Byron Johnson, commercial real estate investor, entrepreneur, and CEO of an insurance agency, ObamacareEnrollment.org, is an expert on health insurance. He believes that with the complexities of the US healthcare system, most American citizens don’t have explicit knowledge of health insurance. So, how can they choose the right health insurance plan?
Healthcare in the United States is the most expensive in the world. With the COVID pandemic, the hospitalization cost increases day by day, making it vital to get healthcare insurance for yourself and your loved ones. Having health insurance in place will offer financial security and help you tackle uncertain health risks with the help of quality healthcare services.
Undoubtedly, the United States has the most complex healthcare system in the world. Unlike its neighboring countries, the cost of healthcare services in the US is your and your family’s responsibility. In many countries, essential healthcare is provided for free or at a reasonable cost. But, in the US, one appointment with a doctor can cost you a few hundred. If you had to be hospitalized due to disease and required regular healthcare, your bill will cross $10,000. The Affordable Care Act or Obamacare was introduced to help American citizens get relief from the high insurance bills, but it’s still not the final answer.
Buying healthcare insurance will help you cover the medical expenses, given that you have chosen the right health insurance plan that fits your needs without breaking your wallets.
Byron Johnson understands that it’s easier to find the optimal health insurance plan, but it can be overwhelming to choose among different options offered by different insurance companies. Byron Johnson has made it easier for us as in today’s article; we will be learning about different types of insurance plans, which plan would work the best for your needs, and what is covered under each insurance plan. Here’s a complete guide for you to choose the right health insurance plan for you and your family.
What is covered by healthcare insurance?
Typically, your health insurance policy covers the medical expenses incurred due to the diagnosis of a disease. Generally, the surgeries are covered under your health insurance policy, but you need to purchase separate plans for dental and vision insurance. Up until 2019, it was mandatory to purchase health insurance, and if you didn’t have one, you would be charged with a tax penalty. But, in 2019, this mandate was removed by the federal government.
What are the different types of health insurance?
According to Byron Johnson, here are several different types of insurance plans that you can buy:
- Employer-sponsored: You can get health insurance through your employer. If a company has over 50 full-time employees, it is required to provide healthcare coverage. It allows you to split your monthly insurance premium with your employer.
- Individual and family plans: This healthcare insurance coverage is available to everyone and can be bought through state or federal marketplace and health insurance companies.
- Medicare: Medicare allows you to buy healthcare insurance for senior citizens that require regular health care services. You can buy it through an insurance company or the government.
- Medicaid: This insurance coverage is offered by the government for low-income people, pregnant females, older adults, and people with disabilities. Depending on the state, it is often low-cost or even free to enroll.
- Short-term insurance: A short-term insurance plan offers temporary health insurance to cover the gap in your coverage.
- Dental and Vision: Byron Johnsons suggests that the beneficiary should buy separate insurance plans for dental and vision care as most medical insurances do not cover these.
How much does health insurance cost?
The cost for health insurance plans varies depending on the type of insurance plan and the coverage offered. As a result, your insurance rate will fluctuate annually despite sticking with the same insurance provider.
Byron Johnson notes, the average healthcare insurance premium is $479 for individuals and $1,229 for families. The cost of your health insurance is calculated based on zip code, age, gender, and other factors.
When to buy health insurance?
You can buy a health insurance plan at any time, depending on your insurance coverage type. If you are unsure whether you need a healthcare insurance plan or not, you can reach out to Byron Johnson, as he can find the best healthcare insurance plan for your needs.
Where to buy health insurance?
You can contact health care insurance providers online and get a quote for your monthly or annual health care premium. You also have the option to go through your state or the federal marketplace.
How to find an affordable health insurance plan?
If you want to find a healthcare insurance plan that matches your needs and fits in your budget, you need to know how to make your healthcare insurance affordable, explains Byron Johnson. The best way to reduce the cost of your healthcare insurance is by selecting a high deductible.
About Byron Johnson:
Byron Johnson is a founder, entrepreneur, and CEO known for founding several businesses, including an insurance agency, construction and remodeling company, and commercial real estate investment firm. Byron Johnson is an owner of 150+ units of commercial property located in the up-and-coming Seminole Heights area close to downtown Tampa. Additionally, Byron is a recgonzied WSOP Poker Player who won 1st place in the WSOP Poker series in Tampa, FL in 2020.
For more information on Byron Johnson, visit ByronJohnson.com or visit his Cheap Car Insurance Guru YouTube Channel where he gives back by sharing free car insurance tips and valuable insurance info daily.
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