Are you looking for health insurance or trying to decide which health insurance plan you should buy? There are several types of health insurance plans available to Kennesaw residents, but how do you know which plan is right for you?
Here are three of the more common types of health insurance plans you may see:
- Corporate health insurance
- ACA (Affordable Care Act) also known as Obamacare
- Catastrophic PPO plans (sometimes referred to as Hospital Indemnity plans)
Let’s look at the top 12 advantages and disadvantages of each.
#1 Corporate Health Insurance is typically offered by employers to their employees as part of an employee’s benefit package. This insurance is also commonly known as group health insurance.
#2 Group health insurance plans are usually very good plans because they have a reasonable deductible and the employer usually pays 50% of the cost for the employee.
#3 The problem with corporate health insurance plans is that they are such good plans, they are extremely expensive for the rest of the employee’s family.
#4 Obamacare is different from corporate health insurance because instead of your employer providing your insurance, you purchase it individually either through healthcare.gov, or you can avoid having to deal with the government website and just purchase it from an insurance expert, such as The Insurance Nana.
#5 For 2018, there were two types of health insurance available to Kennesaw residents when they purchased their insurance through Obamacare. They were AmBetter and Kaiser, which are both HMOs.
#6 The good part about Obamacare is that these health care plans cover everyone, even if they have a pre-existing condition. One of the disadvantages is that you can only purchase Obamacare plans during Open Enrollment or if you have a qualifying event that would trigger a special enrollment period (SEP). An SEP happens if you have had a certain life event like losing health coverage through your company, moving, getting married, having a baby, or adopting a child.
#7 If you are low income, Obamacare can be a good choice because the government will subsidize your premium payment. If you are not considered low income, however, these types of plans are very expensive.
#8 Unlike Obamacare, Catastrophic PPO plans can be purchased at any time. They are designed for when you have an unplanned medical event, such as a hospitalization, surgery, accident, cancer, heart attack, etc..
#9 Catastrophic PPO plans are usually half the cost of Obamacare and once you purchase a plan, you lock in your monthly premium until you turn 65. You also won’t lose your plan if you decide to change jobs, since your health insurance coverage is not tied to your employment.
#10 The younger you are when you purchase a Catastrophic PPO plan, the better off you’ll be. Since the amount of the premium that is paid never changes, this type of health insurance available to Kennesaw residents can save you a huge amount of money.
#11 The disadvantage to a Catastrophic PPO plan is that it is not available to everyone. You must be in fairly good health and cannot have previously had cancer or a heart attack.
#12 A Catastrophic PPO plan is a good choice for people who want a low premium, great medical coverage, and don’t mind paying out-of-pocket for their routine medical expenses, which are sometimes known as Well Visits.
Do You Have Questions About What Health Care Plans are Available for Kennesaw Residents?
I understand how confusing health insurance can be. If you would like to discuss what plans are available for you and which plan is the best one for you and your family, I’m here to help.
We can sit down and review the coverage you already have and see if there’s a better, more affordable option, or I can help you explore ways to save money with the policy you already have. There’s no charge for this review. Give me a call at (770) 527-5598 and let’s talk.