English | French | Spanish | Deutch

Single Blog Title

This is a single blog caption

How to Get Health Insurance (Health Insurance 3/3)

Transcript

00:03
Meet Susie.
00:04
Susie is a recent college graduate and first-time employee trying to get health insurance.
00:08
She’s watched our first two videos “Health Insurance 101 and 102”, so now she understands
00:15
how health insurance works.
00:17
However, she still has no idea how to get it.
00:21
What should she do?
00:22
Well, let’s first cover the good news.
00:25
Many employers already provide affordable health insurance, not to mention Susie can
00:30
continue stay on her parents’ health insurance plan until she turns 26.
00:35
This is true even if she’s married, moves out of her parents’ home, or is no longer
00:39
claimed as a dependent on her parents’ tax returns.
00:43
However, for our purposes, let’s say Susie is unable to stay on her parent’s health
00:47
insurance and her employer-sponsored plan isn’t great.
00:51
What should she do?
00:52
Well, Susie still needs health insurance, especially because there’s a sizeable annual
00:57
penalty for not having it.
00:59
However, thanks to the Affordable Care Act, it’s now very easy for Susie to find great
01:04
health insurance plans, either through our recommend website or through healthcare.gov.
01:09
Then, once Susie finds her desired plan, she can then easily complete the application online,
01:15
where she may even automatically qualify for a federal subsidy that lowers the cost of
01:20
her insurance, so long as her income meets a certain threshold.
01:24
However, there is a catch to all this good news.
01:28
Unless Susie qualifies for Medicaid, the government’s health insurance plan for low-income individuals,
01:33
she can only apply for health insurance during open enrollment, which lasts from November
01:38
1st to January 31st.
01:41
Outside of it, Susie can only apply for health insurance within 60 days of what’s called
01:45
a qualifying life event, such as moving to a new state, getting married, having a baby,
01:51
or involuntarily losing your existing health insurance coverage.
01:55
Finally, now that Susie understands how to get health insurance, as long as she follows
02:00
these six rules she should be set for the future:
02:04
Rule 1: Make sure the insurance plan you’re considering has coverage in your area.
02:09
Rule 2: Be sure to read the fine print of any health insurance plan you’re considering,
02:14
Rule 3: If you’ve picked a high deductible insurance plan, we recommend opening a Health
02:20
Savings Account, in which you can deposit money tax-free to pay for qualified medical
02:25
expenses.
02:27
Rule 4: Once you’ve finished your insurance shopping, you’ll need to find a great primary
02:31
care physician in your insurance network and book an annual physical, both of which you
02:37
can do easily using our recommended website.
02:40
Once booked, be sure to arrive to your appointment early and always bring your photo ID and insurance
02:45
card.
02:46
Rule 5: Once you’ve received your medical bill from your provider, be sure to compare
02:50
it with your Explanation of Benefits, which is a document, not a bill, that explains how
02:56
much your insurer paid your provider.
02:58
Should you find a mistake on either one, like a duplicate charge or wrong insurance information,
03:03
be sure to call your insurer and provider immediately.
03:06
And don’t worry, if for whatever reason you still can’t pay your medical bill, you’re
03:10
not out of options.
03:11
You can either contact your insurer and provider and ask for assistance, or use the website
03:16
GiveForward to crowdfund your medical expenses from your friends, family, and even strangers.
03:22
Rule 6: Before renewing your health insurance plan each year, be sure to check out other
03:27
plans during open enrollment.
03:29
There may have been significant improvements in cost or coverage since you last applied,
03:33
especially if you got your plan before January 1st, 2014.
03:38
Rule 7: (the final rule): If you lose your job, don’t automatically take COBRA, which
03:43
is a high-priced way to extend your employer-sponsored health insurance for up to 18 months.
03:48
Instead, shop around for other health insurance plans before making any decisions.
03:53
Congratulations!
03:55
You have finished our health insurance basics curriculum!
03:58
If you want to see our free recommendations for great health insurance plans or HSAs,
04:02
or just check out more educational material, be sure to check out our website.