Additional Financial Assistance With Health Insurance

Re-posted on 10/16/19
NEW 2020 Federal Poverty Level Chart added 10/16/19

See the Health Insurance Subsidy Chart below.

There is additional assistance called Cost Sharing Reduction.

This is in addition to a “Subsidy.

If your family size and income ranks you under the 250% Federal Poverty Level, you are eligible for additional assistance to reduce your Health Insurance and overall out of pocket medical expenses.

Health Insurance Silver Plan

This benefit is only available when you buy a “Silver” plan.

Your deductible, out of pocket maximum, co-pays and co-insurance will be less.  You’ll get additional financial assistance to cover more of your portion of the medical expenses.  So in addition to getting the “Advanced Premium Tax Subsidy,” you’ll also have the “Cost Sharing Reduction” to reduce deductibles, co-pays, and co-insurance.

If your income is under the 250% poverty level, this is a very important and financially beneficial benefit to take advantage of.

This chart was updated 10/16/19

2020 Health Insurance Federal Poverty Level - chart
Call us for details
(702) 898-0554

Get a Fast & Free Online Quote

We’ve seen Nevadan’s enroll into a health insurance plan without help from a broker/agent, they buy the cheapest health plan available, shopping for the cheapest premium possible.  If they’d understood this benefit, in some instances for just a few dollars more a month, their deductible could go from around $6000 down to sometimes as low as $0!

DO NOT harm yourself financially by picking a plan and not understanding the benefits you may be entitled to and may miss out on.

What does this mean exactly?

Let’s say you pick a bronze plan (the cheapest plan you can find).  Then, during the year you actually use your insurance, like needing to have surgery or two broken legs, the hospital may ask you to pay your $6000 deductible first before they will perform your surgery.  Even if they bill you, you still owe $6,000 (or whatever your HIGH deductible is).

Now, if you would have gotten good advice and assistance and enrolled into a SILVER plan (when you are entitled to a cost sharing reduction), it’s possible your deductible could be as low as $0.

We’ve sadly seen it too many times that someone purchases the cheapest plan they can, not understanding that they were giving away a $0 deductible plan for a $6,000 deductible plan, only to save themselves a few dollars a month.

Get sound advice from a Nevada Insurance Enrollment health insurance agent that knows Nevada’s plans.

Related Articles:

What is a Health Insurance “Deductible”

Health Insurance “Subsidy” aka Advanced Premium Tax Credit

Be Careful Stating Your Income For Health Insurance Subsidy

The Federal Poverty Level and Your Health Insurance Subsidy

Read More: Health Insurance in Las Vegas, Nevada
Health Insurance in Nevada WITH a Subsidy

Call us for assistance

(702) 898-0554

Serving Las Vegas, Henderson, North Las Vegas and the entire state of Nevada

Four Ways to Enroll

1).  Apply by Phone

(702) 898-0554

2).  Apply in Person

(by appointment ONLY)

Please call to make an appointment

3).  Quote Yourself

get an instant online quote

4).  Help Me With The Quote

an agent will call you

Path Image - Insurance is confusing

Search This Website

Enter a search term here

Search
Generic filters
Exact matches only
Search in title
Search in content

Why Go Anywhere Else?

When you can have an experienced and caring professional guide you.

Insurance Quotes | Plans | Coverage
Nevada Insurance Enrollment small logo - Insurance Agency in Las Vegas, Nevada
Read why it’s smart to use an insurance agent