Choosing Health Insurance in El Paso

How can I choose Health Insurance in El Paso Texas?

Companies providing insurance for El Paso Texas: Ambetter, Blue Cross Blue Shield of Texas, Molina Health Insurance and OSCAR

Categories of Marketplace insurance plans

When you research about Marketplace Insurance Plans you will find that you have to choose between four categories on the basis of the costs you will share:

Affordable Care Act Bronze Plan: are designed so that insurance companies will pay 50% to 60% of covered healthcare expenses with the remaining 40% to 50% to be paid by consumers.

Affordable Care Act Silver Plan: the insurance company pays 70% of covered healthcare expenses you pay 30% of the remaining expenses.

Affordable Care Act Gold Plan: the insurance company pays 80% of covered healthcare expenses you pay 20% of the remaining expenses.

For people under the age of 30 and those with very low incomes there are "catastrophic" plans (Very Low montly payment and Very High Hospitalization costs, just use in in case of an emergency). All the categories of the Marketplace Insurance Plan offer similar essential health benefits. All the categories provide the same quality of care.

The categories affect the monthly premiums you pay and the amount you have to pay for hospital visits or medicine. Your choice also regulates the out-of-pocket costs that are the amount you will spend for services rendered during the year.

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For all plans a monthly premium is to be paid. But you also need to know your out-of-pocket costs for services when you require care. Out-of-Pocket cost are your expenses for medical care that aren't reimbursed by your insurance company (deductibles, coinsurance, and copayments for covered services plus all costs for services that aren't covered, etc) up to a certain amount called Maximum-out-of-pocket that limits how much you can pay in one year (it varies by plan).

Generally it should be kept in mind that: lower premium (your montly payment) equals to higher out-of-pocket costs when you require care (payment of services in the Hospital) . Higher premium (your montly payment) equals to lower out-of-pocket costs when you require care (payment of services in the Hospital).

For example a Gold plan the premium will most likely be higher, but may cut down on costs for doctor visits or any other aid.

For a Bronze plan you most likely pay a lower montly premium. But when you need care, higher costs are to be paid by you.

The Highest monthly premiums and the least out-of-pocket costs are given to Platinum plans. When you need more care, this plan will have greater financial coverage for all your medical needs.

Considerations while choosing your plan in El Paso Texas

You may want to think about the health care requirements of your family, here in El Paso, while choosing a Health Insurance Plan.

Do you require many doctor visits or regular prescriptions?

If yes, than you may apply for a Gold or Platinum plan

If not, than you may apply for a Bronze or Silver plan. But make a note that if you face a serious accident or sudden medical problem, under the Bronze and Silver plans you will have to pay more for hospitalization.