Health Insurance Open Enrollment | Top Things to Know

2019 Health Insurance 101: Top things to
know. Hey, it’s Keagan with where we take the sting out of insurance
searching, and if you like the sound of that, go ahead and give us a thumbs up
right down there. You’ve been searching for information about health insurance
in 2019 and health insurance can be really complicated and hard to
understand. So to help make things a little simpler, I’m gonna give you the
top 10 things to know about health insurance in 2019. 1: Everyone needs
health insurance. Under Obamacare, (or some people call it the Affordable Care Act)
all American citizens must have qualifying health care. If you don’t have
health insurance meeting the government standards, you have to pay fees when you
file your federal income tax returns. 2: For your plan to qualify under Obamacare,
it has to include ten essential benefits. These include: 1) Ambulatory patient
services. 2) Emergency services. 3) Hospitalization for surgery or overnight
stays. 4) Pregnancy, maternity, and newborn care. 5) Mental health and
substance use disorder services. 6) Prescription drugs. 7) Rehabilitative
and habilitative services and devices. 8) Lab services. 9) Preventive and
wellness services. 10) Pediatric services. If your plan offers services with all
these categories, it qualifies under the Affordable Care Act. The type of health
insurance you have will depend on your individual situation. You might have
health insurance provided by your employer, or if you are a senior citizen
over 65 you are eligible for Medicare under the government. It doesn’t
necessarily matter what type you have, as long as it meets the government
standards and provides you with the coverage you need. Check out a video
we did about the different types of health insurance and how to know which
one is best for you. Health insurance splits the cost of medical services
between the consumer and the insurer. This split is categorized into tiers:
Bronze, silver, gold, and platinum. Bronze is the most balanced here and the
platinum is the widest split. Because the consumer pays more out-of-pocket with a
bronze plan, the premiums are normally the lowest, while the opposite is true
for the platinum plans. Health insurance costs will
differ depending on the type of plan, as well as several other factors. Most
people are obviously searching for the best and the most affordable deal, but a
common mistake is to go for a plan with the lowest premium. Just because the
premium is cheap, doesn’t mean that it’s the cheapest plan. With lower premiums
you’ll typically end up paying more in out-of-pocket expenses, than with plans
that have higher premiums. There are five factors that go into determining your
premium. They are: Your age, your location, whether or not you use tobacco, whether or
not you are an individual or family, and your plan category. Health insurance
providers are allowed to use any factors outside of these five when determining
the cost of your premium. Typical health insurance doesn’t cover everything you
might want. For instance, dental insurance will be under a separate plan all on its
own. It’s relatively inexpensive, even for the most robust plans. Vision insurance
is the same. It’s separate from your broader health insurance plan. However,
major eye surgeries are normally covered under your broad plan, but check it out
with an insurance agent. When shopping for health insurance, there’s only one
period of the year that it’s allowed. This period is called the Open
Enrollment Period, and you will not be able to purchase a new health insurance
plan outside of that period. Special Enrollment Periods start with a
qualifying event. This is exactly as it sounds: An event that qualifies you for
special enrollment. These events are things like turning 26, getting married,
having a baby, or moving to a new zip code. Some states also have an additional
qualifying events. To find the best health insurance plan for you, take into
account how healthy you are. How often do you utilize medical services, and what your
financial capabilities are. If you are healthy and rarely visit the doctor, it
will probably be more affordable to have a higher deductible, which will come with a
lower premium. On the other hand, if you have chronic illness or are in poor
health, you’ll likely want to plan with higher premiums but lower deductibles
and out-of-pocket costs. Again this is all up to you. But don’t just take our
word for it. It’s important to speak with a health
insurance provider and an insurance agent. If you have any questions about
your insurance plan or intend on searching
for anything new in regards to health insurance, check out for
trusted and licensed health insurance experts, and subscribe to our channel for
other health insurance tips and information. And last thing: Stay healthy
and eat those veggies. Thanks for watching our video! If you found this
video helpful, don’t forget to give us a thumbs up and subscribe to our channel.

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