Affordable Care Act – What You Should Know About Affordable Care Act Health Insurance Plans
Shopping for coverage prior to Open Enrollment starts on Nov. 1st. “Pre-Open Enrollment” allows individuals and families to determine their health needs and select affordable health plans offered by insurance companies. There’s nothing like the peace of mind obtained from affordable health coverage knowing you’ve made the important decisions regarding your health. Now, Nevadans are able to prepare for open enrollment and get a pre-qualified, affordable health insurance policy that best suits their individual health care needs.
Most insurance companies offer at least a short open enrollment period. This gives people more time to evaluate the variety of coverage plans available and compare costs and benefits before deciding on a health plan. Most plans charge a reasonable rate for individuals who are in good health and do not smoke, have had a clean record on medical treatments, and pay all applicable taxes. Some insurers also offer better discounts for several common medical conditions.
Consumers are encouraged to investigate short-term plans during the open enrollment period. Some carriers offer very affordable care plans for six month periods. These short-term plans are generally designed to help policyholders reduce the cost of healthcare by extending the length of time they stay covered. Short-term plans can also be beneficial for families, who may have significant medical needs but can’t afford to purchase a full policy right away. Premium costs are generally lower for short-term policies because they are implemented for a shorter period.
Another excellent opportunity to save money shopping for health care coverage is the new approach by some carriers to reward good health with higher premium costs. Several carriers will raise rates for older adults or women who smoke. The logic behind this new approach is that those who smoke have more health care needs than healthy people. If smokers continue to smoke, they will soon begin to suffer from chronic health conditions such as cancer and heart disease. In order to protect their own financial interests, insurers will charge them more for coverage.
New California health insurance laws require large, long-term health insurance policies to offer at least catastrophic coverage. According to the new act, such policies will only offer an income protection component. If you would like to purchase a catastrophic policy, it is advisable to talk with a local agent to find out which catastrophic policies are currently available in California. Insurance agents will also be able to tell you how to get an affordable care act quote.
As a result of the new health care legislation, shoppers should take steps to reduce their out-of-pocket health insurance deductibles. As previously mentioned, shopping around is recommended to find the most affordable deductible. Another tip is to keep deductibles low for both preventative and emergency care. This will help you save money in the long run and lower your health care premiums. According to the Kaiser Family Foundation, shopping around can mean the difference between buying health care policies that are affordable and those that are extremely costly.
The Affordable Care Act also encourages consumers to take high deductible health plan coverage and use that money to buy supplemental health coverage or to cut costs on other aspects of the family’s lifestyle. According to Kaiser, by changing the deductible amount, you can save money. Additionally, by using the money for other important purposes, such as education, you can ensure that you can afford the policy while keeping your coverage and deductible levels the same. In many cases, by making a few changes to your current health plan, you can save money on your premium and still have the coverage that you need.
One last tip to remember when shopping for insurance plans: don’t fall victim to the “open enrollment fallacy.” This myth states that all insurance plans and rates are identical for all companies. The truth is that rates and plans vary from one insurance company to another, even on health coverage options. Insurance companies use different factors in their open enrollment policies, such as age, health history, gender, and whether you smoke. By utilizing the tools provided by open enrollment, you can get a general idea of how much you will pay for health coverage and what your current coverage offers you. If you take advantage of the available programs and save money, open enrollment will leave you with peace of mind and a sense of control over your own health care.