The confusion surrounding health insurance is because of two reasons. Firstly, the number of health insurance providers in the market is growing every year, which is creating further confusion for those who are seeking a coverage plan that is best suited to their individual needs.
And secondly, our government’s ambiguity surrounding healthcare has become a point of concern for the general public as they figure out whether they would keep or lose their current coverage.
While we can’t do much about the latter except for perhaps voting for representatives who are more inclined to push for universal healthcare in the country, the former can be maneuvered with ease once you know all that we know. By the end of this reading, we are sure you would become better prepared to choose a healthcare plan that is perfect for you, especially if you are aiming to take advantage of the coverage being offered by the Affordable Care Act.
Caption: the number of health insurance providers in the market is growing every year, which is creating further confusion with each passing day
A Few Changes
While last year going straight to the exchange and signing up for a healthcare coverage plan may have seemed like the most prudent option for you, a lot of has changed in the past year that is bound to significantly impact your choices.
For example, state regulations as well as individual insurers have amended their policies according to the changes proposed by the federal government. Not only that, but the subsidy being provided by the government to those who have been buying insurance from exchanges may just qualify for government insurance schemes this year.
Those going for coverage under the ACA may have noticed that they are not seeing many advertisements about the scheme being offered under the program, and that is because the government cut funding for such advertisements in 2017.
The government also pulled back the funding it previously gave out to navigators, those who were tasked to create awareness and provide guidance to people about the ACA enrollment process, making it more difficult for people to enroll in the program due to increased ambiguity and lack of knowledge.
Caption: state regulations as well as individual insurers have amended their policies according to the changes proposed by the federal government
Healthcare Plan Starter Pack
You stand a better chance of securing a good coverage for yourself and your family if you do some thorough homework. For starters, that means knowing the enrollment dates of plans so that you don’t miss out on their deadline while deliberating on which plan to subscribe. Another very important analysis you must make is of your next year’s requirements.
This basically means that you need to make a list of all potential health issues you could be facing in 2019 that would require medical assistance, as this way you can at least shortlist those plans that cover your unique needs.
Research, Research, and More Research
Facts will vary state by state, so don’t rely on universal advice that tells you to follow a particular direction. Instead, do you own research, and look out for factors that suit your needs, such as whether you have qualified for any tax credits against the insurance purchases you’ve made on the exchange in previous years, which is entirely possible considering the fact that 80% exchange insurance buyers qualify for such tax credits by the government.
Caption: Facts will vary state by state, so don’t rely on universal advice that tells you to follow a particular direction regardless of your state’s regulations.
Look Around For Options
The exchange is not the only place where you can secure a decent enough insurance plan for yourself. You should look off-the-exchange for a plan as well, because some companies are selling individual plans that are offering better value compared to what you may be able to find on the exchange.
However, you should do this only if you don’t qualify for the tax credit subsidy, as otherwise the exchange is the right place for you to secure an insurance coverage package as you may be able to find a more suitable offer for yourself on it.
Although you may feel more comfortable getting advice from a professional about which healthcare plan you should purchase, but sometimes the people around you such as your friends, family, and neighbors, have better information about the perfect healthcare plan for you.
You should keep in mind that those offering professional services to help you sign up with coverage plan do so because they earn from it, so they may or may not have your best interests at heart. That is why asking around for the people you know and finding someone who is knowledgeable enough about health insurance in your area would be the best thing for you.