Do you still need to purchase a health plan this year?

How to Save Money When Purchasing a Private Health Plan

Would you like to save money?

I know that I like keeping my money in my own pocket. I do not want to pay for something that I do not have to. I want to make my money work for me. If that’s true of me, I’m guessing that’s true of you.

This year, everyone is now required to obtain health insurance or they will have to face a fine. Today, I would like to share with you how you can save money while purchasing a private health insurance plan.

At Benefits Age, we have been watching the new health care reform roll out for a while now. We’ve worked tirelessly to find health plans that won’t break your bank, but will also be there for you when you need it.

Purchasing a Bronze Plan Often Saves Money

What we discovered may surprise you. For many families, purchasing a Bronze Health Plan is the best way to go for saving money. The main reason is that the bronze plan offers the lowest monthly cost.

Besides the cost of the different plans, there isn’t much difference. You will get to see the same doctors with the bronze plan as you would with the gold or platinum.

Scott Gottlieb, a physician, a Resident Fellow at the American Enterprise Institute in Washington and contributing author for Forbes, describes the difference between the plans well with,

“The bottom line is this. When you’re choosing a particular insurance offering, you typically can’t trade up to a better benefit by buying the gold or platinum variety of that plan. It’s usually the exact same benefit regardless of the metal you choose.”

The only difference is the cost due to the deductibles and the co-pay structure.

The Negative- Higher Deductibles and Co-Pays

The negative part about the bronze plan is that you will have higher deductibles and higher co-pays. Typically with the bronze plan, only 60% of the cost is covered by the insurance.

There is a way to prepare for the high deductible and high co-pays. In our article, How to Make Obama’s Bronze Plan Work For You, we shared that you can make the bronze plan work for you and your family by adding an HSA to the plan.

A health savings account or an HSA is tax free money that is set and aside and only used for medical purposes. If you are interested in purchasing a HSA, make sure to read our article, Are Health Savings Accounts Still Available Under ObamaCare?

We’re here to help

Finding a health insurance plan that is affordable and works for you and your family can feel like an overwhelming task. A Bronze Health Plan may just be the perfect solution to your health insurance needs, but there may be something else out there that works better.

If you are feelings lost or have any questions, please give our office a call. We can assist you in finding the right plan and help weed through the jungle of the Affordable Care Act.

847-397-5300 or toll free 800-317-0181, ext. #306

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