Health Insurance FAQ

Health Insurance FAQAt HealthGuys, we understand that a lot of people have questions and concerns about health insurance. If you want to find the right health insurance policy for yourself and your family, you must take the time to evaluate all of your options carefully. Here are some of the most common questions that people ask about health insurance.

Why Do I Need to Have Health Insurance?

There are several reasons why you need to have health insurance, but the biggest reason why you have to have health insurance is that it can help you save a significant amount of money on your medical expenses. Even though you might be able to pay for some medical expenses on your own, the cost of some medical expenses can be catastrophic. For example, if you are involved in a car accident and require emergency surgery, it could cost tens of thousands of dollars. If you have health insurance, the cost of this procedure might be covered, minimizing potential out-of-pocket expenses.

Do I Get Health Insurance Through My Employer?

It is possible that you might get health insurance through your employer. Companies are not required to provide health insurance for their employees. If you have health insurance offered through your employer, you could take a look at all of the options available to you. You are certainly still free to purchase health insurance on your own, but most of the health insurance plans provided by an employer are heavily subsidized. That means that you might be able to find the right health insurance plan for your family while saving a significant amount of money on your premiums.

How Old Do I Have to Be to Qualify for Medicare?

In general, you need to be 65 years of age or older to qualify for Medicare. There are certain situations where someone may qualify for Medicare at a younger age. It is also possible that the age requirement for Medicare may drop in the future, but in general, you need to be 65 to qualify for Medicare.

Who Qualifies for Medicaid?

Medicaid provides health insurance for people who do not necessarily make enough money to purchase health insurance on their own. There are certain conditions that have to be met before you can access health insurance through Medicaid, and much of it has to do with your financial status. Medicaid is a federal program, but it is administered on a state-by-state basis. That means that different states have different income limits that dictate who qualifies for health insurance.

What Do the Different Metals Mean on the ACA Marketplace?

If you purchase health insurance on the ACA Marketplace, you will see different metallic levels. The metallic level indicates the actuarial value of your insurance company. This refers to the percentage of your medical expenses that the insurance plan should cover. For example, a bronze insurance plan should cover 60% of your medical expenses, while a silver plan should cover 70% of your medical expenses. A gold plan should cover 80% of your medical expenses, while a platinum plan should cover 90% of your medical expenses. Keep in mind that this is an average number. Every plan is different. Some plans provide more coverage for certain issues than others.

Does My Health Insurance Renew Automatically?

In general, your health insurance plan should renew automatically, but it varies from plan to plan. For example, if you purchase short-term health insurance, it may not renew automatically. On the other hand, if you purchase health insurance through your employer, it should renew automatically. If you are interested in changing your health insurance plan, take a look at the details to see if it renews automatically before you move forward.

What Is the Difference Between a Deductible and a Copay?

Your deductible is the amount of money that you have to pay before the rest of your expenses are covered by your health insurance company. For example, you might be required to meet a deductible of approximately $1,500 before the rest of your benefits kick in. You may have different deductibles for different situations. In contrast, a copay is an amount of money that you have to pay every time you have an office visit or get prescription medications.

Find the Right Health Insurance Plan With HealthGuys

There are a lot of questions that people have about health insurance. There is a lot of jargon that people need to cut through, and it can make it hard for you to find the right plan for yourself and your family. If you would like help with this issue, it would be our pleasure to assist you here. We are HealthGuys, and we can help you find the right health insurance to meet your needs. Contact us today to speak to our team!