Help Getting Health Insurance

Comment below rating threshold, click here to show it.

MagicMyshu

Senior Member

01-18-2012

Hello, I recently finished school and I don't have any job interviews until a couple of months from now. My parents tell me I don't have health insurance. So I need to get some.

So I was looking for some cool tips. I went online to some aggragate health insurance site and they mentioned monthly prices and deductables. What should I be aiming for, a high deductable or a low one? What exactly is a deductable. It seems to be the amount I have to pay yearly for my own medical stuff before the insurance will actually kick in with its copay of around 70% or more. Is that right?

Since I'm not currently working, it would be nice if it was affordable as well. Do you guys have any secret tips on what health insurance I should get. I'm not a smoker or anything.

thanks


Comment below rating threshold, click here to show it.

Powerstoned

Member

01-18-2012

affordable healthcare you have to buy yourself, looks about like this:

80% coverage,
$1,000 deductible,
<$5,000 maximum payout per year (for you).

(if you try to go too cheap like with 50% coverage & 20k max payout, you honestly might as well not have insurance)

we need a decent, affordable single payer option in this country(actually we need socialised medicine for more than just vets/seniors/congressmen/etc...), it sucks.


Comment below rating threshold, click here to show it.

Elan Tedronai

Senior Member

01-18-2012

Quote:
Originally Posted by MagicMyshu View Post
affordable
Heh.


Comment below rating threshold, click here to show it.

edenechoes

Senior Member

01-18-2012

It's worth seeing if your parents insurance covers you under the Affordable Care Act or if you're eligible for state-managed health insurance. This would probably make your life a lot simpler.


Comment below rating threshold, click here to show it.

R66Y

Senior Member

01-18-2012

Quote:
Originally Posted by MagicMyshu View Post
Hello, I recently finished school and I don't have any job interviews until a couple of months from now. My parents tell me I don't have health insurance. So I need to get some.

So I was looking for some cool tips. I went online to some aggragate health insurance site and they mentioned monthly prices and deductables. What should I be aiming for, a high deductable or a low one? What exactly is a deductable. It seems to be the amount I have to pay yearly for my own medical stuff before the insurance will actually kick in with its copay of around 70% or more. Is that right?

Since I'm not currently working, it would be nice if it was affordable as well. Do you guys have any secret tips on what health insurance I should get. I'm not a smoker or anything.

thanks
Best advice I can give you is to read over any policy you are considering carefully, as how MY policy works may differ from how one you are considering works.

In general, your deductible is going to be the amount you are on the hook for. There will be a yearly amount after which the insurance will cover any additional expenses (incidentally, this is how my current insurance works, I pay for the first $1,500 and insurance picks up the rest).

Co-pay is just like it sounds like, it is a fee fee that you pay while your insurance picks up the rest. This can be a flat fee ($25 / office visit for your doctor) or a percentage (My dental, for example, covers 80% of the costs of regular cleanings).

Again, you'll want to read your policy to see how the two interact if you have both (does co-pay go towards your deductible for all items, only specific items, or not at all) and to see what is covered (for example, my health insurance does not cover dental, hence a separate dental policy). As to how much insurance, that really depends on you. Personally, when I had to buy my own insurance, I tried to get enough to cover "catastrophic" type issues. I figured I could ride out sniffles, but didn't want to bankrupt myself if something unforeseen happened (like my appendix bursting or an accident that left me hospitalized). Honestly, this has been my general method of choosing insurance for anything, determining what I can absorb in losses and then getting insurance to cover anything above and beyond that. All that said, get a level of insurance that you are comfortable with, I'd hate to tell someone they only need a certain level of insurance only to have them get upset if it is not enough for what they need.


Comment below rating threshold, click here to show it.

Direlord

Senior Member

01-18-2012

Do you absolutely need insurance? Going to dr often or for meds?

I actually wouldn't bother really until you get a job unless you need it. On the other hand though going to the hospital without insurance is very expensive.


Comment below rating threshold, click here to show it.

Postal Twinkie

Wrenchman

01-18-2012

Health insurance laws change between states, on top of federal laws that pertain to it. So it can get very confusing when looking at the various plans that are out there. If your parents have health insurance, you are under the age of 27, and are not married or have dependents you should be able to get covered under theirs. Or at least an extension of theirs, this was one of the things Mr. Obama enacted, and caused others rates to go up....

Outside of this you will simply want to find a local health insurance agent and compare the options available to your state and area. The agents do not control the pricing of the health insurance, the insurer does. So really it doesn't matter, aside from if you like the person, which agent you go with if they offer the same options. Agent A will not be able to get you a better rate with Blue Cross Blue Shield than Agent B.

Right now in the state of Oregon for a single employee with no dependents I pay out around $450 a month, going all the way up to $1500 for a family, per employee. Since you are a single person that isn't purchasing through an employer your rates are going to be different than if you were through work.

As for the online aggregation sites, stay away from them. Health insurance is extremely confusing and having a local agent you can go to and speak with when you have questions is invaluable, and trust me, you are going to have a ton of questions.


Comment below rating threshold, click here to show it.

MagicMyshu

Senior Member

01-18-2012

Okay thanks guys I'll get on it! Will look up a local insurance agent Friday.