If you have health insurance, one of the aspects you will likely worry about is how you can afford it each month. While the growth of premiums has slowed since the implementation of the Affordable Care Act, your share of expenses — such as deductibles — are expected to increase throughout the next year.
Here are a few simple ways you can manage your family's health insurance costs:
- Choose a high-deductible plan: If you are starting to feel a pinch in your premiums, you can choose a plan that comes with high deductibles. This will give you the freedom to go to the health care professionals of your choice, but you will have to cover more of the upfront costs until your insurance begins picking up the tab.
- Opt for a smaller provider network: In order to reduce your monthly health insurance costs, you can look for a plan that somewhat restricts the doctors and medical professionals you can see. While this will reduce your costs overall, you will have less freedom when it comes to the doctors you and your family visit.
- Reapply for health care subsidies: The U.S. Department of Health and Human Services (HHS) estimates that 87 percent of people who purchase marketplace plans receive financial assistance to help lower premium costs. You should update your income information each year to ensure you get the maximum allowable benefit from the government.
A licensed agent is best equipped to help you navigate your choices on the federal health care website, www.healthcare.gov.
Whether you choose to go to the home health care route, or visit a local physician, be sure to check back here again for more health insurance help and information, or contact a member of our team to learn more about available options.
