How to Choose Affordable Health Insurance in New York

New Yorkers spent an average of $6,335 on health care costs in 2017. That’s a 27% increase from what New Yorkers spent just four years earlier.

It may seem impossible for the average New Yorker to get affordable health care coverage. It is possible to find affordable health insurance in New York. You just have to know where to look.

Read on to find out where you can turn to get quality health insurance that’s affordable.

Healthcare Marketplace

The Affordable Care Act was passed clouded by controversy in 2010. 

It works by offering private insurance plans, but you receive a tax credit that’s applied to the monthly premium. The amount of tax credits you receive is based on your estimated income for the upcoming year. For example, you’ll estimate your 2021 income now to apply for health care coverage.

When you do your tax returns for the 2021 tax year, you’ll reconcile your income with the tax credits you received. If your income was more than you estimated, then you may have to pay back some of the tax credits that were applied towards your premium payments.

In New York, the health care marketplace is operated by New York State’s Department of Health. You can apply at this website to find out what kind of health coverage you qualify for.

Medicaid Insurance

If you’re a low-income New Yorker, you may be able to qualify for Medicaid coverage through the New York State Department of Health. You’ll have to apply for healthcare coverage using the same application form to apply for the Healthcare Marketplace.

The Department of Health will determine what coverage you qualify for depending on your income.

Medicare for Retirees

If you’re over 65 years old, you’ll qualify for Medicare coverage. You may find that Medicare coverage will pay for most of your health insurance costs.

However, Medicare doesn’t cover everything. For example, Medicare doesn’t cover long-term care, and most dental and vision care. Medigap coverage is a type of insurance policy that takes care of these gaps in Medicare coverage. These policies are provided by private insurance providers.

Be aware that these policies will vary in coverage. This company lets you shop for different Medigap plans so you can find the coverage that fits your needs.

Finding Affordable Health Insurance in New York

Do you need to find health insurance in New York? It can be challenging to find affordable options, especially since New Yorkers spend more than the average American on health care costs.

You do have a wide range of health insurance options, from getting covered through the Healthcare Marketplace to Medicare and Medigap coverage if you’re retired.

When you do choose coverage for yourself, make sure that you look at the total cost of healthcare, not just the monthly premium payments.

You want to make sure that you live a healthy lifestyle, which will help lower your overall health care costs. Check out the Health and Fitness section of this site for tips and insights.

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