Individual Health and Critical Illness

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Individual Health & Critical Illness

Individual Health Coverage

How do I buy Health Insurance?

With the Affordable Care Act (sometimes referred to as “Obamacare”), it is much easier to find a health insurance plan based on your income and personal health needs. In most states, you may even qualify for financial subsidies. You can quickly and easily apply for coverage through the new Healthcare Marketplace.
Before you settle on a plan, you will need to get quotes, search for your doctors and hospitals, and discover any out-of-pocket expenses your plan will expect you to pay (such as deductibles, co-insurance, and copay charges). As your agent, I will assist in gathering this information and finding coverage which fits your needs.

What is the Healthcare Marketplace

The Healthcare Marketplace may also be referred to as the Health Insurance Marketplace. It is a website managed by the federal government. It is a pool of healthcare plans and providers cooperating with the federal government in order to provide affordable health insurance. To see if you qualify for a tax subsidy you can enroll on the healthcare website. If you do not qualify for a subsidy, you still have the option of shopping through the marketplace.

A critical illness plan is a policy that pays the insured a lump sum following the diagnosis of an illness covered under the plan. Critical-illness plans often cover diseases like cancer, organ transplant, heart attack, stroke, renal failure, and paralysis, among others. There is no coverage if you’re diagnosed with a disease that isn’t on the specific list for your plan, and the list of covered illnesses varies from one plan to another.

There are many different critical illness plans available, with benefit amounts ranging from $5,000 to $500,000 or more. Premiums are based on the benefit amount and the age of the applicant. In the individual market, pre-existing conditions are not covered, and medical underwriting is used to determine an applicant’s eligibility for coverage. Critical illness plans are not regulated by the ACA and are not suitable to serve as a person’s only medical coverage.

In recent years, critical illness plans have become increasingly popular to lessen the impact of high deductible employer or individual marketplace plans.

Critical Illness