Buying Health Insurance Plans: The Basics

If you are planning to buy health insurance plans for yourself and your family, there are several things that you need to take into consideration.

First, you have to learn the basics. You may already be familiar with the Affordable Care Act, also known as “Obamacare” as it was signed into law by former President Barack Obama in 2010. It has been in the limelight ever since its inception, recently once again making news when current President Donald Trump’s administration failed to repeal it in Congress.

The Affordable Care Act

The Patient Protection and Affordable Care Act, often shortened to just the Affordable Care Act, aims to increase the quality and affordability of health insurance in the US. It requires each state to provide a platform, also known as a marketplace, where private insurers can sell health plans to Americans who do not currently have health coverage. Each state has a different marketplace, so if you wish to know more about where to find an insurer, you can check the information online.   

Buying Health Insurance Plans

When you shop for health insurance, it is better to compare plans from different insurers so as to know your options. You can thus choose which coverage is best suited for you and your family.

It is important to know how your health insurance works and what your total cost for health care would come down to if you were to use it. Get the rundown and the details on copayments, deductibles, and other out-of-pocket expenses. 

You should also determine the different kinds or “levels” of health care plans offered to you, because each level pays a different portion of your health care bills.

The Trump Administration’s Stand on Obamacare

President Trump has been very vocal about his stand on Obamacare, making sure that everyone was aware of his disdain for the Act during the presidential campaign period. Indeed, he was so keen on repealing the health law that, only a few hours after his inauguration, he had already signed an executive order urging everyone to work towards its prompt abolishment.

However, it looks like Americans will have to put up with Obamacare a little longer, seeing as the Trump administration’s proposed health bill failed to get enough votes and had to be pulled out of legislation. What effect will this have on the citizens of the United States? For now, the status quo is maintained.

At the end of the day, your health insurance plan should serve as your protection against a potential financial crisis, rather than turning out to be nothing but a burden to you when an emergency comes. When you shop for health insurance plans, discuss, ask questions, and take your time. Make sure that you pick the best plan which fits your needs as well as your budget.