The state of California just reached a historic low in the amount of people uninsured. Seeing a shift from 17.2 percent of people being uninsured in 2013 to 7.4 percent in 2016, the state believes it’s because of how well received the Affordable Care Act was. With a population of 39.54 million people, it’s quite a feat for only 2.9 million people to not have insurance. However, this is till 2.9 million men, women and children vulnerable to all sorts of ruinous events.
With more than 50 percent of its population making less than 50,000 dollars a year and the state of California being an already much more expensive place to live, it’s understandable for 2.9 million people to still be uninsured. Actually, 29 percent of people cite the high costs of health insurance and medical care costs as to why they don’t have health insurance. Fortunately, there are some health insurance companies who want to change this and make health insurance cheaper. Although, it’s still vital to know what you are looking at.
The idea of health insurance is rather interesting. It’s essentially a pool of money where subscribers pay a fee to fill up, but when they are in need of this money they can request for it. This need is when they are lacking the finances to pay off medical services or when they see healthcare professionals, in general. In order for you to acquire this medical aid service you first need to pick the “metal” type and service plan you want.
There are four types of “metals” when choosing a network plan; bronze, silver, gold and platinum. These help identify how much you will be paying for your service. While the service plan you choose will also constitute the price, it’s mainly the type of metal identifying how much you pay. The more glamorous the metal you pick, the more you’ll have to pay in monthly premiums, but less out-of-pocket.
For example, the average bronze monthly premium is 388 dollars, while a platinum monthly premium will be 583 dollars. You’ll be paying a significantly less monthly payment, however, you’ll have to pay out-of-pocket more frequently. Thankfully, with the passing of the Affordable Care Act, you’ll only need to pay a maximum amount of 7,350 dollars out-of-pocket. Unless you were a family, then the most you’d have to pay out-of-pocket is 14,700 dollars. This is typically why people who have little medical needs pick a bronze package, they’re planning for the worst-case scenario.
A POS plan is the main type of service where you’ll pay the least, but at a cost. Unlike the other plans—PPOs, EPOs and HMOs—you’ll need to receive a referral from your primary doctor to see a specialist. However, like a PPO, you won’t be fully covered even if you see someone on their network; you’ll only pay a reduced amount. A PPO will let you see services outside of their network at an additional cost, though.
EPOs and HMOs are similar in that they’ll cover you as long as the medical service you see is within their contract. Outside services are okay to see, as long as it’s an emergency. Although, an HMO will usually restrict you to a specific location to live in or work around. Combining the type of service you want and the type of metal will decide how much you’ll end up paying. Companies, like Insurance Line One, want to ensure everyone is covered, which is why they easily catalog all of their services in a simplified version for you to understand. After all, hospitals and doctors already gratuitously charge you during check-out.
The United States of America has recently been identified for billing people for numerous, avoidable, charges. The country has actually been ranked as the most costly country to live in for medical services. This is due to the hidden administrative costs hospitals charge you, in combination with your medical services. These functions include filling out your paperwork, when to call you for your money and scheduling employees. Fortunately, health insurance companies are capable of paying off most of these charges, but it’s been leading these organizations to start charging more on their bills.
One of the ways people think these charges can be reduced is through the advancement of artificial intelligence (AI). It will be able to easily sift through all the data inputted and choose the best course of action for people to do. The main advantages to it are in accounting as it will be able to reduce the workload by volumes. Technology’s constant evolution has led to the many functions we have today, such as the machine learning many websites use to organize their services.
When it comes to picking the health insurance made for you, it can be frustrating. You have to filter out all the redundant information being shared and find articles with pertinent information. Thankfully, with Insurance Line One you will never have to deal with this headache of a process again. Offering open enrollment all year, you will never be denied coverage because you forgot about the deadline.
Services start as low as 150 dollars, meaning anyone will be able to find the package for them and their family. After all, no one should have to figure out how to survive during their recovery process. The association offers a variety of services for you to choose from; health, life, dental, vision, car and many more. For you to not find the right service plan for yourself would be unlikely. California is an already expensive state to live in, don’t make it harder on yourself by subscribing to an overly priced health insurance company.
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