10 Tips for Picking an ACA Health Plan that Works for You
Have you selected your insurance coverage for 2020? If not, then you need to get on it because while open enrollment keeps getting extended for the Affordable Care Act compliance, the extensions won’t last forever. To help you narrow down your options, the professionals at Sackett and Associates Insurance Services have compiled a list of ten tips.
1. Know the Costs
Unfortunately, many people have an unrealistic expectation of health insurance costs. Therefore, set realistic expectations. While someone receiving government subsidies can often find coverage for under $100 per month, people who do not qualify for subsidies can usually expect to pay over $400 per month for individual coverage and nearly $1,200 for a family.
2. Keep Your Doctor
Next, make sure the plan you choose works with your preferred doctor, if that is important to you. Many people are comfortable with their primary care physician and do not wish to change, so select a plan that ensures you don’t have to.
3. Check Subsidy Qualifications
Also, to help you save money, check to see if you qualify for government subsidies. If you are no more than 400% above the federal poverty level, then you may be eligible for assistance in lowering your monthly premiums.
4. Review Prescription Coverage
Are you taking any prescriptions? If so, you will want to find a plan that covers your medication at the lowest cost.
5. Understand Expenses
Also, know your copay for standard medical procedures or situations. For example, how much will you be required to pay for a doctor’s office visit or an annual checkup?
6. Know Out-of-Pocket Costs
Regardless of the coverage you find, you will have outside medical expenses. Therefore, pay attention to your deductible and maximum out-of-pocket costs. You need to be able to afford these costs in the event of an emergency.
7. Work With a Broker
Next, it can be helpful to work with a licensed insurance broker. Insurance policies are often complicated to understand, especially if you have never had insurance before. Therefore, asking an insurance professional, such as a broker, for help can make the process that much easier.
8. Look Offsite
If you do not qualify for government subsidies, then you may be providing yourself a disservice by only shopping through the government marketplace. You may be able to find other ACA compliant plans offsite that are less expensive and suit your specific needs better.
9. Avoid the Rush
While a little impossible to avoid the rush for 2020, keep in mind that selecting a plan for 2021 may be less stressful if done earlier in the year. Also, the government site is notorious for having problems toward the end of open enrollment.
10. Get Insurance
Last, while shopping for health insurance can be overwhelming, it is necessary. Don’t push off enrolling in health care. Life is unpredictable, and you never know when you may need insurance.
Are you still searching for the right insurance plan for you and your family? If so, then contact Sackett & Associates Insurance Services for some help.
