How to compare health insurance quotes
Whether you receive a health plan from your employer or are looking for a plan on the Affordable Care Act (ACA) marketplace, online quote comparison helps you find the right plan at the right price. Here’s how to compare health insurance quotes in five steps:
1. Gather key documents
You’ll need to compile key documents before you can get health insurance quotes. Find your insurance card if you already have an insurance plan. This card contains your member ID number, group number, and plan type. If you have multiple plans, gather all your insurance cards before starting the process. You’ll also need to provide key demographic information, including your ZIP code, income, number of people in your household, and more.
2. Access your healthcare marketplace
Visit healthcare.gov/see-plans to find insurance quotes on the ACA marketplace. Enter your ZIP code, which will either direct you to your state’s specific marketplace website or show you plans directly on the ACA website. If you’re comparing plans provided by your employer, you may have a portal where you can access health insurance quotes online.
3. Decide on your ideal deductible
Assess your financial situation and decide if you’d prefer high monthly premiums and a low deductible or low monthly premiums and a high deductible. The deductible is the amount you pay for covered care costs before your coverage kicks in. You’ll see plans organized in four categories that explain how costs are shared with your health insurance company: bronze, silver, gold, and platinum.
Learn More: What Is a Health Insurance Deductible?
4. Add up the total costs
Note the other out-of-pocket costs associated with each plan, such as copays and co-insurance. These payments aren’t included in your premium and deductible, but they do factor into the total cost of a healthcare plan. You should also consider the plan’s out-of-pocket maximum, which is the maximum amount you can pay out of pocket in a given coverage period before your medical coverage kicks in.
5. Keep track of exclusions
The ACA marketplace will also note exclusions from each plan that you can consider. You should also see if the plan covers out-of-network medical expenses. For more information on a given plan, contact an insurance agent or access the plan’s summary of benefits and coverage, which outlines coverage in detail.