The health insurance marketplace is an online exchange where you can find, compare and purchase health insurance plans. To make it easier to research health insurance plans on your state’s marketplace, it is helpful if you understand the below terms.
Deductible: This is a flat dollar amount that you must pay for your medical services before your health insurance plan kicks in. Many health insurance plans will pay for certain preventive services before a deductible is met, such as routine checkups.
Premium: This is the amount that you pay to a health insurance company every month in order to maintain your insurance coverage. In some cases, you may have a quarterly premium, which means that you would pay four times a year instead of every month.
Once you are viewing your state’s Health Insurance Marketplace, you can compare up to three plans side by side. You can also narrow down your options by using different search filters. You will notice that each plan is categorized by the name of a metal, this tells you the plan’s level of cost and coverage, it has nothing to do with the quality of care.
- Bronze and Silver plans generally have cheaper premiums and higher deductibles.
- Gold and Platinum plans tend to have higher premiums and lower deductibles.
You can find cheap health insurance by purchasing a plan through your state’s Health Insurance Marketplace, which is an online portal with hundreds of available insurance plans.
The Health Insurance Marketplace was created under the Affordable Care Act in an effort to provide Americans with economical options for health insurance. Your state’s online marketplace is a great resource for you to find a low cost health insurance plan that you can trust because each plan must follow comprehensive government guidelines.
You can purchase cheap health insurance through your state’s marketplace during the open enrollment period of November 1 and December 15th as long as you meet the below conditions:
- You live in the United States
- You are a U.S. citizen or national
- You are not incarcerated
To find the cheapest health insurance available, make sure to do your research. You can compare and contrast different health insurance policies available through your state’s marketplace in advance of the open enrollment period.
You may also be entitled to tax breaks, which means you could save even more money. The Marketplace website should let you know what you are entitled to when you complete your application.
By Admin –
