What you Need to Know to Get Cheap Health Insurance in Wisconsin

Millions of people signed up for ACA-compliant coverage in 2016. However, did you know that many people who bought cheap health insurance for 2016 may not be getting the best deal? Here are a few tips to help you make sure you get cheap health insurance in Wisconsin during the next open enrollment period (November 1, 2016 – January 31, 2017).

1. Don’t automatically renew your plan each year. Even though it’s time-consuming, it makes sense to shop around. An analysis of the lowest cost silver plan offered on the Health Insurance Marketplace in 2015 showed a premium increase of 15 percent for those who automatically re-enrolled. The analysis showed that if these people had shopped around, they could have saved $322 per year on premium costs.1
2. Find out if you qualify for subsidies. In 2016, you can earn up to $47,520 as a single person in Wisconsin and still be eligible for subsidies that can lower your monthly premiums. Singles who earn up to $29,700 may also be eligible for Cost Share Reductions. This benefit means that insurance covers more of your costs when you go to the doctor, clinic or hospital.
3. Look deeper than the cost of the premium and deductible. Nationally, almost half of Americans take prescription medications and 10 percent use five or more medications!2 If you’re one of the people who uses prescription medications, it’s important to find out what your prescription copays are. Keep in mind that these copays can be different depending on the type of drug. Insurance companies generally divide medications into tiers, with the cheapest being generics and the most expensive being new brand-name medications or those that have to be administered by a health care professional.
4. Age matters. If you’re under age 26, you can be on your parent’s health insurance plan, even if you’re married, don’t live with them and have children of your own. If you’re under 30, or have a hardship exemption, you can get catastrophic coverage. These cheap health insurance plans have some of the lowest premiums (and highest deductibles) in Wisconsin.
5. Preventive screenings are free. If you buy any ACA-compliant plan, it comes with some health care screenings and preventive care at no-cost, even if you haven’t met your deductible. If you choose a cheap health insurance plan and take advantage of these preventive care services, you will have good coverage at low cost.
6. Help is available. All ACA-compliant plans cover the same wide range of health care services. However, there are many choices when it comes to premiums, deductibles and out-of-pocket costs. If you have questions, give one of Unity’s knowledgeable customer service representatives a call. They can help you decode the health insurance lingo and find a cheap plan that is best for your needs in Wisconsin.

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1. Cox, Cynthia; Claxton, Gary; Levitt, Larry: Potential Savings from Actively Shopping for Marketplace Coverage in 2016. The Henry K. Kaiser Family Foundation. November 18, 2015. Accessed April 26, 2016.
2. http://www.cdc.gov/nchs/fastats/drug-use-therapeutic.htm