Health insurance is a complicated subject about which many people are confused or misinformed, especially since the passage of the Affordable Care Act (ACA). If you’re unsure about your healthcare options, the following information will cover the basics. Below are answers to several frequently asked questions about health insurance.

Answers to Commonly Asked Questions About Medical Insurance

What does health insurance cover?

Depending on the policy, health insurance covers a wide variety of treatments, illnesses, and medical needs. Therefore, you need to understand what type of coverage you want and need before signing up for insurance. For instance, if you’re young and healthy, you may just want something that protects against a catastrophic illness or injury. If you have a family, you'll likely want insurance that pays for checkups, medications, and other procedures.

Is it required by law?

In the U.S., the passage of the ACA made health insurance mandatory. However, Congress later removed the tax penalty for failure to comply with the requirement. It’s still the law, and protecting yourself with health coverage will only ever be beneficial.

What if you cannot afford insurance?

If coverage seems beyond your means, you will likely receive government assistance in purchasing a policy. You may qualify for a subsidy to help you afford premiums, or could receive a tax credit to reduce the amount of outlay.

How do you buy health insurance?

If you wish to be considered for government assistance, you must enroll through a state marketplace during the open enrollment period — that usually lasts from early November to early December. To purchase coverage without financial assistance, you can contact any insurance agency at any time and ask for help designing a policy that meets your needs.

To discuss your health insurance options with an experienced, knowledgeable agent, get in touch with Taake Insurance Agency in Columbia, IL. They are locally owned and operated and have served Monroe County for more than 40 years. In addition to health insurance, they also carry home, life, farm, auto, and business insurance. Visit their website to view health insurance details or call (618) 281-7656 to request a free insurance quote.