Health insurance is an essential commodity for individuals and small business. If you’re self-employed or are not provided insurance coverage by your employer, you should seek the best of the affordable individual plans available. Small business owners should focus on health insurance types in Alabama that provides ample coverage for employees and families.
In this article, we cover the available health insurance types in Alabama for individuals and small businesses. Individual health insurance options abound in Alabama. These plans are designed to cover individuals as well as their families. Obamacare plans for Alabama residents can be found on the federal marketplace and with approved insurance agents. These are plans that abide by the requirements of the Affordable Care Act. Obamacare plans provide extensive coverage for individuals and families.
Short-term health insurance plans are also available in Alabama. These are plans known for their accessibility and affordability. Although these plans do not offer extensive coverage, they are suitable for basic coverage and can be used for short periods before getting more extensive coverage. There are limitations to the length of coverage available with short-term plans. While you search for long-term plans, you could consider getting affordable short-term plans.
Individual health insurance coverage options in Alabama include dental and vision plans. These specialized plans are designed to cover services not generally covered by other plans. Health insurance in Alabama for vision and dental care are readily available without age restrictions.
Small businesses owners can get individual health insurance when the minimum requirements for group insurance are not met. Small Group health insurance in Alabama is available for small businesses with under 50 full time employees. Self-employed persons can also often get group health insurance for themselves and their families. Group health insurance for businesses are offered by the employer to the employee and the employer is responsible for paying at least 50% of the premiums. So with these plans, the cost of health care is split between the employer and employee.
The types of health insurance in Alabama for individuals and groups include HMOs, PPOs, HSA-qualified plans, and indemnity plans. The choice of a type of plan is dependent on factors such as needs and available finances.
With HMO health insurance in Alabama, the insured gets medical care from affiliated professionals and organizations. The insured chooses an organization from the affiliated network and visits it for all medical services. From the chosen organization, the insured can also be referred to experts, if need be.
PPO plans are designed such that the insured can get healthcare products and services from within and outside the affiliated network. With these plans, the claims differ according to whether the healthcare professional is within or outside the network.
A subgroup of PPO plans known as HSA-qualified plans are also available in Alabama. With these plans, part of the cost of health care is covered with pre-tax funds saved in a health savings account. A health saving account is specially dedicated to medical expenses.
We should also mention that Medicaid and Medicare plans are available forms of health insurance in Alabama. Medicare is available for persons that are at least 65 years old. Persons with disabilities or special conditions that are younger than 65 years may also qualify for Medicare. Medicaid is aimed at persons with a low source of income.
These plans differ from HMOs and PPOs in that there are no networks of providers. Instead, the insured visits an organization and an agreed portion of the cost of products and services is covered by the insurance company.
Health insurance types in Alabama come in different forms for individuals and groups. Choosing the most suitable plan requires an understanding of the available options in comparison with your needs. Talk with an Alabama health insurance agent today to find out what type works best for you or your organization.