What are the Best Health Insurance Options in Texas?
Health insurance is something which can cover our health expenses without going hard on our pockets in one go. It can include some or all of the expenses or payments done for your health depending on the type of insurance you chose. Health insurance helps you lessen your medicals bills during emergencies.
The type of health insurance to choose can depend on some factors for an insured. The insurance can be for an individual, your family, and your employees too. The insured must estimate the health needs first. The best health insurance for you must look into your monthly premium cost, the benefits covered, the hospitalization network under the insurance, out of network care and the cost sharing needs to be associated with the plan. The cost-sharing requirements must always be affordable, once the medical needs have been anticipated.
Estimating medical needs -
- Premium –The monthly premium which you will pay depends on your age, living and if you use tobacco. A tax credit can also help you paying coverage, depending on your family income.
- Health maintenance organization –The hospitalization network covered in plans can be of prime importance. Out of network care may require referrals by your prime care provider and is only covered during emergencies. Plans should always be compared with the network coverage provided to minimize balance billing.
- Deductibles –The amount which you have to pay each year out of pocket for the covered services before your plan begins to cover your medical costs.
The insurance enrollment period for the marketplace and individual plans is from November 1 to December 15 each year. The four major types of health plans in Texas include HMO, Exclusive Provider Plans, Preferred Provider Plans and Point of Service plans.
Texas health insurance policies can be understood and compared using a metal tier to indicate the coverage amount as follows:
- Platinum plans which have the highest premiums, no deductibles, and no cost-sharing options. These plans cover 90% of your medical costs.
- Gold plans where insured expects high medical care needs. These plans come with high premiums, 80% coverage and lower copays, coinsurance and no deductibles.
- Silver plans where balanced medical needs can be covered for an average income individual or family. It comes with moderate premiums and wider cost-sharing options suitable for lower income households. Silver plans cover 70% of your medical bills with separate medical and Rx deductibles.
- Bronze plans although have low premiums but can increase your out of pocket costs when required. It covers 60% of your medical expenses with high deductibles and no cost-sharing subsidies.
Health care policies in Texas, require all of the insurance companies to work under the metal plans flow. However, the difference may come when we talk about the benefits provided under the plans by the companies. Under the Affordable Care Act, the essential benefits are included in all of the plans available for individual, family or group, no matter what you choose.
Essential benefits include emergency services, ambulatory patient services, hospitalization, maternity and newborn care, prescription drugs, pediatric services including oral and vision care, laboratory services, mental health, and substance use disorder services, including behavioral health treatment, rehabilitative services and devices, preventive and wellness services and chronic disease management.
Some of the best health insurance providers in Texas are:
- Blue Cross and Blue Shield of Texas
- Firstcare Health
- Christus Health Plan
- Molina Healthcare of Texas
- Oscar health
- Vista 360 health
- Scott and White health plan