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Health care industry

Navigating the Individual Health Insurance Marketplace: eHealthInsurance Offers Guidance

Strategic Insights

— 1 min read

As consumers navigate the reformed individual and family health insurance marketplace, they face a complex array of options and regulations. eHealthInsurance, the leading online source of health insurance for individuals, families, and small businesses, has released a series of tips to help consumers find the best plan for their needs and budget.

Key Takeaways:

  • Take advantage of 'mid-stream' health reforms, including the expansion of coverage for preventive care services with no out-of-pocket cost, the elimination of lifetime limits for most benefits, and improved access to coverage for children under age 19 with pre-existing conditions.
  • Comparison shopping can save consumers money by identifying the best plan rates and benefits from multiple carriers.
  • Focusing on plans accepted by consumers' favorite doctors can help them avoid switching physicians.
  • Understanding the real-life cost of a plan, including deductibles, copayments, and coinsurance, can help consumers make informed decisions.
  • Health Savings Accounts (HSAs) may be a good option for consumers who want a lower-deductible plan, as they often have lower monthly premiums and provide special tax treatment.
  • Mixing and matching plans to cover different family members on different plans may save consumers money, but remember to be aware of potential risks and regulations.
  • Life changes, such as marriage, divorce, having a child, or gaining or losing income, may require consumers to reconsider their health insurance options to avoid financial impacts.

Statistics:

  • 2010 health care reforms eliminated lifetime limits for most benefits.
  • 2010 reforms also expanded coverage for preventive care services with no out-of-pocket cost.
  • Children under age 19 with pre-existing conditions can now enroll in individual coverage regardless of their medical history.
  • Comparison shopping can save consumers up to 50% or more on health insurance premiums.
  • The average individual health insurance plan has a deductible of between $1,000 to $2,000 per year.
  • According to eHealthInsurance, HSA-eligible health plans often have lower monthly premiums than lower-deductible plans.

Sources:

  • eHealth, Inc. (NASDAQ: EHTH)
  • eHealthInsurance.com
  • eHealthTechnology.com
  • PlanPrescriber.com
  • Get Smart -- Get Covered consumer blog:

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