Whether you’re living alone or have a family, you most probably have a budget plan. Purchasing health insurance comes with obligations that may take several forms, including paying premiums.
Since you’ll be introducing a regular cost to your budget, it is best to research and find affordable health insurance quotes in Louisiana.
You will need to compare different insurance providers. It is a tedious process, but you can save yourself the trouble by requesting personalized quotes from an insurance agent.
But before contacting any insurance professional, make sure you go through this post to familiarize yourself with the cost aspect of health insurance.
Insurers take several factors into account when determining health insurance quotes in Louisiana. The factors include, but not limited to:
· Age: Premiums increase with age, as older people are prone to more health issues. Those over 50 years often incur the highest costs.
· Body Mass Index: People with a high BMI face a high risk of suffering chronic conditions like diabetes and heart disease. So, they will pay more.
· Tobacco usage: Tobacco can affect the cost of your health insurance significantly. If you’re a smoker, your premiums could be 50 percent more than those of non-tobacco users.
· Plan category: Policy providers have different plans that are broken down by metal tiers: Bronze, Silver, Gold, and Platinum. The benefits offered under each cover plan will be different, and they will attract different premiums. For example, Bronze plans offer the lowest level of coverage, while Platinum plans have the highest.
· Individual or family plan: Expect to pay more for a plan that covers several members (spouse and dependents).
On average, you may pay around $240 monthly for every individual under the Bronze plan. People enrolled in Platinum plans pay nearly double the cost of Bronze plans.
The cheapest major medical plan under Bronze and Platinum costs at least $208 and $430. However, expect to be charged more or less depending on your unique needs.
While metal tier plans like Gold and Platinum require higher monthly premiums, they have low out-pocket expenses. Well, we mean the deductibles, copays, and coinsurance expenses.
Louisiana residents can buy individual and family health insurance plans through the Marketplace, which was created as part of the Affordable Care Act (ACA) of 2010. You will find health plans like Exclusive Provider Organization (EPO), Health Maintenance Organization (HMO), Point of Service (POS), and Preferred Provider Organization (PPO).
Unfortunately, Open Enrollment for the year 2020 is over. However, you can sign up for a Marketplace plan if you meet the Special Enrollment Period provisions. For example, you may be eligible if you’re having a baby, adopting a child, getting married or divorced, and losing health coverage.
Your other option is to purchase a plan from a private health insurance company. There are several coverage options to choose from, including short-term plans. If you are running a business, you can also get affordable business insurance coverage.
Navigating hundreds of options and requesting health insurance Louisiana quotes from the insurers to find a budget-friendly plan can be overwhelming and time-consuming. The quickest way to go about this is to consult a licensed and experienced insurance agent like Michael Dunbar.
Michael Dunbar Insurance is a trusted insurance company in New Orleans that works with the insurance products that directly affect people.