Although every person’s situation is different, exploring private coverage options can help you enjoy various benefits. For instance, if you’re shopping for a private health plan, certain types of coverage are available at any time of the year, instead of only during open enrollment periods.
Unless you qualify for a special enrollment period, marketplace plans are only available during the open enrollment period. If you don’t qualify for a special enrollment period, some types of private health coverage, such as short-term plans, can help bridge the gap.
If you’re not currently insured, even a small emergency—like a broken bone or a long-term illness—can ruin you financially. While nobody expects to get sick or fall down the stairs, these things can happen. Along with emergency services, most private plans also cover the cost of prescription drugs and preventive measures. Investing in health insurance can reduce your out-of-pocket costs in the event of an emergency.
If you purchase a private plan through a private insurance company, average premiums may be lower than marketplace plans.