Finding the best and most affordable health insurance policy can be as simple as choosing a great company such as Health Insurance Innovations. With the changes being made in the marketplace, there are more options than ever for people to find themselves a policy to afford. If you want to find a great plan, consider letting the Health Insurance Innovations professionals found on the www.nasdaq.com website help you out. Aside from this great company, below are some tips that anyone can use themselves to find an affordable health care plan.
Check For Subsidies
When you are planning to purchase a health care plan for an individual, you have two options available to you. You can buy it straight from the carrier or shop through the policies that are listed in your state health insurance exchange. The exchange is a type of health insurance “marketplace” where private insurers are able to offer their plans for small businesses, families and individuals looking for standardized pricing.
Consider A Basic Health Plan
If you are looking to keep your monthly expenses at a minimum, one of the best things to choose when selecting a health insurance plan is a high deductible. Generally, the higher your deductible is, the lower your monthly plan premiums will be. However, you should choose this option carefully. If something happens and you need to meet your deductible to use your coverage, you might not have enough money for it. They are called high deductibles for this reason.
Check If You Can Get Approved For Medicaid
To help increase how many people have health insurance, the ACA has created a new minimum to meet Medicaid eligibility requirements. If you have been in the middle class for a while and just recently had your pay cut or you have had a drop in household income, you might be able to get approved for Medicaid. You will have a great chance at being approved if you are living in a state that has raised their income limits to more than the federal cut-off requirements. It doesn’t take a whole lot of extra effort to see if you are approved for Medicaid. If you have filled out an application to determine if you get a tax credit, you will be able to use that same application to determine your Medicaid eligibility.
Look Into Parent’s Health Plan
Many young adults and college students are finding it tough to invest in their health and afford a decent plan on their own. However, many college-aged individuals are able to stay on or be added to their parent’s health insurance plans until they turn 26 years old if they are in college and have proof. Additionally, you would also have to be living at the same residence as your parents to be eligible. If you are financially independent and cannot be added to your employer’s insurance plan, you can have a better chance of being added to your parent’s health plan.
As you can see, it is easy to find savings on your health insurance premiums by looking at your options. One of the best ways to save money is to take your time to compare different plans sold on exchanges or through a specific carrier. It should be noted that lower premiums don’t always equate to the best deal in insurance plans.