When it comes to finding the best family health insurance, you want to ensure that you understand everything that comes along with it. You want to cover everyone that is in your household and ensure that you do so the right way. Consider some of these questions and answers prior to searching for family health-insurance plans.
My Child is a Young Adult, Should I Keep Him on my Own Plan?
You can keep children on your own health-insurance plan until they are 26 years of age. However, if they are financially independent, married or are offered health insurance through their employer, than they can’t be on your insurance policy. Speak to your insurance company to find out what it will cover for your young adult child.
When Should I Enroll in Exchange Coverage?
Deadlines have already passed to get health-care coverage by Jan. 1, 2014. However, open enrollment through the exchange continues until March to allow people enough time to find and apply for coverage that fits their needs. The insurance will not go into effect until a few months after applying, however.
What Does the Insurance Have to Cover for the Year?
There are 10 required essential benefits that have to be covered for each person that receives insurance through the marketplace. Some of this coverage included mental health, family planning, emergency care and prescriptions. This is to ensure that the plans cover the basics that are needed for each person.
How Much Will Health-Insurance Premiums Cost in the Exchange?
The costs for the exchange plans compared to private plans, such as co-pays and the premiums, will be comparable and affordable. Depending on the type of plan, insurers can vary the deductibles and premiums for the specific type of person that is purchasing the health plan. Tax credits are available to reduce the cost of the chosen health-insurance coverage.
Can You Get Help With Paying Premiums?
Government subsidies are available to those that qualify, depending on income and the family’s size. This is something that can reduce the health-insurance plan’s out-of-pocket costs. You have to add your income information when applying for coverage, and this can then automatically reduce the payment. You may get a subsidy depending on the income that you have.
We can help answer any additional questions that you have. Please give the Health Insure Marketplace a call. Our licensed agents are ready to help.