If you own your own business or your employer doesn’t offer health insurance, you might have to look into private health insurance. Under private health insurance, policyholders pay the entire premium based on the coverage they choose. Call Taake Insurance Agency in Columbia, IL for assistance selecting your health insurance policy and understanding the various options available.
Who Needs Private Health Insurance?
If you just turned 26 and can no longer use your parents’ insurance, you might need to purchase private insurance. Those who are unemployed or self-employed also need to find their own insurance since there is no employer to turn to for benefits. The same holds true for part-time workers and new business owners who don’t have the option of an employer-based plan. Additionally, recent retirees who may not qualify for Medicaid and Medicare may also turn to the private health insurance market.
Your insurance agent can help you navigate the Health Insurance Marketplace created in 2014 under the Affordable Care Act (ACA). It’s a good idea to understand the types of private insurance available before narrowing down your best options.
Types of Private Insurance Plans Available
Here are the most common types of private insurance plans. A health maintenance organization (HMO) provides insurance coverage via a specific network of approved providers. A preferred provider organization (PPO) offers medical care to subscribers for reduced rates. An exclusive provider organization (EPO) restricts covered care to providers within a documented network — excluding exceptions for emergencies. Additionally, a short-term insurance policy lasts for a short term of up to one year. This type of coverage can ensure that you have health insurance between open enrollment periods.
Contact Us Today
If you need assistance finding and securing private health insurance, contact Taake Insurance Agency in Columbia, IL. We can set up an appointment to discuss your needs and provide options for effective insurance coverage.