- Posted by Canopy KC
- On December 18, 2015
- 0 Comments
Exciting News: As a resident of the United States, you can no longer be denied individual health insurance based on pre-existing conditions, gender, or age AND individual health insurance is affordable for everyone (Affordable Care Act). This exciting news was announced January of 2014, and yet on the eve of 2016, roughly 1/3 of Americans remain without individual health insurance or are inadequately insured, citing the number one reason to be cost. Individual health insurance plans are available that are both reasonable and affordable. So the question is, do you really need individual health insurance? Yes, and here is why.
Worst Case Scenario: You are a relatively healthy individual who watches what you eat, has a full time job, and enjoys being active in your community. The enrollment period just ended and you opted out of your employer’s group plan because the monthly premium was too high. Instead, you opened a savings account dedicated specifically for healthcare related costs. You visit a free community health fair where you decide to get your blood drawn and at this point in time, life is good. You receive your blood results in the mail with a bright red URGENT stamp on the top; your CBC (complete blood count) is abnormal which you later find out is because you have lymphoma. The worst case scenario is now this: you thought you were healthy, you still have a job, and now you have a life changing diagnosis. This is where you ask yourself, “Why didn’t I sign up for health insurance?”
Best Case Scenario: The best case scenario is really no different from the worst case scenario, except that you opted to seek a private insurance company to help you find a reasonable plan that fit your budget and healthcare needs. A large percentage of all of your cancer related treatment will be covered and you can focus on yourself vs. your medical bills.
Did You Know?
• The deadline to enroll for individual health insurance is January 31, regardless of the provider or carrier.
• If you are over the age of 26, you can no longer be on your parent’s health insurance plan.
• The law of the land states that you must have health insurance or you will face a standardized tax penalty.
• During the open enrollment period, November 1, 2015 – January 31, 2016, you can make changes to your existing plan through your employer, private insurance company or the Marketplace.
Where Do You Find Individual Health Insurance? There are many resources available online, at health clinics and even at your public libraries on health insurance. It is imperative to educate yourself, know your budget, and enroll on time. The optimal approach to procuring individual health insurance is to seek the assistance of a professional licensed insurance broker like Canopy. We will help you find the right individual health insurance plan or carrier, see if you qualify for financial assistance or just answer questions to steer you in the right direction. But, more importantly we will help you attain the best case scenario.
So, do you really need individual health insurance? Absolutely.