Oct 29, 2020

Is there affordable health insurance for me?

Health Insurance can be expensive. Are there options for me to get affordable plans?

Health insurance costs

Today, there are almost 30 million Americans without health insurance. That's a staggering number of people without the financial protection that health insurance provides. 

For most, being uninsured isn’t a choice they’ve made because they think it’s not worth getting covered. Not having health insurance often comes down to the cost. Health insurance can be expensive to purchase and when you have other bills to think about it may not be top priority. 

The good news is that there are tax credits available that can make the monthly cost of health insurance way more affordable. The problem is that it can be really confusing to know if you qualify or how much you could get. It can be so frustrating that many people give up and don’t bother to get coverage. 

How big is this problem? Well in each of the last 2 years, approximately 5 million Americans could have gotten health insurance without paying a single penny in monthly premiums but didn’t bother to go through with it. 

That’s right, 5 million people could get insured for $0 per month. What’s worse is millions more people could have gotten very affordable coverage but also didn’t bother. 

This is a big problem and Catch is here to help. In less than 60 seconds, we can show you what plans are available to you, and what credits you are eligible for that make your coverage more affordable.

So how do these tax credits work?

You might be thinking “great, tax credits. Let’s make health insurance even more complex”. Let’s break it down together. 

Here is how it works when you search for health insurance with Catch:

  1. Using Catch’s Health Explorer, enter some basic details about your household and estimated income next year
  2. Catch does all the heavy lifting of searching for policies available to you as well as what Advance Premium Tax Credit may be available to you 
  3. If your income is below a certain amount, you will likely qualify for some form of tax credit. Catch automatically determines this for you - check it out
  4. If you qualify for a tax credit, it will automatically be applied to your monthly insurance cost, so you only pay the remaining amount, which could be $0 per month!

That’s it! We make it super simple to see all the plans available to you as well as to see what monthly cost you’ll pay with any tax credit you qualify for. 

How else can I get affordable health insurance?

Even if your monthly premiums can be made more affordable, using your health insurance can be expensive too. Deductibles, copayments and coinsurance can all add up, making your health insurance expensive to use. 

Luckily, you may also qualify for Cost Sharing Reductions (CSR’s), also known as “Extra Savings” 

When you apply for health insurance with Catch, you will enter information about your household and your expected income. If your income is below a certain level, you may qualify for Cost Sharing Reductions (CSR’s) or “Extra Savings” on certain plans. Catch automatically calculates this for you - check it out

If you pick one of these plans with extra savings, you will automatically receive extra savings on your plans deductibles, coinsurance and copayments. This can make using your plan much more affordable. 

See what you qualify for below!

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