How to Save on Health Insurance in Texas
Health Insurance benefits are determined according to the cost-sharing method. This means that after paying a deductible, you are responsible to cover a pre-set remaining portion of healthcare bills, until the maximum-of-of-pocket (MOOP) amount has been met. MOOP is the maximum amount you may have to pay for medical bills before the insurance starts covering 100% of expenses (up to the limit of the plan). Generally, the lower your MOOP, the more expensive is your coverage. If you raise the MOOP, you will save on health insurance. If you lower it, the cost will go up.
Group health coverage typically offers the best way to save money on health care. When you buy health insurance through group coverage, all offered plans cost the same (pre-negotiated) price for all members of the group. The main savings here comes from the sponsoring organization, which usually covers a portion of the premium.
The pricing of private health insurance and self employed health insurance (individual) plans depends on each individual’s set of circumstances and needs, such as: age, health conditions, tobacco-use, county of residence, income, etc.:
- Some Texas residents may qualify for additional savings through the use of tax-credits on the health marketplace or by utilizing a wide array of alternative (non ACA-compliant) health insurance options.
- Texans without pre-existing health conditions may save money on health care by buying short term health insurance, which is not as comprehensive as ACA, but it provides significant coverage in case of an emergency for a fraction of the costs of Affordable Care plans.
- Qualified Texas residents may also get low-cost health coverage through federal or state run programs like Medicaid and Medicare. Additionally, state of Texas operates several local health programs that help pay for residents’ coverage:
Keep in mind that such government-sponsored health programs may have limited coverage, so combining public and private health insurance plans may be a good idea. On private health insurance policies, choose a coverage that gives you what the public health plan cannot provide. And avoid duplicating plan coverage.
Best way to find affordable health insurance in Texas is to discuss all your questions with a state-licensed health insurance agent who has access to a wide range of Texas health insurance options. A knowledgeable Texas insurance agent can help you buy health insurance by providing multiple health insurance quotes based on your short and long-term health insurance needs.
While you have an active health insurance coverage, there are additional ways how to save on health insurance:
- Use the care providers in your network: you pay more when you use care providers outside your network plan.
- Keep hospital visits to what is necessary: if available, use the virtual consultation option. On some Texas health insurance plans Telehealth may be offered free of charge. The same applies to preventive care visits.
Speak with a health insurance agent near you to help you save money on health care.
Related Tools
Health insurance quote comparison worksheet (Printable PDF)
Medicare insurance quote comparison worksheet (Printable PDF)
Read more about ways how you can save on other Texas insurance coverage
Top Ways to Save on Insurance in Texas
How to Save Money on CAR Insurance
How to Save Money on HOME Insurance
