Choosing the Right Texas Health Plan for You and Your Family

Whether you’re shopping for health insurance in the Texas Health Insurance Marketplace or in the private market, there are many things to consider. It’s important to pick the right plan for you and your family.

The first step is to evaluate what you need covered and the type of coverage you want. Taking the time to read through each plan’s summary of benefits can help you narrow down your choices.

What Is a Health Insurance Policy?

Health insurance is an important policy that helps you and your family cover the cost of medical care. Without insurance, you may not receive the treatment you need or pay for treatment that is unnecessary.

The type of policy you buy depends on your needs, budget and preferences. Whether you get coverage through an employer or through the individual market, you pay a monthly premium for your policy.

Your premium varies depending on your deductible, co-insurance and maximum out-of-pocket limits. You should choose a deductible that you can afford to pay should you need to use your policy recommends this professional dentist in Harrisburg.

In Texas, private insurers cannot deny you coverage because of a pre-existing condition. They can look back up to 24-months in your health history before you purchase a policy. You may also qualify for an elimination rider that removes a pre-existing condition from your policy. This can save you money on your premium. But you must understand that it also can cause you problems in the event of a claim.

Types of Health Insurance Plans

There are a variety of health insurance plans available for you and your family. Each type of plan has different benefits and coverage requirements.

Individual and small-employer health plans must meet certain federal standards called essential health benefits under the Affordable Care Act (ACA). The ACA requires that all health insurance policies include 10 types of core healthcare services.

Those services include preventive care, like an annual physical, and emergency medical services. Some policies also cover dental and vision care.

A plan may offer other kinds of coverage, like behavioral health and prescription drug benefits. Some of these supplemental services may be included in a plan’s deductible or cost more than the policy’s premium.

Health insurance premiums can vary widely between regions in Texas. For example, the average cheapest Silver plan in Harris County is MyBlue Health Silver 405, offered by Blue Cross and Blue Shield of Texas at $381 per month.

Short-Term Health Insurance

If you’ve recently lost your job and need coverage until you find a new one, or if you’re not eligible for premium tax credits (Obamacare subsidies), short-term health insurance may make sense. If you have large ongoing medical expenses or major preexisting conditions, however, you should avoid short-term plans and instead look for affordable, long-term options.

A recent study found that a majority of the short-term plans available online don’t cover ACA essential benefits such as mental health services, substance use disorder treatment and maternity care. In addition, these plans often have high out-of-pocket costs and deductibles.

Flexible Spending Accounts

Flexibility spending accounts (FSAs) enable you to set aside pre-tax money to pay for out-of-pocket health care expenses. This allows you to save up to 40% of your healthcare costs on your taxes.

You can also use your FSA funds to pay for dependent care expenses. These include day care, preschool and other child-related expenses.

Maxine uses her FSA to cover medical and family doctor visits and a few extra items for her family. In addition, she saves on her deductibles and co-pays by using her FSA.

However, you should always remember that any remaining FSA money that’s not used by the end of the year will be forfeited to your employer. In many cases, you can roll over your FSA funds up to $570 into the next plan year without losing it. If you’re looking for assistance comparing different types of health plans, please visit this https://bumber.info/ blog.