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Single Mom's Guide to Health Insurance

Open Enrollment Begins November 1–Five Factors to Consider.

Health Insurance

 

Did you know there are five factors that can affect how much your health plan’s monthly premium is under the health care law?

However, individual states can limit how much these factors come into play.

These five factors are:

  • Age: Premiums can be up to 3 times higher for older people than for younger people.
  • Location: Where you live has a big effect on your premiums. Differences in competition, state and local rules and cost of living are the reasons why.
  • Tobacco use: Insurers can charge tobacco users up to 50% more than those who don’t use tobacco.
  • Individual vs. family enrollment: Insurers can charge more for a plan that also covers a spouse and/or dependents.
  • Plan category: Bronze, Silver, Gold, Platinum, and Catastrophic. The categories are based on how you and the plan share costs. Bronze plans usually have lower monthly premiums and higher out-of-pocket costs when you get care. Platinum plans usually have the highest premiums and lowest out-of-pocket costs.

In addition, insurance companies may offer more benefits, which could also affect costs. Furthermore, insurance companies can not charge women and men different prices for the same plan, nor can they take your current medical history or health into account when otherwise known as pre-existing conditions.

 

Take a look at your providers

Tip #2 from “The Single Mom’s Guide to Health Insurance” – Take a look at your providers

Take a look at your providers
Do you always go to the same pediatrician? Is your nearest hospital your favorite? Make a list of all the providers you have seen over the last year, and add in any others that you plan to see in the next year. Either you, or your agent, will want to run this list through any potential insurance carriers to make sure you can still access your favorite providers.

To get the entire guide for free, click here.

 

If you need any help getting health insurance or if you have any questions, please reach out to us at 801-901-7800.

You may qualify for health insurance assistance

Below is the table that the federal government uses to determine health insurance assistance.

If your income falls between 135% and 400% of the federal poverty level for your family size you may qualify for assistance with your premiums.

Small business owners are voicing their opinions on the President’s ideas to repeal and replace the Affordable Care Act.

When 1,000 small business owners were recently survived, 53.1 percent are against the health care bill passed by the House, while only 13 percent support it.

An impartial position of 34 percent was reported while a large majority of 60.4 percent do not think the bill would have a negative effect on their small business. Almost all agreed at 92.5 percent that insurance companies should provide coverage to people with pre-existing conditions.

At 72 percent, most small business owners agreed that expanding access to health care is most important over reducing taxes and decreasing the federal debt.

 

Sources: BenefitsPro.com, Fit Small Business