The state of California is home to the happiest place on Earth and is the entertainment capital in the world. The city of Los Angeles draws in thousands of tourists each year. However, with all the joy the state brings in, it leads thousand—even millions—to start to call the state home. This starts to lead to higher prices in cost of living. It starts to cause rent and gas to rise, and food starts becoming more expensive. This starts causing people to decide what’s truly important to them to survive and their life.
One of the biggest services people drop because of cost is health insurance. While the state of California has seen a historic low for uninsured people. 7.4 percent of a population of 39.54 million people means 2.9 million men, women and children are going without insurance. 29 percent of people without insurance cite the fact it is too expensive for them to afford. Out of the 2.9 million people without insurance, 17 percent will actively avoid seeing medical services because of how expensive the bills come out to be.
Understandably, no one has 2,200 dollars for a one-night stay in the hospital. Those with health insurance are able to have this covered easily, but those without insurance need to pay for this out-of-pocket. This causes people to start taking up multiple jobs were they to actually get medical care. No one should have to live paycheck to paycheck because of something they couldn’t control. Understanding the intricacies of how private health insurance works will help you justify acquiring it, though.
When looking for health insurance there are two main attributes deciding the price you pay for the package; the type of “metal” you choose from and the plan of service you want. The “metal” isn’t an actual item you receive, but it decides how you are going to be paying and, usually, how much. There are four types of metals to pick from; bronze, silver, gold and platinum.
The more glamorous the metal you pick the more you’ll have to pay in monthly premiums. Conversely, you’ll also have to pay the least amount out-of-pocket. For example, a bronze plan is the dullest of metals, so you’ll have to pay the least in monthly premiums, but more in your annual deductible. An average monthly premium for a bronze plan is 388 dollars, while a platinum plan is estimated to be around 583 dollars.
Bronze plans are typically for people who need little medical care and are only planning for the worst-case scenario. This is why they will pay the most out-of-pocket, but it’s because they will be spending little time there in the first place. Platinum plans are for those who see the doctor frequently, which makes it more interesting to those with stronger medical needs. Thankfully, the passing of the Affordable Care Act helped make these plans more affordable.
Before, health insurance companies would only have to pay for a certain amount of the costs. Leaving you to pay off the rest of thousands of dollars in bills, which left many bankrupt. However, the bill placed a cap on how much you will pay out-of-pocket, which is 7,350 dollars for individuals and 14,700 dollars for families. Meaning, those with bronze plans are more likely to pay the full 7,350 dollars. Fortunately, the type of service can lessen the amount you pay, or increase it.
Out of the services to choose from there are EPOs, HMOs, PPOs and a POS plan. An EPO and HMO are similar in you’ll receive coverage were you to see someone in their network. You’ll also be able to see outside services were it an emergency, however, an HMO usually restricts you to certain locations to live or work in. A POS won’t completely cover you, but you’ll pay a reduced price for using a service in their contract. However, you’ll need a referral from your primary physician to see a specialist.
Unlike a POS, a PPO will allow you to see outside services and specialists without a referral. Although, you’ll still need to pay a reduced cost to see someone in their network. Once you’ve sorted through the type of service you want and combine it with the type of metal you want you’ll find the service you want. Unfortunately, even if you do establish the package you want there are health insurance companies who charge way too much. Nonetheless, there are those who do want to help people and prevent them from financial ruin.
In a society where we’re inundated with articles telling us the same things and companies forcing their obsolete services onto you, it can be difficult to find the exact item you want; it requires patience and being cautious most of the time. Insurance Line One wants to change the way we acquire health insurance and what services are covered.
Starting their services as low as 150 dollars, you’ll be able to find the right package for you. With open enrollment all year it allows anyone to join, preventing people from being denied because they missed the deadline. After all, health insurance is a necessity in the modern world; staying one night stay in a hospital can require you to fess up 2,200 dollars. This is ignoring the fact a broken arm will cost you 2,500 dollars without the use of surgery. Were you to need surgery you’d have to drop 13,500 dollars to pay off these bills.
Health insurance companies will be able to pay off most of these costs, allowing you to recover in peace. You didn’t ask to have your arm broken nor did you want it to be broken. You shouldn’t be put in financial hardship because of something you had no control over. Looking through their vast catalog you’ll be able to find coverage at an affordable price.
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