Looking for new health insurance coverage for 2021? Open enrollment is open until December 15! Be sure to ask these important questions about health insurance when searching for a new plan!
What kind of plan is it?
Typical health insurance is for those under age 65 who make over 138 percent of the federal poverty line in expansion states and 133 percent in non-expansion states. Those over age 65 qualify for Medicare coverage and those with a low enough income qualify for Medicaid. Both Original Medicare and Medicaid are governmentally run programs, whereas health insurance is offered solely through private carriers.
There are several types of health insurance plans to discuss with your agent. Common types include conventional insurance plans, Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Point of Service Plans (POSs), and consumer-driver plans like Health Savings Accounts (HSAs). It is important to remember that not all plans are equal, and not all companies carry the same types of policies. Some of these may be offered through your job, but if you are searching for coverage via the health insurance marketplace or through private companies, you should speak to a licensed agent to learn which options may be best for you!
Do my doctors accept this plan?
Not all doctors are within every carrier’s network, nor do they accept every available plan. For example, PPO and HMO plans are both popular insurance options, but while PPOs are a discount system with a wider array of included doctors, HMOs provide cheaper access to a more limited provider network. If switching doctors is a big deal for you or your family, make sure that your physician accepts whatever health plan you choose.
What core benefits are included?
Most insurance consumers will purchase coverage through a state or national health insurance marketplace. The Marketplace includes only Affordable Care Act (ACA) compliant plans that are all required to cover 10 essential health benefits, including hospitalization, prescription drugs, preventative care, and emergency services.
Are there any additional benefits included?
All Marketplace plans must also cover birth control and breastfeeding support. Services like dental or vision coverage, or medical management programs, may be included with some plans. Included plans may vary by state, carrier, and policy. If your new plan does not cover these services, you can purchase ancillary plans that will help lower the cost of this extra coverage.
What will this plan cost?
Insurance is always an investment; it provides coverage just in case an unpredictable circumstance pops up down the line. If you are worried about the cost of health insurance, there are ways to lower your monthly premiums so that you can afford the coverage you need. From applying through the Marketplace and getting tax credits to taking a higher deductible and purchasing an ancillary product to help lower the cost of potential hospitalization, there are options to lower your monthly premium. Speak with an agent today by calling (844) 410-1320 to talk about your options!
Health Insurance Questions?
We hope these questions about health insurance are helpful for you.
Empower Brokerage wants to help you understand the insurance coverage you need and how to save money getting it. Stay on top of your health and give us a call at (844) 410-1320
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