It is no secret that healthcare is expensive in the US, especially when compared to other industrialized countries. The cost can put a major strain on household budgets. Some even go bankrupt because of all their medical bills. Avoid this fate by getting health insurance coverage. In the past, insurance premiums were beyond what most people could afford. Now they are within reach thanks to federal legislation. Affordable health insurance Colorado providers may cost a few hundred dollars a month. Some could even be less than that with the support of the government.
Qualifications
The Affordable Care Act has made it possible for most citizens to get insured without spending a fortune. Those who qualify for a plan must sign up for one during Open Enrollment. It is also possible for people to get a plan outside of this period as long as they qualify for special enrollment. Those who experienced major life changes in their household may apply. For example, they might have gotten married, divorced, pregnant, laid off, and so on. With ACA, pre-existing medical conditions cannot become a basis for denial of coverage.
Age and Address
Two of the factors which have a major influence on the monthly premiums are age and address. You will have an easier time paying if you got your insurance while you’re young. Those who are already in an advanced age will generally be charged higher. Your address is also crucial since some plans are only available in limited counties. When searching for insurance online, you will often be asked about your zip code because of this.
Deductibles
The deductible will also have a big impact on the premium. If you can agree to a large deductible, then you will be able to enjoy lower rates. The downside is that you will be on your own for most minor medical issues. Some deductibles can reach upwards of $7,000. The lowest is around $1,500 for Colorado. Every situation is different so think carefully whether it is worth paying more for a low deductible or whether you are willing to sacrifice support for the little things as long as you can get assistance for major emergencies.
Note that those with a household income under 138% of the poverty level may qualify for the Medicaid program which is funded by the federal government. For those above this threshold, there are still plenty of viable options so shop around a Affordable health insurance Colorado.
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