Buying Health Insurance For Dummies Online

Buying health insurance can feel like learning a second language. At its core, it is a contract where you pay a monthly fee (premium) so that an insurance company helps pay for your medical bills. 1. Key Terms to Know

: The amount you must pay out-of-pocket for covered services before your insurance starts to chip in.

: Check Medicaid or Medicare if you meet specific income or age requirements. buying health insurance for dummies

Under the Affordable Care Act (ACA), plans are often categorized by "metal" levels, which tell you how you and the plan share costs:

Insurance companies have "networks" of doctors they’ve negotiated cheaper rates with. Buying health insurance can feel like learning a

: The absolute most you will pay in a year. Once you hit this, the insurance company pays 100% of covered costs. 2. Choosing Your "Metal" Level

: Higher premiums, but lower costs when you get care. Best if you have ongoing medical needs. 3. Networks: HMO vs. PPO Key Terms to Know : The amount you

: An annual period (usually late fall) where anyone can sign up for the next year.