Insurance Is Affordable
When shopping for health insurance, you might think you can't afford it. The Affordable Care Act has made it easier to get coverage, especially for people who could not afford or get it before. Coverage can be through your employer, with an insurance company or agent, or on the Health Insurance Marketplace. If you qualify, you may be able to get coverage through a government program like Medicaid or Medicare.
Most people need to have health insurance or pay a penalty. But the good news is you may be able to get help paying for it through one or both of these options:
- Premium tax credit — A credit that lowers your monthly premium.
- Cost sharing assistance — A discount that lowers the amount you pay for your deductible, coinsurance and copayments.
Learn more about health care costs
When you shop for health insurance, you'll be able to see if you can get one of these cost savings options.
Tips for More Affordable Health Insurance
Keep your health care costs down and save money with these quick and easy tips:
- Choose the right plan — Choose a plan that covers services you'll use often, even if it means a higher premium because it may save you money in the long run.
- Know your plan — All plans are different. Take the time to know what is and isn't covered.
- Stay in your network — Health plans like HMOs and PPOs use a select group of doctors, hospitals and other health care professionals called provider networks. Choose doctors in your network to avoid paying higher out-of-network costs
- Prescriptions — If you have prescription drug coverage, know the details of your plan. In some cases you can save on health care costs by going to certain pharmacies or by using mail order pharmacy services. Also, check to see if there's a generic version of your medicine.
- Use your member perks — Look for member discounts on things like gym memberships and vision services. Check to see if there are special incentive programs for quitting smoking, losing weight, exercising and more.
- Stay Healthy — Healthier people pay less in health insurance costs. Do your best to eat right, exercise and get regular health screenings. Encourage all family members to live a healthy lifestyle too.