How to buy individual health insurance

How to buy individual health insurance

1- Introduction

2- Benefits of health insurance

3- Choose a healthy plan


The Affordable Care Act (ACA) establishes the marketplace that allows one to make a comparison of health plans. And the law required that the plans provide adequate coverage.

The ACA, also called Obamacare, has created a health insurance scene in which the vast majority of American citizens give multiple individual insurance options.

Now let's take a look at individual health insurance plans and the ACA market.

Health insurance companies cannot reject you when you apply for coverage or they charge you high premiums because you have a disease, such as heart disease and diabetes.

Before ACA, people with health problems were not able to qualify for a suitable IHP, nor were they able to obtain higher premiums to cover existing conditions.

Benefits of health insurance

The main benefits that must be provided by health insurance companies:

Emergency, Vision and Dental for Children, Prenatal and Maternal Care, Mental Health, Hospitalization, Outpatient Care, Preventive Care, Lab Tests, Prescription Medicines

A person with a low or moderate-income may qualify for a deduction on premiums in the form of benefits or tax credits to reduce health insurance costs. The ACA provides tax credits to help pay for the market plan costs of individuals who reach approximately 400% of the poverty level.

Benefits could save you thousands of dollars a month. Because the Centers for Medicare and Medicaid that a 28-year-old is at 150% of the federal poverty level will pay an average of $ 57 a month for the lowest silver-cost plan. These savings could be over $ 400 per month.

People whose income is below 138% of the federal poverty level may be

Eligible for Medicaid. The ACA allowed states to expand Medicaid to cover more individuals.

Choose a healthy plan

When choosing a health plan, you need to make an assessment of your health care needs, review options, set numbers, and choose a plan that is good for your health and your finances.

You have to ask yourself:

What types of health care will you need in the coming year?

How often do you see the doctor?

What kinds of medicines are you taking?

Ways and means to obtain coverage:

Plans for group health insurance: in which the employer selects the plan (s) and also selects health insurance companies.

Individual health insurance plan: This plan is purchased by you. A single plan can cover a family or one person. You can buy from the health insurance market in your city, which is called the stock exchange, and you can buy directly from individual health insurance companies.

Medicaid and the Children's Health Insurance Program (CHIP)

Medicare Program: This program is intended for individuals over the age of 65.

Disastrous Health Plan: This plan is only available to individuals under the age of 30 who are facing severe financial problems. These plans have the advantage of having low premiums, but high costs. It also provides all the benefits that are in an ACA plan.

Short term insurance plan: This plan is available to most people because it has a low cost and low coverage as well. So it is not technically considered health insurance, and this is because they do not cover many of the main services in the health insurance line. For example, these plans often do not cover maternity care or even mental health coverage.