Family Health Insurance

If you or your family members do not have group health insurance, private insurance may be the option for you. You’ll have an insurance policy with a major insurance company to whom you’ll pay your premiums, and they in turn pay your providers for your claims. These health insurance plans are regulated by the Affordable Care Act and the Indiana Department of Insurance. They are good, comprehensive, major medical plans.

A great change that has come about because of the Affordable Care Act is that people cannot be turned down for coverage because of past or current medical conditions. In fact, these conditions cannot be excluded from being covered once your plan starts. If you have been unable to obtain health insurance before because of your medical history, it is time to try again! There are only certain times and circumstances when you can sign up so it is important to get the coverage before you need it!

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Depending on your household income, you may qualify for tax credits to help with the cost of your monthly premium or lower out-of-pocket costs when you need care. The vast majority of individuals and households qualify for one or both of these. If you have become discouraged or given up on getting health insurance because of the cost, it is time for you to shop again. These tax credits can be sent to your insurance company each month on your behalf to lower the amount you pay. These lower out-of-pocket costs are in the form of lower deductibles and co-pays that you are responsible for when you receive medical services.

Most people will purchase their Individual and Family Health Insurance plan through the Health Insurance Marketplace. In order to qualify for the premium-reducing tax credits or the out-of-pocket cost-share reductions, it is necessary to purchase your plan through the Health Insurance Marketplace. Most people find the application process to be difficult and time-consuming. That is why at Michael Suhany Insurance he will provide you with the help you need to master this complicated system.