6 Suggestions for Getting Health Insurance for the First time
 |
| 6 suggestions for getting health insurance for the first time |
Before you dig into your birthday cake, be sure to verify your health insurance coverage. If you're presently enrolled in your parent's plan and will turn 26 this year, you'll need to sign up for your own health plan shortly. Waiting too long may be pricey, so get a head start on your search with these helpful pointers.
1. Understand when your coverage will stop
The Affordable Care Act allows you to remain on your parents' health insurance plan until the age of 26. After that, you will have to enlist on your own.
Typically, you may only enroll in a health insurance plan at certain periods of the year. Special enrollment periods are exceptions to these dates. Losing coverage under your parent's plan is considered a qualifying event, which triggers a special enrollment period. Most special enrollment periods last 60 days after a qualifying occurrence.
If your parent has health insurance via their company, the date you'll need your own plan may be determined by the insurance provider. Most likely, your coverage under their plan will expire on the final day of the month in which you turn 26, although it might stop sooner.
If you are handicapped, you may be eligible to remain on your parents' plan. Check with your health insurance provider to be sure.
2. Understand how health insurance works
Before you determine which health plan you'll need, you need to understand how health insurance works. Brush up on crucial phrases like premium, deductible, coinsurance, and copay. Understanding the coverage and exclusions can potentially save you time and money during the enrollment process.
3. Consider your health requirements
Consider how much you'll need to utilize your insurance
If you don't need to see your doctor often, or perhaps once a year, a cheap premium, high-deductible plan may be the best option. Your monthly payment is generally cheaper, but you must spend more for health care before the insurance company begins to pay (your deductible).
If you expect to utilize your insurance benefits frequently, a high-priced, low-deductible plan could be suitable. You'll pay more each month, but you'll reach your deductible quicker, so your insurance company will contribute sooner.
Your doctor could make a change. Before enrolling in benefits, most health insurance plans allow you to check their provider directory to determine which providers are in their network.
4. Evaluate your health insurance alternatives
Before your coverage expires, do some research to select the plan that best suits you. You have three major options:
You may get insurance through your job. If your work provides health insurance, you will most likely be able to enroll in a plan whenever your coverage expires. For further information, please contact your employer's Human Resources Department.
Insurance from the Health Insurance Marketplace. If your job does not provide health insurance or you are unemployed, Covered CaliforniaTM is a smart place to start. Covered California is the state's Marketplace, a free resource for enrolling in health, dental, and vision insurance. Covered California provides financial assistance, and Sharp Health Plan choices are available for as little as $0 per month, depending on eligibility. You may use the Shop and Compare tool to see whether you are eligible for financial assistance.
Medi-Cal provides insurance coverage. Medi-Cal provides free or low-cost health insurance to those with low incomes. Applications are accepted throughout the year.
5. Choose a strategy based on quality
Not every health plan is made equal. Before making a selection, review a plan's ratings to assess the level of care you'll get. For 2022, Sharp Health Plan received 5 out of 5 stars from Covered California, making it the only plan with a 5-star member care experience rating.
6. Do not wait to get covered
Health insurance is required in California. If you do not enroll in a health plan, you may incur significant penalties when filing your state income tax return. Try to start your application as soon as possible to avoid fines.