Finding individual health insurance has always been complicated for some people in the past. Just because health insurance is now required to avoid a tax penalty does not make it any easier to navigate. In some cases, it has made things even more confusing for people. The trick is to find a good health exchange website on which you can compare a lot of different companies. In many respects, finding health insurance is much the same as it always has been.
First, find a health exchange website. You might need to sign up with the website first, such as the health exchange website put up by the federal government. Create your profile, then start browsing. You might need to submit certain information such as your income, age, and some of your medical background. Once you submit this information, you may gain access to quotes from various insurers. You can see what type of coverage you qualify for and at what price.
You might need to submit additional information to see if you qualify for certain tax breaks or subsidies. If you do, you may be able to get individual health insurance at an even more affordable rate. If you submit the information, but do not qualify for any subsidies, then you will need to pay the premium for whatever health plan you ultimately decide to purchase.
You can select to forego health coverage. If you do, you will need to pay the Individual Mandate, which is a tax penalty. The penalty is either a flat rate or a percentage of your income, depending on which is more expensive. The rate increases over the next few years before leveling out to only increase with inflation.
Finding an individual health insurance plan is much like it always has been. You still need to shop around and compare policies and prices to find out what is right for you. Do not forget to look into the subsidies to see if you qualify for even cheaper options. If you have not started looking yet, now is as good of a time as ever to start.
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