2020 Pennsylvania Health Insurance Open Enrollment
2020 is approaching fast. It is time to renew your Pennsylvania health insurance policy before it is too late. The Pennsylvania open enrollment period begins on November 1st, 2019 and continues through December 15.
This guide will help you comprehend the coverage options and different plans to get the right Pennsylvania medical insurance for you or your family. There are hundreds of different medical plans, so choosing the best insurance can be a bit confusing. When comparing available policies with Health Care Market Exchange, you can see all plans from Blue Cross Blue Shield, United, and all other major medical providers. Compare coverage and prices side by side with the help of a licensed and friendly Pennnyslvania healthcare representative.
What’s New for Pennsylvania Health Insurance This Year?
Before starting to evaluate different available plans regarding 2020 healthcare open enrollment, you will need to look at the health reform and tax reform changes that President Trump has put into action this year.
The Affordable Care Act (ACA) is still intact but some things have changed. While the Obama Care era of the act has ascended, the new administration has put their own spin on the government subsidized options. Essential Health Benefits remain the same for State and Federal insurance. This implies that you can expect a basic level of coverage and care from the economic health plans.
President Trump’s biggest change to the ACA was introduced indirectly, via tax reform. In previous years, people would be penalized by the IRS if they didn’t have an active health policy. In 2017 and 2018, the penalty for not having health insurance was generally more than simply purchasing an insurance policy. Although it is highly recommended for every Pennsylvania citizen to carry some sort of health insurance policy, it is no longer required. You will not be penalized this year from the IRS for not having insurance. However, it can save you and your family from an immense financial burden if anything were to happen. Peace of mind knowing you are covered instead of paying out of pocket is generally worth it and saves you a lot in the end.
The Dangers of Not Having Pennsylvania Health Insurance
If you don’t sign up for a plan by the end of Open Enrollment, this could be detrimental if you or a family member get sick or injured. Wellness care is notoriously costly in America. For many families, shouldering the price tag on healthcare expenses without insurance may be financially devastating. Wellness costs are a top cause of bankruptcy within the United States, this is why the previous administration required it as priority expense which incurred fees and penalties for many who didn’t get it. For example, the average cost each day at a hospital is $3,949 and each hospital stay costs an average of $15,734. Approximentally 60% of all bankruptcies are related to medical expenses.
You can essentially save money by not paying monthly for an insurance policy. Nevertheless, once you need to go to a doctor, or when you have a healthcare emergency, the financial savings would be immediately negated.
It conclusion, even though you will no longer be penalized by taxes, it almost always makes financial sense for Pennsylvania residents to carry a health policy. Even if a person is healthy, and does not often get sick, it will save you from a potential financial disaster that you may never recover from.
Choosing The Right Pennsylvania Healthcare Policy
With Health Care Market Exchange, you can compare all 2020 Pennsylvania health insurance plans side by side. Naturally, the “best” insurance policy to suit your needs will be reliant on your needs. Call us today to speak with one of over 250 licensed healthcare representatives to compare the best coverage and prices. Easily compare family health insurance plans or individual plans within 5 minutes.
Pennsylvania Medical Insurance has different tiers based on coverage needs.
- Bronze Policies are generally the economic option and most affordable. Signing up for a bronze plan yields low monthly premiums, but the deductibles may be higher. A bronze insurance policy typically covers 60% of associated medical costs.
- Silver Policies require higher monthly premiums than Bronze Plans; however, the out of pocket expenses are typically lower when visiting a medical professional. Silver Policies can cover upwards of 70% of expenses.
- Gold Policies are the next tier up and yield higher monthly premiums but less out of pocket expenses. These policies typically cover 80 percent of cost and have several other benefits for specialized doctor visits and prescriptions.
- Platinum Policies are not available from every provider and have the most expensive monthly premium. This is the highest tier and cost coverage can be up to 90% in the best-case scenario. You may pay the greatest premiums for this kind of plan but you can see any doctor and out of pocket expenses are at a minimum.
Choosing the right plan depends on how much you plan on visiting the doctor or taking prescription medications. For a current medical condition or regular professional appointments, a bronze or silver plan could become extremely costly. No one can guess if they will become sick this year but it is smart to protect yourself and make a logical decision based on your previous history. How often did you go to the doctor or to a specialist over the past 5 years? Do you have children that are prone to getting ill? These are some questions you should ask yourself when determining which tier is best for you.
With a higher tier plan, your monthly premiums would be more but you can rest assured knowing that you do not have to pay nearly as much out of pocket when you or a family member gets sick.
Compare All Health Insurance from Healthcare Market Exchange
2020 Pennsylvania Medical Insurance Open Enrollment will be gone before you know it. Make sure you do not put this off and accidentally forget to sign up. With over 200 different options to choose from, the perfect plan for your specific needs can be very difficult to choose. Decide on a plan that fits your insurance coverage needs as well as your budget. The friendly representatives at Health Care Market Exchange offer 100% free health insurance assistance to help you compare all plans side by side. We partner with the most reputable insurers within Pennsylvania, so you know that any plan you decide to go with, will be quality. We guarantee the lowest legal rates so there is no need to call other health insurance brokers. Signing up for health insurance should be an easy process and we go out of our way to make sure that each customer is 100% satisfied.
Call us today at (888) 873-9003 to get covered for 2020. We want you to be completely happy knowing that you made the best financial decision for the health and wellness of your family.