Best Health Insurance In The United States: A Comprehensive Guide For 2023
Different Types of Health Insurance; Best Health Insurance in the USA Employer-Sponsored: This is health insurance coverage provided by your employer. It allows you to split the cost of monthly premiums with your employer and includes cost-sharing payments.
Individual and Family Plans
Also known as Affordable Care Act (ACA) plans or Obamacare plans, these are available to everyone and can be purchased through the state or federal marketplace, health insurance companies, or brokers.
Medicare :- A federal health insurance program for senior citizens age 65 and older. Beneficiaries can choose coverage through private insurers through Medicare Advantage plans (Part C) or through the government.
A federal health insurance program for senior citizens age 65 and older. Beneficiaries can choose coverage through private insurers through Medicare Advantage plans (Part C) or through the government.
- Short-term: Temporary health insurance plans that bridge the coverage gap range from a few months to three years in some states.
- Dental: : Routine dental care like cleaning or root canal requires a separate dental insurance plan.
- Vision: Routine vision care such as eye exams, glasses and contacts require separate vision plans.
Key Health Insurance Terms Explained
- Premium: The amount paid each month to a health insurance company to maintain coverage.
- Deductible: The amount paid out of pocket before health insurance begins to cover health services.
- Copay: A fixed out-of-pocket payment for specific health services or drugs.
- Coinsurance: The percentage of the cost of health services or drugs paid out of pocket after meeting the deductible.
- Out-of-Pocket Maximum: Limit on the total amount paid out of pocket for healthcare in a year. Once reached, the insurer covers all covered care for the remainder of the year.
Health insurance metal level
ACA plans are classified into metal tiers based on coverage
- Bronze: The plan pays 60% of covered care, and the individual pays 40%, with higher out-of-pocket costs and lower premiums.
- Silver: The plan pays 70% of covered care, and the individual pays 30% with moderate out-of-pocket costs and premiums.
- Gold: The plan pays 80% of covered care, and the individual pays 20%, with lower out-of-pocket costs and higher premiums.
- Platinum: The plan pays 90% of covered care, and the individual pays 10% with the lowest out-of-pocket costs and highest premiums.
Cost of Health insurance
Health insurance costs vary based on plan type and coverage level. Premiums can change from year to year. According to a study by eHealth, the average premium in 2023 is $484 for individuals and $1,230 for families. Prices depend on factors such as zip code, age, gender and more.