Each person has a unique health and financial situation, therefore the best plan for any person is dependent on a few factors. First, how much can you afford to pay per month for health insurance? Then, how low do you want your out of pocket expenses? Our agnets will help you search for the best balance of cost and out-of-pocket expenses for your case.
Insurance providers set a minimum amount that you must spend out of pocket prior to your insurance kicking in. The deductible amount typically is a total over a 12 month period. For example, if you’re deductible is $2500, then after you’ve accumulated over $2500 in medical bills during a year period, then you’re insurance will kick in and start to cover the remaining costs.
Healthier people tend to choose higher deductible plans. But, keep in mind, that you must be financially able to pay this deductible amount in the event of an emergency.
If you meet a certain life condition, such as moving to a new state or getting a new job, then you can enroll in a new healthcare plan at any time.
If you don’t have a valid reason for purchasing healthcare outside of open enrollment, then you may purchase a short term plan that can last up to 12 months.
An HMO plan limits you to only doctors within your network, and matches you to a primary care doctor. Prior to any new medical procedures or appointments, you will need to visit your primary care doctor for a referral for it to be covered by your plan.
A PPO plan allows you to access a much wider range of doctors, and gives you the flexibility to go visit any of those doctors without a referral. This plan offers the most flexibility, but also costs significantly more.
Subsidized plans are handled on a case by case basis. Each applicant will be analyzed based on their income and other criteria to see if they should be eligible to receive subsidized health insurance.
Typically, a candidate’s income must only be slightly above the U.S. poverty level in order to qualify. This amount ranges depending on the number of people in your household. For a 1 person household, the limit is approximately $16,642 in yearly income, and for a 4 person it is $33,948.
In most cases, employers offer a limited number of options for healthcare, which would most likely limit you to several options from just one carrier. An employer may pay some or all of these costs for you, but keep in mind that you will still be taxed on the payments as income, and in many cases an employer would be willing to pay you directly your health insurance benefits versus enrolling you in one of their plans.
If you choose to enroll in your own plan, you will have much more flexibility when it comes to which plan you choose. Much of the time, people can find a much more suitable plan at a more affordable price when choosing a plan on their own.
The right health insurance provider is a personal preference. Many people have different preferences. For some it’s the cheapest cost, and for others it’s the least out-of-pocket costs.
Quick Health can help you find the right provider and plan for your case.
The lowest deductible is usually $500 for the most premium health plans. In some states there are $0 deductible plans, but they can be very expense, and may outweigh the added costs involved.
If you speak to our agents, we can help look at your unique health situation and help calculate the best plan that will cost you the least amount of money out of pocket over time.