Need Individual Health Insurance Plan?
Though getting health insurance through employers is what most of the Americans prefer, individual health insurance is one way to get the much-needed coverage for someone who is not eligible for an employer-sponsored plan. In fact, depending on the income amount and its stability, one may end up paying less for an individual health insurance plan which can be made available either through the Affordable Care Act (ACA) exchanges and outside the exchanges. According to the health law, anyone who applies should get qualified for insurance cover.
It is important to explore multiple options carefully in order to identify the plan that works best for your budget and requirements. Here they are:
- Bronze plan may work best for you if you want low premiums and do not need many healthcare services.
- Silver is for someone who wants low premiums but do not want to pay hefty out-of-pocket costs.
- Gold is for someone who knows that he will pay less in out-of-pocket costs but pay higher premiums.
- With Platinum, you can minimize out-of-pocket costs as much as possible. It is for those who do not mind paying higher premiums.
It may be quite confusing to figure out which health insurance plan is ideal for your financial situation and unique requirements. You certainly need a hand of support. Apply to receive specialist guidance, a reliable one, to research suitable individual health insurance programs and pick the one that serves you in the best possible manner.
Your individual health insurance plan may sometimes be referred to as a "benefit package."
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So, How Much Is This Going To Cost?
With the Affordable Care Act’s (ACA) signing in 2010, insurance companies were allowed only the following 5 areas when setting premium costs:
- Age-premiums for older individuals up to 3 times more costly
- Location-Your location, local costs of services, rules and cost of living factor in to premiums
- Tobacco Use-Non-smokers premiums can be as much as 50% less
- Individual versus family enrollment-more people covered higher premium
Plan category- health plans are in tiers bronze, silver, gold, platinum and catastrophic. The bronze level has least expensive premiums but highest out of pocket expense continuing on up to platinum which has the highest premium with the lowest deductibles and out of pocket costs. Catastrophic plans have low premiums but only cover after extremely high deductible and out of pocket expenses.