Understanding Health Insurance
What is Health Insurance?
Health insurance is a good way to help you manage your health care costs. You pay health care companies premiums – a set amount of money each month - and you get benefits to pay for your eligible health care expenses. This can include regular doctor checkups or injuries to treatment for long-term illnesses.
You can purchase individual health insurance through the Health Insurance MarketplaceA resource where individuals and families can: learn about their health coverage options; compare health insurance plans based on costs, benefits, and other important features; choose a plan; and enroll in coverage. on your own. Even though it’s called individual health insurance, you can also find plans to cover your family. Because health care can be expensive, it’s a smart idea to have health insurance so you’re prepared for when you or your family have medical needs.
Why should I have individual health insurance?
- Prepare for the unexpected. You never know when you’ll need medical help.
- Staying healthy. Many preventive care services – like checkups - are covered at 100%.
- It’s the law. Under the Affordable Care Act, you may pay a penalty if you don’t have qualified health care coverage.
