Before you apply for 2022 Marketplace medical insurance starting November—there are various things to consider that will help you choose the best insurance plan that is right for you.
The four Metal groups
- There are four groups of Marketplace insurance plans: Silver, Gold, Bronze, and Platinum.
- These categories indicate how you and your insurance plan share costs. Furthermore, plan groups have nothing to do with the treatment quality and offered services.
- You must get familiar with Marketplace health insurance categories before applying for 2022 open enrollment.
Health insurance coverages and network types
- The Marketplace health coverage plans are designed specifically to meet various requirements. Some plans limit your options or encourage you to use the plan’s network of doctors, pharmacies, hospitals, and many clinical service providers. In contrast, other programs pay a higher share of costs when using services outside the plan’s network.
- Visit your Marketplace insurance company website to find different types of plans available in the market.
Total healthcare expenses
- Consider your total health care expenses, not only the monthly premiums. Other out-of-pocket expenses have a significant impact on your total healthcare spending—in some cases more than the insurance premiums.
- It is crucial to estimate your 2022 monthly earnings. It will help you choose the Marketplace insurance plan that’s right for you.