Are you self-employed? Do you work for a small business that does not offer health insurance coverage? Finding an affordable health insurance policy can be confusing for many people. Navigating Healthcare.gov can be intimidating, confusing, and overwhelming, At Thrive Health Insurance, we have years of experience matching people with the best health insurance coverage for their needs and budget. Here are some common health insurance terms you need to know before you start looking for a plan that will meet your needs.
Health Savings Account
A health savings account is a great way to help you afford medical expenses. HSA accounts are linked to high-deductible health insurance plans. These plans allow you to accumulate money in the account to put toward qualified medical expenses. The standard account will include a debit card that is linked to your HSA account and you can use it for prescriptions, eye exams, surgeries, and more. On average an HSA account can save you up to 30% on medical costs. The money will roll over on the HSA account for the next year, allowing you to accumulate a large amount of money over the years to use for medical needs.
Health Insurance Exchange Plans
The Affordable Care Act has created the Health Benefit Exchange Plan to help individuals and families shop for affordable health insurance. Since a number of people are unable to participate in a group plan, the health insurance exchange can help you find a plan that meets your needs without placing a large financial strain on your wallet! Exchange plans are only available for a limited amount of time throughout the year. We recommend contacting our office in October to enroll in a plan.
Why Do You Need Health Insurance?
If you fail to enroll in a health insurance plan, you will be fined by the IRS. To avoid paying a large fee, enrolling in a health care plan is the best way to do so and to make sure you have a health insurance plan to use if you are injured or become ill. Contact Thrive Health Insurance for more information about how to find affordable health care coverage, 801-739-8258!