized individuals for not having health insurance.
But, this doesn’t mean you shouldn’t get health insurance. Especially, if you have a family.
If you’re looking for affordable health insurance for your loved ones, you’ll need to know how to choose a health insurance plan.
Choosing a health insurance plan isn’t an easy task. Included in this process is a host of jargon, financial considerations, and sometimes fortune-telling. This can make choosing a health insurance plan for your entire family an anxiety-provoking affair.
As the head of the household, you have a lot of responsibility weighing on your shoulders. You want to get things right and ensure your family is protected. You also need to stick to your budget so you can meet your family’s daily needs.
If you are new to selecting a health insurance plan, contact a health insurance agency. An agency can create multiple quotes to compare plans. Seeking out an agent is also a good idea for self-employed individuals.
Ready to learn more about family health insurance? Read on to find out how to choose a health insurance plan.
We’ve Got You Covered: How to Choose a Health Insurance Plan
There are many health insurance options to choose from. From private insurance companies to the federal marketplace, there’s a health insurance plan perfect for your family. Explore the following advice on how to choose a health insurance plan that meets your needs.
1. Understanding Family Insurance Plans
Family health insurance plans aren’t much different from individual plans. But, keep in mind that there are specific rules for who can be added to your family policy.
The most confusing aspect of the family insurance plans is the deductible. Each family member on the policy will have an individual deductible. But, the family plan will also have an overarching family deductible.
When an individual meets their deductible, only the individual will see the immediate benefits. However, their payment toward their individual deductible will also be applied to the family deductible.
When the family deductible is met, all of the members on the policy will receive the benefits.
2. Assess Your Family’s Medical Needs
Pre-existing conditions require you to be highly critical of health insurance plans. Especially, if one of your family members needs specialized care on a regular basis.
Start by writing down all of your family members typical medical needs no matter how small or large. This includes reoccurring appointments, medications, and regular doctor visits. Annual visits should also be included on this list.
For example, a yearly pap smear, going to the dentist twice a year and getting a yearly physical. Keep in mind, however, that dental and vision insurance isn’t always included with standard health insurance. You can pay for it at an additional cost or purchase it separately.
3. Consider Your Current Doctors
Create another list of all of the doctors your family sees on a regular basis. You can search on each insurance policy’s in-network providers directory to determine if your visits will be fully covered.
If they aren’t, keep in mind partial benefits may be applicable. On some plans, however, seeing an out-of-network provider may require you to pay out-of-pocket.
Some plans also require your primary physician to make referrals to specialists. This gives you less freedom to choose which doctors you are referred to and when you can see them. If you don’t mind your primary care physician being in charge of coordinating your care, then you may be able to receive lower out-of-pocket costs or a larger selection of in-network providers.
4. Premiums and Out-of-Pocket Costs
78% of Americans live pay to paycheck. But, you can still get affordable health insurance when you’re living on a budget.
One of the most important factors for people searching for health insurance is the premium. This is the amount you will pay on a monthly basis despite your medical costs.
Out-of-pocket costs include co-pays, out-of-network care, and your deductible. Your deductible is the amount of money you must pay before your full insurance benefits kick in. Deductibles and out-of-pocket costs can vary from plan to plan.
To start, determine how much you are able to pay on a monthly basis. If your budget is tight, consider getting a federal or state marketplace plan or enrolling in your employer’s health insurance plan. Your employer may pay a portion of your health insurance premiums.
However, enrolling in an employer plan doesn’t mean you’ll be saving money overall. Additional research and considerations are required to understand the full costs.
5. ACA and Non-ACA Plans
The Affordable Care Act gives every American access to affordable health care insurance. It provides individuals with government subsidies to lower the cost of their health insurance. The amount of government subsidies you receive will depend on your income, family size, and your location.
Visit healthcare.gov to begin searching for family health insurance plans.
Research your state’s laws to determine if you can receive health insurance using state funds. State laws vary so it’s important to become familiar with them so you ensure you’re getting the right plan and price.
Anyone can seek out non-ACA plans. You can obtain these plans through private insurance companies. These plans can be more expensive than ACA plans, however, since no government subsidies are applicable.
What’s most important is that you find a plan that matches your budget and your family’s medical needs. The plan you choose should make you feel more at ease knowing you’ll be able to afford medical care and that your family is covered in the case of an emergency.
Gaining Support: How to Choose a Health Insurance Plan
Knowing how to choose a health insurance plan is a great start. But, you don’t have to navigate this process alone. Gain support by enlisting the help of a health insurance agency.
These agencies can produce multiple quotes for health insurance plans. They can also assist you in comparing coverage and explaining the benefits of each policy. They can also walk you through an explanation of each aspect of the policy.
Find a reputable health insurance agency who has your best interests at heart. Check online reviews and understand the agency’s payment policies. Speak with the company directly to learn more about their processes.
Need a reputable health insurance agency in Florida? Contact us today to book an appointment to get help choosing your family’s health insurance plan.