Understand the Basics

In general, there are two main types of individual health insurance plans that apply to most individuals before Medicare.

Marketplace Plans

A plan from the Health Insurance Marketplace, commonly referred to as Affordable Care Act (ACA) plans, provides private health coverage for individuals or families without employer-sponsored coverage. A Marketplace plan may be the right option if you need coverage for more than one year. These plans provide preventive services at no cost and never ask about previous or current medical conditions.

The monthly cost is individualized and is based on the estimated income of all household members. Most households qualify for tax credits, which is a subsidy based on household size and income. This tax credit could reduce your monthly insurance premium for a Marketplace plan. There is an income number called Modified Adjusted Gross Income (MAGI) that determines the amount of premium subsidy assistance from the government. Learn more about tax credits here.

Short-Term Plans

Short-term plans may be the right option for you if you need coverage for less than a year. These plans often help individuals bridge the gap until their Medicare eligibility. Short-term plans are intended to be used for unexpected and unanticipated medical needs, not for planned care. They do not cover preventive care services. These plans are medically underwritten, meaning you must qualify to be accepted, and do not cover pre-existing conditions.

Additional Coverage Available

We can help you enhance your health plan by adding the following:

• Dental benefits
• Vision coverage
• Hospital Indemnity coverage, which helps with hospital copays. Benefits are paid directly to you to reduce medical or personal costs of a hospital stay.