In these times you do not want to go into 2023 without a health plan. With the annual sign-up period for in the marketplace ending January 15 a decision needs to be made.

Comparing plans and deductibles only touches what you should evaluate before selecting a plan. Policy details can make a significant difference in coverage and costs, but it may take some digging. To compare plans, it is important to understand them which is where we come in.

What is the difference between Medicaid, Medicare, and the Health Insurance Marketplace?

All three plans are funded by the government to help people get medical care. Traditionally, Medicaid is for those with a low income. But because of the impact of COVID-19 on income and wages, you may qualify for Medicaid now even if you never did before.

Medicare plans are for senior citizens and people with disabilities. Some people qualify for both Medicare and Medicaid. These programs were designed to pay all a member’s medical expenses.

What is a Marketplace plan?

When people talk about Obamacare, this is what they are referencing. Created during Barrack Obama’s presidency when the Affordable Care Act (ACA) was enacted by congress, Marketplace plans share the cost of care with members.

But how to choose?

Generally speaking, people who expect to need a lot of care may go with a plan that has a higher premium and lower deductible. And those who do not see the doctor often – people who are younger and in basic good health – might choose a low premium and high deductible.

Boy, it is confusing.

You do not have to do it alone. We hope you have a happy and safe new year but today it pays to be prepared Contact us today.