When You Should Seek Private Health Insurance Quotes? – Overview
Certain inevitable conditions may force you to apply for a private health insurance quote instead of a traditional health plan.
Traditional, also referred to as fee-for-service health insurance quotes comprise the indemnity plans. Although they come with autonomy, many employers and individuals go for managed care plans.
Apart from traditional plans (sometimes) having higher costs, the inability to utilize some of the free health insurance deals may mean you seek managed healthcare insurance quotes.
Examples of managed plans are HMOs, POS, PPO, EPO, Catastrophic, and HSA. When is it necessary to opt for them? Read on to find out.
Where ACA Is not Suitable
The affordable care act, also known as Obamacare, is a health policy that seeks to make it possible for all Americans to access health insurance plans.
Unlike fee-for-service health insurance quotes, it all allows those with chronic diseases to get covered.
Besides, the plan gives room for insuring those with high demand for prescription drugs. Although the primary aim of the scheme is to make health insurance affordable, (to some extent) the opposite is true.
Widening the base for insurable risks has made American insurance firms raise the premiums.
For example, a family of 4 pays an average of 1520 USD on premiums. The premiums are higher for those families or individuals who are above 27 years.
The high premiums may leave you desperate and helpless. Worse yet, failing to possess a cover may land you into trouble with the US authorities.
Instead of paying unnecessary fines, you may opt for private health insurance quotes.
When You Are a Temporary Employee
The national government demands that any employer with more than 50 employees pay health insurance. This is according to the affordable care act on employers.
The companies strive to evade the fines. Besides, adhering to the law may enable their employees to enjoy certain interest benefits.
For example, the IRS allows them to make pre-tax contributions to HSA (high savings account) insurance plan.
If they don’t use certain funds in their savings account, the IRS rolls it over for the following financial year. Then, the funds attract interest. Better yet, the government doesn’t tax the accrued interest.
However, the higher premiums may make a company prefer not to enter such plans. Hence, they lower the number of permanent employees by reducing their working hours.
If you find yourself without a permanent job in a company, it may be the best time to seek affordable private health insurance services.
When You Can’t Utilize Services of Charity Care
The US state laws require hospitals to avail citizens of certain medical services freely if the citizens can’t afford the services.
The cover may entail emergency room visits or certain treatments and in-patient stays.
You need Charity Care if you can’t afford most health insurance quotes in the marketplace. Just like any free service, a myriad of citizens seeks the services at the charity care centers.
This calls for thorough screening before accessing the in-demand services. For example, your household income must be 100% less than that of the Federal Poverty Level. The other drawback is that of inadequate information.
How do you know if a hospital offers charity care? It’s simple. You can keep checking the institutions’ noticeboards in the emergency rooms. Alternatively, you can approach the accountant for clarification.
However, your eye may not easily spot the noticeboards. Also, during an emergency, who has the energy and keenness to spot charity care offered when signing healthcare forms?
That’s why you can opt for predictable private insurance quotes.
You Have Divorced
Divorce comes with uncertainties. For example, you may be obliged to pay higher premiums if you were formerly on a family health insurance plan.
Additionally, your ex-partner may have been able to pay higher premiums in pursuit of world-class healthcare.
Even if they may help in paying for the cost of covering your children (after the divorce), the remaining load may be too heavy on you. Then, is the best time to seek more economical private health insurance quotes.
Inability to utilize ACA, Charity care, or being divorced or temporarily employed may force you to seek affordable private health insurance quotes.