Nevada Insurance 101 - Learn why the cheapest deal isn’t always the best deal.

Learn why you cannot afford not to have health insurance

Insurance is confusing for many, which is why education is key to understanding health insurance and making educated decisions when purchasing a health insurance policy. 

By purchasing a health insurance policy, you can protect your health and your wallets. Unexpected accidents and illnesses happen.  For instance, a mountain biking activity results in a trip to the ER, or a weekend game of soccer sends you to an orthopedic group or that nagging pain in your right side is diagnosed as appendicitis.  The bill from the doctor or hospital will not only hurt your bank account, it can turn into a credit nightmare. 

Everyone worries about the cost of a health insurance policy; however, insurance does not have to be expensive. While the uncertainty around the Affordable Care Act has caused rates to increase, the subsidies, also known as the Advanced Premium Tax Credit (APTC) that eligible consumers receive to offset the cost of health insurance premium adjusts to ensure the consumer is still paying what is “affordable”.  To learn if you are eligible for these subsidies, visit Nevada Health Link

A high deductible plan may limit a possible financial disaster. Catastrophic and bronze plans are available for as low as $200 a month for a nineteen year old and people in their twenties can easily find a plan for around $250 or less a month. To view health insurance rates visit http://healthrates.doi.nv.gov/Wizard.aspx 

Under the Affordable Care Act, a person may stay insured under a parent’s health insurance policy until that person is 26 years old. After that, millennials need to purchase their own health insurance. It may be a good idea to start shopping before the age of 26, so the new insurance policy may begin when the old one stops, avoiding any gaps in coverage.  

Investing in a health insurance policy now, can save you a lot of money later. Don’t begin your career with a bankruptcy or poor credit because you were caught unprotected by a health problem or an injury.  The cost of two nights in a hospital can be the difference between good credit and years of rebuilding that good credit.

Frequently Asked Questions

Everyone should shop for coverage...even if you already have insurance. There are new plans available each annual enrollment period so you should be sure to review your options. Even if you decide to stay with your current plan, here are some questions you should ask to be sure that you pick the plan that is best for you.

  • Does the health plan cover your preferred doctor?

  • Are your current medications covered by this plan?

  • Are you eligible for a subsidy?

  • Do you anticipate high or low medical expenses next year?

  • Is the premium affordable?

  • Is the deductible affordable?

Put all that knowledge to work. Use our Rate Wizard Tool to compare rates now.

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