What is Health Insurance?
Health Insurance, also known as Traditional Health Insurance or Private Health Insurance, is a type of coverage that helps pay you the costs of wellness, preventative, illness, and emergency medical care. You can obtain an individual health insurance or a family health insurance plan. Some employers offer health insurance coverage as an employee benefit. Or you may purchase your own plan either within or outside of a health insurance exchange.
What Is Covered by Health Insurance?
While most policies cover preventative services, specific coverages and the amount your carrier will pay towards your medical expenses will vary. Your Health Insurance policy will list the “covered services” for your plan.
Policies purchased through the Federal Government’s or your State’s marketplace are required to include at least 10 Essential Health Benefits (EHBs). For example, the 10 EHBs for the Federal Health Insurance Marketplace® are:
The list of 10 Essential Health Benefits (EHBs) for an exchange run by your particular state may vary from the list above.
Are There Any Out-of-Pocket Costs?
While the services in your plan may be listed as “covered services,” they may not be automatically free. Typically, the more money you contribute towards your own healthcare expenses, the lower your carrier’s monthly premium (i.e., monthly payment) and other plan costs. In addition to paying your monthly premium, you may also have to pay the following out-of-pocket costs:
What is the Health Insurance Marketplace®?
The Health Insurance Marketplace® is a service operated by the Federal Government that helps people shop for and enroll in health insurance plans. You may also hear it referred to as the “Marketplace” or the “exchange.” To explore plans offered on the Health Insurance Marketplace®, you may use our link or visit www.healthcare.gov.
Some states operate their own health insurance exchanges. To explore plans offered on Colorado’s state-run exchange you may Get A Quote from us or visit www.ConnectforHealthCO.com.
We can also help you find traditional Health Insurance Plans outside of the marketplace.
What Are Some Alternatives to Health Insurance and How Do They Work?
When shopping for health insurance, you may come across alternative types of coverage, such as:
Contact Us to help you find the right health insurance coverage for you or your family.
Phone: (720) 923-1620
Westminster, CO 80234
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