Choosing a healthcare plan that is right for you and your family is one of the most important decision you will make every year. Luckily, the Affordable Care Act (ACA) added numerous consumer protections that apply to all types of plans whether you have a plan through your employer, have a marketplace plan, an individual plan outside of the marketplace, Medicaid, or another health insurance plans.
Health insurance coverage can be private (purchased or covered through your employer) or public (through the state or federal government). But, no matter how you get your health insurance, you will likely have to make some decisions and these decisions should be carefully considered. Also, insurance doesn’t pay for everything. Typically, it pays most of the bill, but you will still have to pay something (cost-sharing). The amount you pay depends on the kind of plan you have. Usually, the more you pay per month to have insurance (premium), the less you’ll have to pay when you go to the doctor or fill a prescription.
- Employer sponsored
- Fully funded
- Self funded
- Purchased individually (i.e., through the marketplace)
- Medicaid/CHIP (Children’s Health Insurance Program)