Get tips on choosing the best health insurance plan

60 Seconds Is All You Need To Save On Health Insurance

We take into account a variety of factors to pair you with your match. We've worked relentlessly to research all the top insurance providers and devise a matchmaking system that finds the company (or companies) most likely to give you the best rate based on your selections. Unlike other quoting tools, that collect your data and spam you with calls, emails and mail, we don't need any form of personal information, such as Name, Phone, Email, or Address, to pair you with your match.

Health insurance

How Much Can You Save?

Health insurance can get quite expensive in the U.S. How much do Americans spend on health insurance annually? According to our in-depth study of insurers and policyholders, the average cost of health insurance in the U.S. is $5,500 a year. That’s quite a bit of money. Because of these high costs, it is beneficial to shop around for better health insurance quotes. People who don’t have brand loyalty and who receive health insurance quotes from other companies are able to save as much as $2,000, according to our independent research. Health insurance quotes can sometimes be misleading, so it’s important to read through the fine print and understand what you’re seeing. You’ll want to pay particular attention to the monthly health insurance premium, the deductible, and the out of pocket maximum. Health insurers are all competing with each other for your business, so it’s to your advantage to compare as many policies as possible. Health insurance is unique in that you must enroll in a new plan during the open enrollment period, which runs in most states from November 1st to December 15th. Be sure to check open enrollment dates for your state.

Why Do You Need Health Insurance?

The U.S. has a unique healthcare system that can be quite expensive, depending on your healthcare needs. Many Americans receive some form of health insurance through their employers, but there are also private options. Having health insurance is important for a number of reasons. It’s impossible to put a price tag on the health of you and your family, but unfortunately, healthcare costs aren’t always affordable.

  • To Minimize Regular Healthcare Costs
    Having health insurance helps keep your typical healthcare costs to a minimum. Things like doctor’s visits, checkups, prescriptions, and any other routine medical procedures can add up. Health insurance helps regulate those costs and prevents them from becoming overwhelming.
  • To Prevent Bankruptcy In Case of Emergency
    In the unfortunate event that you or a loved one falls ill with a serious medical condition, your headache might only be compounded by the astronomical price of treatment. Each year, over 530,000 American families file for bankruptcy due to the cost of medical bills that they simply cannot afford to pay. Having health insurance will help prevent you from suffering the same fate.

Factors That Affect Health Insurance Rates

A common question about health insurance is what key factors contribute to your health insurance rates? In the past, before Obamacare, if you were an individual buying health insurance, the insurance company could ask you health questions and then either increase your rates or, in some cases, decline you for coverage based on your health history and pre-existing conditions. When Obamacare, also known as the Affordable Care Act (ACA), went into effect, that all changed. Insurance companies could no longer medically underwrite and decline coverage or increase rates due to pre-existing conditions. As a result, there are only a few things that can impact your health insurance premiums. They include:

  • Location
    Where you live can have an impact on your health insurance premiums. This is due to variation in the cost of medical care in different areas of your state and across the country. The cost of services in a very rural area may be significantly different than in an urban area where there is more competition for your health care.
  • Age
    As we all know, the older you get, the more likely you are to have health issues. It is for this reason that health insurance companies charge more for those that are older. However, there are limits on how much your age can affect your premiums, but in general, the older you are, the more expensive your health insurance will be.
  • Tobacco Use
    This is the one health-related question that insurance companies are allowed to ask you. The reason is the significant and known harmful impact tobacco use has on your health. If you are a smoker, your premiums can be up to 50% higher than for someone who lives in the same place and is the same age as you.
  • Are you insuring your whole family
    This one is pretty obvious, but the premiums for a single individual are less than for a family with multiple people covered under that policy. In general, the more family members covered under a health insurance policy, the more expensive it will be.
  • Your plan benefits
    This is probably the most significant factor that will determine the cost of your health insurance. If you buy a health insurance plan from the government marketplace or exchange, you will choose either a Bronze, Silver, Gold, or Platinum plan. The Bronze plans are the cheapest, and the Platinum plans are the more expensive. In general, the things that are covered by their plans are not different. The difference is in the cost-sharing on each of the plans. Coat sharing includes things like deductibles, copays, and coinsurance. The Bronze plans will have higher deductibles, copays, and coinsurance, and the Platinum plans will have the lowest deductibles, copays, and coinsurance.

When choosing a health insurance plan, it will be beneficial to talk to an experienced insurance agent who can help you select the right plan for you and your family. They can also determine if you qualify for government subsidies to help reduce your premiums and out-of-pocket costs. Our free quote tool takes many of these factors into consideration when getting you the best rate on your health insurance.

Common Health Insurance Questions

What Happens If I Don’t Have Health Insurance?

A common question people have regarding coverage is "what happens if I don’t have health insurance?" The high premiums and lack of flexibility of many providers lead some individuals to consider if they'd be better off simply forgoing insurance coverage and paying out-of-pocket whenever issues arise. Although the Affordable Care Act (ACA) was designed to help increase healthcare coverage across the country, there are still a significant number of people without any kind of protection. Some people simply aren't eligible to receive subsidies, and others don't even bother signing up. Without health coverage, you're not charged a fee by the government from 2019, but doctors also have the right to refuse treatment. It's only emergency medical providers who must treat anyone even if they're uninsured.

Short Term Health Insurance

The vast majority of health insurance policies last for extended periods of time. Think six months, a year, or beyond. However, there are many situations that might make you wonder if short term health insurance is a possibility. After all, only paying for what you need when you need it seems much more cost-effective and convenient, right? Well, that would be true if short term health insurance options weren't so expensive. You're better off using our free quote tool to find a reputable provider that covers all of your needs and simply canceling when you don't need the coverage anymore. You'll get refunded the difference and successfully be covered only when you need it.

Renewing Health Insurance

The process of renewing your health insurance is an annual occurrence as providers adjust their offerings, prices, and other details regarding their services. It's a bit annoying to have to sign up for a health insurance plan once a year, but it also gives you time to double-check your rates and compare your current plan with different providers. Since there are strict enrollment periods, it's inadvisable to drop an insurance carrier in the middle of a plan. However, when the renewal period rolls around, you're free to re-enroll in the same program or to choose another. If you're ready to renew health insurance but with a new provider, feel free to use our quote tool to compare rates.

Lying About Smoking on Health Insurance

Previous medical conditions and certain behaviors affect the price of your health insurance. One of the most common causes of higher monthly premiums is smoking. In fact, if you're a regular smoker, vaper, or chewer, you could see an increase of nearly 50% on your insurance coverage cost. Seeing this boost might make you consider lying about smoking on health insurance forms. After all, what's the harm in withholding this piece of information? Well, there's actually a lot at stake. If you're found to have lied when applying for health insurance, you could face fraud charges which will most likely end up costing you more than you would've paid on your insurance anyway. Using our free quote tool, you'll be able to find some cost-effective coverage even if you're a smoker.

Facts & Questions

It is usually paid every month for your premiums to keep your coverage active.

Following things you should know before getting a health insurance

  • Your doctor is covered or not in the plan
  • Your prescriptions are covered or not
  • Deductibles and copayments included in the plan
  • This Will work out for the purpose or not

There are four types of health insurance:

  • Health maintenance organizations (HMOs)
  • Exclusive provider organizations (EPOs)
  • Point-of-service (POS) plans.
  • Preferred provider organizations (PPOs)

In this plan, employees are instructed to opt for a PCP (primary care physician), referring you to a specialist. This plan does not cover if you go out to a specialist without proper authorization from PCP. HMOs may or may not include deductibles, but copayments do apply.

This plan works just like HMOs expect you can directly outreach a specialist in case of an emergency. Small copayments are mandatory, and deductible may apply.

This plan combines HMOs and PPOs, but these plans provide a higher level of coverage if employees utilize all the services rendered by PCP. Also, services rendered by PCP are not subject to the policy's deductible.

"PPOS" plan is a suitable choice for employees who want flexibility in payments and referrals to see a physician.
In this plan, employees can use several options regarding doctors and hospitals, as mentioned in the policy. These doctors or hospitals are contracted with the organization to provide services with reasonable discount rates. Annual deductibles and copayments do apply in this plan.

    Here is the quick checklist to choose the best plan
  • Keep in mind the purpose of insurance
  • Visit a marketplace and choose a well-known insurance provider
  • Choose from the best programs (HMO, PPO, EPO, OR POS) that suit your purpose
  • You can exclude the plans that don't cover your specialists.

We highly recommend you read the insurance policy first before opting for insurance. Usually, the insurance policies mentioned what they cover. For example, most companies will cover accident-related expenses, COVID-19, cancer, diabetes, high BP & high BMI, HIV/AIDS critical illnesses, and heart ailments.

If you have just started your career, live on your own, and have good health status, you can go on without any insurance. But if you have any medical condition, it becomes easier to manage and meet the medical expenses.