How to Get Health Insurance: A Simple Guide
How do you get health insurance? Getting health insurance can be confusing, with so many different carriers and plans. This article lays out the steps you need to take to get health insurance, including information on how to choose your plan, sign up, and keep it going once you’re enrolled. Before we begin, though, let’s first make sure you are eligible for health insurance in the first place!
The Basics
Before you even think about getting health insurance, it’s essential to know what constitutes health insurance. If you receive healthcare at a facility your employer runs, you most likely have employer-sponsored health insurance. In contrast, if you don’t have an employer (or can’t use your company benefits), purchasing individual health insurance is a brilliant next step.
Tips for Finding Affordable Healthcare
While some countries worldwide require citizens to purchase health insurance, it’s an entirely different story in America. The U.S. government doesn’t make you get insurance, but it also doesn’t subsidize people who can’t afford coverage—which means healthcare costs for Americans without insurance are astronomical. If you don’t have a job that provides health benefits, or if your employer doesn’t offer affordable coverage, there are still ways to find low-cost or free health insurance.
Getting Help from a Broker
Brokers can be suitable for some people, but if you are young and healthy, you might be able to get cheaper health insurance on your own—primarily through an online marketplace like Healthcare.gov. The only way to know for sure is by comparing plans and prices yourself. If a broker charges more than $500, don’t use them. There are plenty of other (better) options out there. Plus, if you go with a broker, make sure they aren’t charging extra fees for helping you sign up. And always ask about what percentage they will receive from your premium payments before agreeing to anything.
The Hidden Costs of Healthcare
Before you get health insurance, be sure you know what kinds of costs you might face. If your income isn’t high enough or your assets are too significant, it’s possible that you won’t be able to qualify for health insurance at all. If that happens, it may make sense for you to skip out on paying a premium and pay cash when healthcare services are needed. What do you need to know? Premiums, co-pays, co-insurance, and deductibles will vary by provider and plan type (i.e., HMO vs. PPO). In general, though, these costs can quickly add up—so don’t forget to factor them into your budget before deciding whether or not to get health insurance.