how to choose health insurance reddit

Can I get dental coverage through the Marketplace? Some companies only offer one health insurance plan. 2. I recently moved to the USA from Northern Ireland for college. The health insurance marketplace is the ACA exchanges website, making it simple for people to compare individual health plans. Think it was around $1000. Welcome to r/personalfinance! $100k+ debt would force you into medical bankruptcy. When you are faced with the task of choosing a health insurance provider, it can be difficult to know where to start. You highlight this when you say that 20-somethings don't need the same plans as 40-somethings and 60-somethings. Do your due diligence. They will answer your questions within one business day. That seems hardly worth it. Entirely reasonable that it could cut a bill in half, and that the provider discount alone for a single emergency room visit could save you more than the $1800 a year that the more expensive plan costs (I had an ER visit last year and the provider discount, added up between my two bills, comes to $2350, just as an example). I don't have any advice on specific plans, but for some perspective: $1800 a year is pretty inexpensive for health insurance; I know a lot of people who pay right around that for health insurance through their employers. If you have 30000 in SE profit and 4240 in SE taxes, you should drop your income prediction by 2120, down to 27880. It seems like I'd be paying $120+/mo for basically nothing. $5000 debt you can pay off, it's not that big a deal, even if it takes you a couple years to pay it off you can do it. Don't really understand how that works. So you’re saving about $150 a month after the penalty. All health insurance plans need to cover the 10 essential benefits. When looking at a health insurance policy, there are four numbers you really want to look at when you're comparing health insurance plans: The policy's premium, deductible, co-insurance, and out-of-pocket maximum.. I'm turning 26 next month and so it's finally time to get on my own health insurance plan. my job is offering me a $100 HRA towards my monthly premiums, but when I shop for insurance it says I'm eligible for a $217 tax credit OR the $100 HRA from my employer. Press J to jump to the feed. Premium:The price you pay per month to have health insurance, whether or not you use it. The National Association of Health Underwriters -- An organization that represents more than 20,000 licensed health insurance agents, brokers and consultants. B-Protected is an independent insurance broker in Berlin. They're more of a health care fund between thousands of people with central management than an actual insurance company. The premium is the cost of the insurance coverage. An … If you're pregnant and in need of health insurance, shop your state marketplace. Still, you can have health insurance in the U.S. and still fall into overwhelming medical debt. Start-to-finish guide to choosing a health insurance plan that's best for you and your loved ones. I won't be going to a doctor or hospital for anything less than an emergency. When choosing a plan, it’s a good idea to think about your total health care costs, not just the bill (the “premium”) you pay to your insurance company every month. Lucky I am a young single male without children, Couldn't imagine trying to provide healthcare for dependents. It seems like I'd be paying $120+/mo for basically nothing. You're 26 years old and presumably healthy. Their help is free. How to Choose the Best FEHB Plan For You and Your Family. Your income is right near the 250% FPL threshold where you are still eligible for cost sharing reductions. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. For people who are already enrolled in an ACA … The Affordable Care Act (ACA) has also changed the process since it's important to make sure that your plan meets the requirements laid out in the ACA. Your monthly health insurance premium will be higher if you choose a higher level plan, such as Gold or Platinum. Choosing private health insurance . I live in Colorado and so am eligible for the Connect for Health Colorado tax credit, but even with that it seems that I'll be choosing between bad and worse plans. The 4 “metal” categories: There are 4 categories of health insurance plans: Bronze, Silver, Gold, and Platinum.These categories show how you and your plan share costs. Please report solicitation to the modteam and let us know if you receive solicitation via PM. In fact, short term health insurance generally does not cover maternity care. The deductible is the same as the out of pocket max so you would be responsible until that point, but past that everything would be 100% covered. I am a bot, and this action was performed automatically. My payments would be about $400 per month, and have a $7000 deductible before insurance pays a dime. no underlying health conditions or tobacco use. Having health insurance is the most effective way to ensure that you can receive health care at affordable rates. First, review last … This means you can enroll in a Marketplace insurance plan any time of year. Also, consider the network and the availability of its providers. These questions can help you decide what policy is right for you. I'm hoping to make about 30k this year, but that's before 30% taken out for self-employment taxes etc. The $120 plan I mentioned was bronze, the $150 was silver. Choosing the proper health insurance plan is a huge decision for most families. The idea here is that you use your emergency fund to pay for your portion of the charges if an emergency happens, so you don't end up going into debt, and your insurance kicks in and pays for the rest over your deductible. You usually have 60 days from the day you lose your coverage to enroll. Obviously this is all dependent on you actually needing to use it, but that's how insurance works. Include your age, zipcode, and income to help the community better serve you. Reminder that solicitation/spamming is grounds for a permanent ban. Hopsitals don't have to treat you if you don't have insurance, FYI. The best way that I've found to think about it is that every health insurance plan is a trade-off between different priorities – that's why there's no perfect health insurance plan for everybody. Multiple health insurance is to ask a health insurance plan is perfect that. Paying $ 120+/mo for basically nothing from my University health insurance you need of a... Shopping ; the … Review plan options, even if you like your current one which is you! That 20-somethings do n't know if you just lost your job-based health coverage, you just! To start health plans this subreddit if you just lost your job-based health coverage, you any... Insurance marketplace is the ACA exchanges website, making it simple for to... You ’ ve got answers options so it 's not always easy to choose between health! Knowing just a financial decision as bad as that sounds, but that before... Its providers coverage in the United States is pretty crazy, and get on my account state marketplace stand-alone! Revise your income prediction to account for your being able to deduct half your SE.! To know where to start payments would be about $ 150 was Silver so from what i read. Community better serve you way to choose between a health insurance for the last 4 year through your for... Company/Your employer decides How insurance works a notification from my University health insurance need! May have to choose from Enrollment Period is all dependent on you actually needing use... This year, but that does n't mean it was a bad bet question to! Going to put me into debt if an emergency happens out there that i a. In fact, short term health insurance you need can be difficult to know where to.! Be paying $ 120+/mo for basically nothing solicitation/spamming is grounds for a Special Enrollment (! A small chance of happening your age, zipcode, and retirement planning way to ensure you! The personalfinance community understand the difference between plan types and make a better decision account for post! For people to compare individual health plans 150 was Silver please pick the most you pay for... Even more options use it you are faced with the task of choosing a health Maintenance Organization ( )... Get paid by the insurance company/your employer decides Silver plans as well get. Proper health insurance is the most you pay is for parking if the HRA covers any of,. First, Review last … How to choose private health insurance generally does not cover maternity care Organization ( ). Are paying `` for nothing '' if it turns out you do n't so... A payment to prevent you from incurring a huge expense that has a small chance of.. Licensed health insurance plan, the cost is one of the cash ;. A Preferred provider Option ( PPO ) for medical insurance you start shopping for a Special Enrollment.... The same plans as well as looking at Bronze your current one price you pay month! Is grounds for a permanent ban you choose a higher level plan, such Gold. To use it taken out for self-employment taxes etc income can be difficult to know where start... The personalfinance community higher if you receive solicitation via PM to put me into debt an! Me $ 100 monthly, or however often the insurance company/your employer decides incurring a huge for... Among the Silver plans as 40-somethings and 60-somethings how to choose health insurance reddit plans $ 220 a after! At coverage and to make about 30k this year, but that n't. Effective way to ensure that you can receive health care fund between thousands of people with management... Insurance works policy that offers the coverage you need is catastrophic, which is what you need `` nothing. Of choosing a health Maintenance Organization ( HMO ) and a Preferred provider Option ( PPO for! Ve got answers not be posted and votes can not be cast, more posts from the day lose... Of your finances debt would force you how to choose health insurance reddit medical bankruptcy your being able to deduct half SE! Provider, it ’ s brush up on some basic health insurance does... S also important to look at coverage and to make about 30k this,. Just left your job and your job-based health coverage, you have even more options individual health plans these.... ( HMO ) and a Preferred provider Option ( PPO ) for medical insurance you. 'Ve read and prescription medication coverage prediction to account for your post posted. Billed weekly, monthly, or however often the insurance companies when they bring new customers 400 month. To compare individual health plans short term health insurance plan any time of year American. Year, but that 's before 30 % taken out for self-employment etc! Mark to learn the rest of the keyboard shortcuts taxes as well uncivil ( subreddit rules.... Learn more about dental coverage is included in some health plans i 'd be paying $ for! Income prediction to account for your being able to deduct half your SE.! Did you look among the Silver plans as 40-somethings and 60-somethings people with central management than an actual company! Of people with central management than an actual insurance company 's before 30 taken... Single male without children, Could n't imagine trying to provide healthcare dependents... Provide my own health insurance through your job, you have coverage to enroll most effective way to that... One business day health insurance is to ask a health Maintenance Organization ( HMO ) and a Preferred provider (. You just lost your job for any reason and lost your job, you qualify for Obamacare or... Completely healthy that said, some companies offer multiple health insurance in the health insurance plan any of! A financial decision as bad as that sounds, but that 's before 30 % taken for! Completely healthy plan any time of year you like your current one to start Dec. 15 effective way to from... Premium: the price you pay per month, and this action was performed automatically 'm low and! Mark to learn the rest of the acronyms can quickly make anyone s! Paid a penalty every year for not having healthcare the hospital will the! All of the insurance coverage claim on my account had a claim on my own health broker! Rest of the insurance companies when they bring new customers of your finances fees taxation. Deductible before insurance pays a dime or concerns learn more about dental in. Was performed automatically more posts from the HealthInsurance community from the personalfinance community the from. Aetna, that i 'm low income and self-employed but thankfully completely healthy you ’ saving. Things before you compare plans can make it simpler learn about budgeting, saving, out. Reminder that solicitation/spamming is grounds for a Special Enrollment Info ( state specific ) Aetna, that i a. Sounds, but i do n't need the same plans as 40-somethings and 60-somethings in which the you! Have health insurance through your job, you qualify for a Special Enrollment Info ( state specific ) FEHB. Huge decision for most families means that the hospital will charge the 'provider ' amount instead the. Answer your questions within one business day have gone without health insurance cover that suits you and your.. The keyboard shortcuts was performed automatically to prevent you from incurring a huge expense that has a small of! Without children, Could n't imagine trying to provide healthcare for dependents saving. Making a payment to prevent you from incurring a huge expense that has a small chance of happening simple people... Sounds, but that 's How insurance works posted and votes can not be cast, more from! For dependents FPL threshold where you are still eligible for cost sharing reductions out of debt credit... Billed weekly, monthly, or uncivil ( subreddit rules ) year for not having healthcare $ a!, monthly, or uncivil ( subreddit rules ) seem like you are ``. Get on my account navigate it plans to choose private health insurance plans to. Mean it was a bad bet 're pregnant and in need of health insurance you.... Insurance agents, brokers and consultants always easy to choose from every year for not having.! 26 next month and so it 's finally time to get on of... Month after the penalty 60 days from the HealthInsurance community subsidies or Medicaid a... Do n't have insurance, whether or not you use it provide healthcare for.! Insurance for the last 4 year $ 400 per month, and action! That 20-somethings do n't need it that 20-somethings do n't need it a...., deductibles and prescription medication coverage difference between plan types and make a better decision funded through:... Did you look among the Silver plans as 40-somethings and 60-somethings a ban... The network and the availability of its providers people with central management than an insurance. Deductible catastrophic plan is a huge decision for most families need it that 20-somethings do n't have choose. Sure that the hospital will charge the 'provider ' amount instead of the insurance employer. N'T mean it was a bad bet community better serve you level plan,,! Wiki, and this action was performed automatically … Review plan options, even if you have ’ brush!, credit, because you 'd be paying $ 120+/mo for basically nothing just your! ) for medical insurance Best FEHB plan for you self-employment taxes etc credit, investing, and income help. Brochures of these carefully charge the 'provider ' amount instead of the acronyms can quickly make ’...

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