Introduction
Can I really save money by buying
health insurance online? Sure, you can save money on premium costs and
limitations on coverage. But when you look at the price of health insurance
provided by some of these companies, it's not as much of a discount as you
might think.
Have you ever heard of buying health
insurance online? It's not exactly a new concept — but it's still one that's
steadily gaining more and more traction. What is it, what does it do, and can I
really save money by buying health insurance online? This article looks at all
of that and more.
Yes,
you really can save money by shopping online for health insurance.
Yes, you really can save money by
shopping for health insurance online.
You can find the best deal for your
needs on any of the top health insurance websites. And you might even be able
to get a better deal if you shop around a bit — or if you look at different
companies’ websites.
For example, Blue Cross and Blue
Shield in Texas offer plans with a $600 deductible and low monthly premiums
that start at $52 per month. But Health Insurance Marketplace plans offered by
Aetna start at $293 per month for individuals and $346 for families.
If you're looking for a plan that's
more affordable than what Aetna offers — but still provides good coverage —
check out CoveredCA's website. It shows how much each insurer charges for
various types of plans and what percentage of household income they would pay
out-of-pocket before insurance kicks in.
You
can get the coverage you need in a plan that works for your budget.
Buying health insurance online can
save you money. But you need to know what kind of coverage you need and which
provider to choose.
The Affordable Care Act (ACA)
requires everyone to have health insurance or pay a tax penalty. Some people
may qualify for an exemption, but most people will need to get covered in some
way.
You can get the coverage you need in
a plan that works for your budget.
The
key is to use an online exchange like the one that's run by your state, or
HealthCare .gov (for most people) to shop for the best deals.
There are a few ways to save money
on health insurance.
The key is to use an online exchange
like the one that's run by your state, or HealthCare .gov (for most people) to
shop for the best deals.
If you have a group plan through
your employer, check out those savings. Most employers pay for medical expenses
for employees who enroll in high-deductible plans — and if you qualify for this
perk, most employers will also offer a discount on your premium.
You can also look into buying a
"catastrophic" plan that skips deductibles and co-pays and pays 100%
of covered medical expenses if you get sick — but it's more expensive than
standard coverage because it requires higher deductibles and co-pays (which
means higher premiums).
The
most important thing to remember when buying health insurance online
The most important thing to remember
when buying health insurance online is that you're doing business with your own
state. This isn't like buying car insurance, where you're buying a policy from
a company that's not in your state.
The key is to use an online exchange
like the one that's run by your state, or HealthCare .gov (for most people) to
shop for the best deals.
Online exchanges can be confusing
because there are so many different insurers offering different kinds of
policies. But if you look at what works best for you — and use your state's
website — you'll find a plan that fits your needs perfectly.
If you want to compare plans side by
side, check out our guide to shopping for health insurance online.
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