Today, there is an increase in Americans buying their own health insurance, but the process can be tough. There are ways to make sure you understand what you’re buying, and that you choose the plan that’s best for you.
You can start by confirming that you really do need to buy individual insurance. Research your eligibility for various government programs or, if you are losing coverage because of a layoff, continuing workplace benefits through the federal law known as Cobra. Once Cobra coverage runs out, insurers may be required under federal law to sell you another policy, though there’s no guarantee on the price. But different states implement this rule in different ways.
Some consumers choose plans based solely on online research. Make sure you’re actually buying insurance, not some other product such as a discount card – one key way to tell is by checking with your state regulator that the company selling the product is considered a legitimate insurer. Be very careful about limited products such as temporary insurance, which last for a set period of time, since you may not be able to renew such a plan at the end of that period.
It is best to use a broker who can guide you through the process of getting individual health insurance. Without guidance, it can be hard to fully understand the nuances of a plan and how it compares to other options.
As an independent agency, Cosmo can help you select the best individual health insurance plans in New Jersey or family coverage from a broad range of insurers catering to the individual healthcare coverage market. Cosmo has particular expertise is in the ACA individual marketplace exchanges. Our individual health insurance brokers in New Jersey have the knowledge, personal attention, and honesty, that will help you make an informed choice.