A Guide to the Most Affordable Health Insurance in Alabama
The State of Alabama has a significantly lower health insurance coverage rate than the national average. Nearly 18% of Alabama residents do not have insurance, compared with 13% nationally. One of the biggest barriers to health insurance in Alabama is the cost of health insurance in Alabama. Are you looking for a reliable health insurance agency Mobile AL.
Read on to learn about the most affordable health insurance Alabama.
How to Find Affordable Health Insurance Alabama
Not everyone qualifies for Medicare or Medicaid. Those programs are intended for elderly, low-income individuals, and those with disabilities. If you do not qualify for either of those categories, you may need to buy private insurance.
Fortunately, there are many affordable health insurance options, especially through the Obamacare program. The cost of health insurance in Alabama through the Alabama insurance exchange varies, but all plans follow the same basic principles that balance premiums with expected out-of-pocket expenses.
In other words, like private insurance plans, the more you pay per month, the lower your out-of-pocket expenses could be and as well as your greatest payouts per year.
How Does the Metal Tier System Work?
Like other states, Alabama’s insurance plans follow a metal tier system. Don’t think about the tiers affecting the quality of care you receive. Rather, the tier system is a way to organize plans by price.
In Alabama, there are five levels of tiers: Catastrophic, Expanded Bronze, Silver, Gold, and Platinum. Plans that share names of valuable metals (platinum and gold) tend to be more expensive but come with unique benefits like lower out-of-pocket costs.
Catastrophic care is intended for people who do not plan on needing routine medical care. They are looking for coverage in Huntsville, Alabama, or elsewhere that provides coverage in case of a medical emergency.
The average cost of Expanded Bronze in Alabama is $361, while Silver plans average $449 per month. Gold ($537) and Platinum ($466) plans top the price chart, which varies depending on location and age.
The overlap is not always straightforward, though. Platinum plans are usually more costly than Gold, but there can be variations depending on markets. In general, if you believe you will need regular medical care, your best bet may be to go with Platinum or Gold plans. Those cover 80 to 90% of medical costs, meaning you will pay less out of your own pocket.
Those who qualify due to low-income considerations may enjoy cost-sharing reductions. The benefits of cost-sharing reductions (CSR) can include lower deductibles.
What Are the Cheapest Health Insurance Rates by Age and Metal Tier
The cost of your health insurance will depend on several factors, and age is the biggest one. A 26-year-old in Alabama, for instance, can expect to pay $360 a month for a plan that would cost a senior citizen nearly $1,000 per month.
As you age, you can expect insurance plan premiums to increase as well. You can always save by opting for a Bronze plan, but you may have to pay more in out-of-pocket expenses if you ever need treatments.
For a 40-year-old, the Blue HSA Silver for Business by Blue Cross and Blue Shield of Alabama begins at $292 per month. Alabama residents can purchase the Blue Secure Silver for Business with Blue Cross and Blue Shield in Alabama
for $330 per month. Another great deal is the Blue Cross Select Silver choice, also by Blue Cross and Blue Shield of Alabama, which costs $547 per month.
The Cheapest Health Insurance in Alabama by County
It is not widely known, but the area of the state you live in determines what your plan costs. The Yellowhammer State has 67 counties that insurance companies divide into 13 rating areas.
Jefferson County, for example, has some of the cheapest Silver plans from BCBS in Alabama. The HSA Silver for business choice can be bought for $303 per month. In Baldwin County, men and women can buy Catastrophic insurance for as low as $299 per month.
The Cheapest Health Insurance in Alabama With High Out-of-Pocket Maxes
Many young men and women could enjoy paying lower monthly premiums through higher out-of-pocket maximums. Those lower premiums add up over the course of years.
For a 26-year-old, the Blue Protect plan from BCBS of Alabama offers the cheapest high out-of-pocket Alabama plan. The monthly premium is $244.
The Cheapest Health Insurance in Alabama With Low Out-of-Pocket Maximums
The out-of-pocket maximum of your plan should be one important consideration. If you have a medical emergency, this factor could save you thousands of dollars. For older men and women, sticking to plans with the greatest payouts of several thousand dollars could lead to savings over the course of a year.
For $466 per month, you can buy Blue Choice Platinum for Business plan by Blue Cross and Blue Shield of Alabama. This is a great choice for residents seeking low out-of-pocket expenses for medical care in Alabama.
Some of the lowest maximum payments offered by Alabama health insurance marketplace plans are as low as $4,000. For people who can budget for this expense, these plans can be a great cost-saving plan.
Find Affordable Health Insurance Agency Mobile AL Today
Don’t put off enjoying the quality health insurance that you deserve. Affording health insurance in Alabama is easier than you think once you find the right health insurance agency Mobile AL.
The team at The Real Insurance Lady will guide you through the process. We’re the nation’s top Obamacare provider. Contact a member of our team today to start the process.
