Top 5 Terms Shoppers Should Know Before Open Enrollment
MOUNTAIN VIEW, Calif., Oct. 27, 2016 /PRNewswire/— GetInsured, a leading online health insurance marketplace for consumers, is urging consumers to inform themselves as much as possible before enrolling in a health insurance plan this fall. Collective Health notes that as many as 61 percent of adults in the United States are not financially prepared to cover annual out-of-pocket medical costs of $5,0001, and with roughly 90 percent of plans on the Marketplace carrying high deductibles2, this could easily put millions of Americans in a bad financial position. In fact, according to Kaiser Family Foundation, 43 percent of the insured said they delayed or skipped physician-recommended tests or treatment because of high associated costs.
Understanding plan features and overall annual expenditure is critical for consumers’ financial and physical health. GetInsured offers access to online tools not found elsewhere, to help consumers determine the best plan for their needs based estimated yearly expenses, not just monthly premium. Plus, last year, only 12% of plans offered on The GetInsured Marketplace carried high deductibles, and less than half of individual plans surpassed the $5,000 mark. Those looking for coverage can shop for and compare plans on GetInsured.com starting November 1.