Health Insurance And Insurance Brokers

For anyone without health insurance, it's important to know what kind of options are available to them. There are two types of health insurance: private and government. With private health insurance, you will typically have a monthly premium and a deductible which you pay every month before your coverage takes effect. If you don't use any medical procedures this year, then there will be no out of pocket costs for the year but if you do incur some bills then once your deductible is paid, the insurer pays for all or some of the bills based on your plan's coverage limits.

Health Insurance And Insurance Brokers

For anyone without health insurance, it's important to know what kind of options are available to them. There are two types of health insurance: private and government. With private health insurance, you will typically have a monthly premium and a deductible which you pay every month before your coverage takes effect. If you don't use any medical procedures this year, then there will be no out of pocket costs for the year but if you do incur some bills then once your deductible is paid, the insurer pays for all or some of the bills based on your plan's coverage limits.

For anyone without health insurance, it's important to know what kind of options are available to them. There are two types of health insurance: private and government. With private health insurance, you will typically have a monthly premium and a deductible which you pay every month before your coverage takes effect. If you don't use any medical procedures this year, then there will be no out of pocket costs for the year but if you do incur some bills then once your deductible is paid, the insurer pays for all or some of the bills based on your plan's coverage limits.

Private health insurance options include:

Company owned insurance companies: For example, BCBS of Tennessee. Not all companies are company owned. The Blue Cross Blue Shield Association is a network of independent health insurance companies created by state legislatures in 1946 to standardize medical coverage across states.

The Independent Agents Association of America represents independent agents who sell health insurance.

The American Association of Health Plans represent multiple types of insurance organizations that offer health insurance.

Smaller companies and non-profits: Some smaller companies and non-profits offer health insurance.

Government: The government provides some health care coverage and can also provide some subsidies to help consumers pay for private health insurance. Governments include the federal government, a state government, or a local (city) government. The states have different options available to their citizens such as the Federal Employees Health Benefits Program, Medicare, Medicaid, Children's Health Insurance Program (CHIP), Affordable Care Act Exchanges, or other programs specific to that state. For more information on the Affordable Care Act you can read about the ACA here.

There are some government benefits available to people no matter what their income is, such as Medicare and TANF. For more information about these programs, please visit our page for each benefit.

Qualifying for health insurance through Medicaid is fairly straightforward and requires meeting only basic guidelines. There are several qualifications that must be met before an individual can apply for medicaid:

Income: The maximum monthly income is $2,216 for a family of three (based on 2015 standards). That includes all income earned by every member in the household.

The maximum monthly income is $2,216 for a family of three (based on 2015 standards). That includes all income earned by every member in the household. Citizenship: An individual must be a US citizen or permanent resident living in the state they are applying in.

An individual must be a US citizen or permanent resident living in the state they are applying in. State residency: An individual must have been living in their state for at least one month before applying for medicaid.

An individual must have been living in their state for at least one month before applying for medicaid. Work requirements: Generally, an individual who is able to work must be working at least 20 hours per week in order to qualify for Medicaid. Single parents may meet the work requirement by fulfilling a work activity requirement while pregnant or caring for a child under six years old.

There are additional qualifications based on the type of Medicaid program an individual wants to enroll in. A person can apply online at Healthcare.gov and find out which program would give them the best options for their family.

If a person meets these basic qualifications, they can apply online at Healthcare.gov or through a state's health care marketplace (if their state has one). From there, they can find out if they qualify for Medicaid or not.

To enroll in CHIP, a person must meet the following qualifications:

Income: Monthly income must be 250% of the federal poverty level (FPL). For a family of one child, that equates to an annual salary of $35,000. For a family of two children, $40,000 is acceptable income. For a family of three children, that increases to $46,250. In 2017 FPL rates were published in early October. In 2016 FPL rates were published in mid-September.

Monthly income must be 250% of the federal poverty level (FPL). For a family of one child, that equates to an annual salary of $35,000. For a family of two children, $40,000 is acceptable income. For a family of three children, that increases to $46,250. In 2017 FPL rates were published in early October. In 2016 FPL rates were published in mid-September. Citizenship: An individual must be a US citizen or permanent resident living in the state they are applying for CHIP coverage in.

An individual must be a US citizen or permanent resident living in the state they are applying for CHIP coverage in. State residency: An individual must have been living in their state for at least one month before applying for CHIP.

An individual must have been living in their state for at least one month before applying for CHIP. Work requirements: Generally, an individual who is able to work must be working at least 20 hours per week in order to qualify for CHIP. Single parents may meet the work requirement by fulfilling a work activity requirement while pregnant or caring for a child under six years old.

There are additional qualifications based on the type of CHIP program an individual want to enroll in. A person can apply online at Healthcare.gov and find out which program would give them the best options for their family.

If a person meets these basic qualifications, they can apply online at Healthcare.gov or through a state's health care marketplace (if their state has one). From there, they can find out if they qualify for CHIP or not.

To enroll in Medicare, a person must meet the following qualifications:

Income: Monthly income must be less than $1,133 for individuals with an insurance policy that pays all the costs of Medicare premiums and prescription drugs. If you have to pay part of your Medicare premium or prescription drug costs, income must be less than $85.50 per month. In September 2018 FPL rates were published by the Department of Health & Human Services as were 2017 rates in September 2017.

Conclusion

There are many government benefits in the United States that allow for financial assistance of one kind or another. Whether it's Medicare, Medicaid, CHIP, TANF or other programs, most people qualify for some form of government assistance in at least some way. There are several different types of benefits that may be available to an individual based on their situation. If you have additional questions about these services or other government aid, please visit our page for each service and contact us with any further questions.

For more information on making the most of your money visit our Money section.

For more information on how to budget visit our Budgeting section.