Can I Afford Health Insurance?
Can I afford health insurance?
The better question is, can I bear the risk of NOT being insured?
More and more people are taking an active role in managing their healthcare and the associated costs. For individuals or families who have not had health insurance for a few years (yes, that happens) they may look at the cost of a plan on the Marketplace and suffer sticker shock.
Don’t stop there!
A number of plans and programs are available, both on and off the Marketplace that help you manage your costs while still giving you access to the care you need.
You may have heard of subsidies or premium tax credits on the Marketplace. There’s also a “cost sharing reduction” available to certain individuals. When filling out a Marketplace application, you might qualify for extra savings based on income or by being a member of a federally recognized tribe, for example. These EXTRA savings ONLY apply to a Silver plan on the Marketplace.
If you qualify for any other type of tax credit or subsidy, you can apply those savings to any metal level plan (bronze, silver, gold, platinum) on the Marketplace.
Marketplace plans aren’t everyone’s cup of tea, however. Talk to your agent about other options like a private medical cost sharing plan. These plans can provide exemption from the “penalty” on your taxes, as well as offering some savings on premiums when compared to a full price Marketplace plan.
Don’t wait until you’re sick or injured to get the coverage you need. At Artisan Insurance Group, we have options available year-round, so you don’t have to wait until Open Enrollment. CONTACT US today!
Department Head, Health and Life Insurance
Artisan Insurance Group