There are different of ways that you can get your health insurance plan. If you are newly employed, your employer may offer health benefits. Otherwise, you can also get on the marketplace (Federal or State), or off the marketplace. This article provides a detailed explanation of how to get health insurance.
Getting health insurance can be a seemingly difficult process. Purchasing one is different from other insurance types. You will need to buy your medical care from a health insurer provider, which is not so easy to navigate. On the other hand, it can be very easy if you know how it works.
Types of Health Insurance Coverage
We have different kinds of health insurance plans and they each have their pros and cons. So, you have to decide which of the plans best suits your needs. Below is the list of insurance plans we have.
HMO (Health Maintenance Organization)
This is a lower-cost, friendly pocket health insurance plan. A primary doctor attends to all your health care needs. However, you do not have the option of choosing a care provider for yourself.
Meanwhile, to get the coverage at a lower cost, you have to stay in-network, so the healthcare providers would have contracted your insurance plan to offer it at a lower rate. HMOs are responsible for patient’s care needs, give recommendations and offer referrals for medical specialist.
PPO (Preferred Provider Organization)
This type of health Insurance Plan is different form HMO, but it is also lower-cost friendly. The advantage of Preferred Provider Organization is having multiple provider options and you do not need a referral for medical specialist. All health care needs are provided by your insurance plan. But it is at a higher cost.
EPO (Exclusive Provider Organization
EPO is also a lower-cost plan. . An in-network doctor attends to all your health care needs. However, you have less freedom in choosing a care provider except for emergency health situations. Primarily, there is no required referral by your specialist, but in case there is a need, there are fewer options of choosing the provider.
POS (Point of Service Plans)
With this plan, you can choose your primary care specialist or doctor who will take charge of your medical care, specialist recommendations, treatments and provides medical referrals.
High-Deductible Health Plans (HDHPs)
HDHPs provide a higher deductible with lower premium rates. They offer various health plans and insurance coverage, such as HMOs and PPOs. HDHPs offer a health savings account (HSA) that allows you to save on pretax money for your medical expenses.
Where to Buy a Health Insurance Plan
If you are looking to get insurance plan, there are different ways that you can. Below are the common ways to buy a insurance coverage.
Health Insurance through your workplace
One of the most popular ways to get health insurance is through your employer. Many employers offer health benefit coverage to their employees. To get this, you have to be employed by a company or an employer offering a health plan as one of its employee perks. The company will offer to cover part of your medical premiums while you pay the remaining cost.
Health Insurance through the Marketplace
You can also purchase your health care insurance by yourself either from the federal or state marketplace. The plans come in different categories such as Platinum, Gold, Silver, and Bronze. Platinum covers over 90% of your medical cost, bronze plans cover 60%, and if you are qualified for extra savings, you can purchase a silver plan to get the savings.
When you purchase your plan from the marketplace, you can qualify for a premium tax credit to help lower the costs of your insurance.
Off-Marketplace Health Insurance
If you cannot get your health care insurance plan from the marketplace, you also have an option of buying directly from an insurance company or broker yourself. However, you won’t be qualified for a premium tax credit to help lower the cost rate of the plan.
When can you sign up for health Insurance
Health insurance is quite different from other kind of insurance, this is because you cannot sign up whenever you want. To get coverage the following must happen:
- Your employer is offering you health benefits: If you just accepted a new job offer and your employer is offering health benefits, you can sign up for health benefits within the time frame that your employer fixed.
- Annual Open enrollment: Although the time frame differs by states. Ensure to be update with the opening of the enrollment in your State so you enroll at the specified time.
- You have a qualifying event: If you just got married or you are having a new baby, you may be eligible to enroll for a special enrollment period.
How to Compare Health Insurance Plans
The type of plan you want will determine the choices you will make when comparing plans. If you are getting your insurance from your employer, you will have restricted options in choosing a plan. Here are the different ways that you can compare plans.
- Check and estimate your budget
- Access the health plan services
- Ponder on your preferred doctor and specialist.
- Check if you need in-network or out-of-network to see specialist.
Frequently Asked Questions
How do I get Health Insurance with No Job?
If you do not have a job, you can purchase yourself. You can decide to purchase one on the marketplace or off-the marketplace depending on your budget and health care needs.
How to get health insurance cheaply?
Although getting cheap health coverage is not so easy. However, you can check for job offers that provides health care benefits. In this case, your employer will pay part of your insurance premiums. You can also lower your premium by enrolling on the marketplace because you may qualify for a premium tax credit to help lower the costs of your insurance.
How to Get Health Insurance After Open Enrollment?
Once the open enrollment is over, you can get insurance through the Special Enrollment Period (SEP) caused by a qualifying life event.
