You may have had health insurance for a long time, you may be covered under your parents’ plan, you may get it through Medicaid or Medicare, or maybe you don’t have it. But what is health insurance?
Here are some of the more common terms you may find in your health insurance plan – https://www.cms.gov/CCIIO/Resources/Files/Downloads/uniform-glossary-final.pdf
Most of the time, if you can get a health insurance plan through your employer, that will be a better deal than getting it on your own. What should you look for when trying to select a plan? http://guides.wsj.com/personal-finance/insurance/how-to-shop-for-health-insurance/. Consider a few things as well – do you have a known chronic condition? What is your budget for healthcare? Are you generally healthy and don’t visit the doctor often?
You may be eligible for a plan through Medicaid or Medicare (if you are over 65 years of age).
You may also decide to shop for a plan through the marketplace established by the Affordable Care Act – the New York State marketplace is here. Some information for young adults and about the essential plan can be found on the site.
Healthcare costs in the US are very high, usually much too high for an individual to afford. This video explains some reasons why.
