02 Apr 2019

7 Things to Look for When Signing up for Health Insurance

7 Things to Look for When Signing up for Health Insurance

In 2017, 28.5 million Americans did not have health insurance. People who are uninsured often avoid going to the doctor, so they do not have to pay high health care costs. Avoid that problem by browsing through policies and selecting a health insurance option.

Check the premium

Insurance companies charge a fixed monthly rate for policies. This is called the premium. Premium credits are available based on income through the Health Insurance Marketplace, but not everyone is eligible for a credit. Check the premium to make sure it is affordable.

Look at the deductible

The deductible refers to the amount the insured must pay before the insurance company starts paying. Some insurance policies require that the full deductible is met before the company covers any expenses, while others cover some expenses before the deductible is reached. For example, some policies cover annual exams and other preventative care before the deductible is met. Read the fine print to avoid high out-of-pocket costs.

Consider the co-pay

Insurance companies require that people pay a co-pay for various services. People are expected to pay the co-pay at the time of receiving services, and the amount paid does not go toward the deductible. Choosing a policy with a high co-pay can make it difficult to get health care services.

Check the maximum out-of-pocket cost

Insurance policies have a maximum out-of-pocket cost. This is the most that people will have to pay out of their own pockets for co-pays, coinsurance, and deductibles over the course of the year. Once the maximum out-of-pocket cost is met, the insured does not pay any additional money out of pocket. Consider the maximum out-of-pocket cost when selecting an insurance policy.

See which doctors are available

Most people already have doctors before switching insurance plans. It is important to see which doctors are covered in the network before buying a plan. Otherwise, the insured might have to switch doctors after changing insurance plans.

Check how much coverage is available for the health insurance policy

The amount of coverage is also important. Some policies cover extra services such as acupuncture and weight loss programs, while others only cover the bare minimum. People need to choose a policy that covers everything they need to limit out-of-pocket expenses.

See if you qualify for Medicaid

Some people want to know how to sign up for free health insurance. Free and low-cost health insurance is available through Medicaid, but people must qualify to receive coverage. Eligibility depends on the state of residence, family size, and income. Those interested should fill out the online form to see if they qualify.

 

How to Sign up for Health Insurance

Now that you know what to look for, you have one more question. You are likely wondering, “where can I sign up for the best health insurance for my family and me?” It is easy to sign up for health insurance with healthquoteinfo! Call 1-855-614-5057 to speak to a licensed insurance agent today!

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