Dispelling health insurance's biggest myths

Health insurance is complicated. Not many people will disagree with that. And since it's the time of year when individuals and families can enroll in a health insurance plan for 2023, it's a perfect time to correct a few common myths about health insurance so you can make an informed decision about buying a health plan for you and your family.

Myth No. 1: "I can't afford health insurance." Four out of five people could get a health insurance plan for $10 or less per month through the Health Insurance Marketplace (sometimes called Obamacare) in 2022. Wonder how that's possible? The federal government increased the amount of financial assistance you can get to help lower your monthly bill. The state's leading health insurer, Florida Blue, estimates that more than 174, 000 people in the state are uninsured even though they could get a Marketplace plan that would cost them $0 each month.

Myth No. 2: "I can't get financial assistance or a subsidy." It's time to take another look. There are now two major changes that increase the number of people who qualify for help. In 2021, a new law went into effect giving more than 174, 000 uninsured people living in Florida, who previously made too much money, access to financial assistance. And in 2022 a new federal rule expanded access to subsidies to family members who can't afford employer coverage. If your job offers health insurance coverage, but your family members are uninsured because family coverage costs more than you can afford, your family members may be one of the estimated 269, 000 people in Florida who now qualify for an ACA plan with financial assistance.

Myth No. 3: "I'm healthy and don't need health insurance." We never plan to get sick or injured, but we've all learned from the COVID-19 pandemic that we never know what can happen. The average ER visit in Florida costs $10, 000, according to the Florida Agency for Health Care Administration, and cancer treatment can cost you hundreds of thousands of dollars. And health insurance not only helps pay your medical bills if you get sick or hurt, but it can also help keep you healthy. With Marketplace plans, you get checkups, vaccines, yearly bloodwork, and cancer screenings at no extra cost.

Myth No. 4: "Finding the right insurance plan is too confusing." Health insurance can be confusing, and there are thousands of insurance plans available here in Florida through the Health Insurance Marketplace. But the good news is you don't have to figure it out on your own. Licensed health insurance agents and navigators can walk you through your options, explain all the terminology, see if you qualify for financial assistance and help you enroll in a plan. Health insurance agents will not charge you a fee to help. You can visit your preferred insurance plan's website to find one near you. If you have questions about health insurance, financial assistance to lower your payments or the Health Insurance Marketplace, check out GetCoveredFlorida.com.