Obamacare: Reducing Healthcare Cost Terror

Do you feel terrified when facing the rising healthcare cost?

If you are one of the many Americans who purchase health insurance through the Health Insurance Marketplace, you know that the cost of health care has been rising steadily for years. This can be a major source of stress and anxiety, especially if you are on a tight budget.

The good news is that there are several things you can do to reduce your healthcare costs.

1. Shop around for health insurance. This is the single most important thing you can do to save money on health insurance. There are many different health insurance plans available, so you should compare plans from several different insurers before you make a decision. You can use the Health Insurance Marketplace to compare plans and find the one that is right for you.
2. Choose a high-deductible health plan. A high-deductible health plan (HDHP) has a lower monthly premium than a traditional health plan, but you will have to pay more out-of-pocket for medical expenses before your insurance coverage kicks in. If you are healthy and do not expect to have many medical expenses, an HDHP can be a good way to save money on health insurance.
3. Use a health savings account (HSA). An HSA is a tax-advantaged savings account that you can use to pay for qualified medical expenses. You can contribute up to $3,650 to an HSA in 2023 ($7,300 for a family). Contributions to an HSA are tax-deductible, and you can withdraw money from an HSA tax-free to pay for qualified medical expenses.
4. Take advantage of preventive care. Preventive care can help you stay healthy and avoid costly medical problems down the road. Many health insurance plans cover preventive care services, such as annual physicals, screenings, and vaccinations, at no cost to you.

By following these tips, you can reduce your healthcare costs and make health care less terrifying.

If you are having trouble affording health insurance, you may be eligible for financial assistance.

The Health Insurance Marketplace offers financial assistance to low- and middle-income Americans who purchase health insurance through the Marketplace. This assistance can help you lower your monthly premium and out-of-pocket costs.

To learn more about financial assistance, visit the Health Insurance Marketplace website or call the Marketplace call center at 1-800-318-2596.

You can also get help from a licensed health insurance agent.

A licensed health insurance agent can help you compare health insurance plans and find the one that is right for you. Agents can also help you apply for financial assistance.

To find a licensed health insurance agent in your area, visit the National Association of Health Underwriters website or call 1-800-851-4678.