A high-deductible health plan (HDHP) is a special type of plan that typically offers a lower premium than a traditional health plan. The trade-off is that what you pay out of pocket for medical expenses is typically more.
Medicare Part A. Medicare Part B. Medicare Advantage. Medicare supplement plans. Prescription drug plans. An employer’s group health plan. A retiree plan from a previous employer. The health insurance choices for people age 65 and older can seem daunting. How do you sort them all out? Which plan or combination of plans is best for you? There are lots of questions, but WPS is here to help.
It used to be there was only one option available if you lost your job-based health insurance: get COBRA continuation coverage. Now, if you find yourself without the health insurance benefits from a job, you also have other options: get an individual plan on or off the Marketplace.
Under the Affordable Care Act (ACA), preventive care must be covered by insurance plans 100%. Preventive care helps keep people healthier and reduces health care expenses in the long term.
Beginning Oct. 1, 2013, individuals and small businesses can shop for health plans that go into effect on Jan. 1, 2014, through insurance Marketplaces, also called exchanges, in each state. People will still be able to purchase insurance directly from an insurance company or through a broker. The Marketplaces simply offer a new option. They are intended to increase the size of the insured pool to spread out risk and keep costs stable.
Beginning in 2014, if you are a single person making less than $44,680 annually (in 2012 dollars) or have a family of four that makes less than $92,200 per year (in 2012 dollars), and your employer doesn’t offer affordable coverage, you may be able to get some help paying for your health insurance premium.
Life can be crazy sometimes and you don’t always know what to expect, particularly with your health. If you find yourself without health insurance, it’s not generally a good idea to cross your fingers, drink more orange juice, and hope you don’t get sick. There are other ways to get covered and regain your peace of mind.