Note: This is StretchDollar's take. Consult a broker for complicated health questions.
How to find affordable health insurance (for you and your small business employees)
The marketplace, also known as a health insurance exchange, allows individuals and families to shop for health insurance. Established by the federal government, it mandates that listed health plans provide comprehensive benefits.
In 2019, the government introduced ICHRA (Individual Health Reimbursement Arrangement), a unique way for small businesses to offer health benefits. Through ICHRA, business owners can give pre-tax money to employees for purchasing their own health plans from the marketplace. More employees than ever before are shopping the marketplace. Let's explore the options.
Best health plans in Houston — StretchDollar’s picks
Health insurance options vary based on where you live. Good news for folks in Houston, Texas - you have plenty of health insurance plans to choose from! Here are some of our favorites, picked for their cost and network coverage.
Best if you like telemedicine + $0 deductibles.
Oscar’s Bronze Elite + PCP Saver Plus
Best plan for the young and healthy.
MyBlue Health Bronze℠ 806
Best general all-around option for the price and network.
UHC Kelsey-Seybold Bronze Copay Focus ($0 Insulin)
Lowest-cost plans (worth the money) in Houston
If price is a concern, here are some of the most cost-effective health plans available in Houston, Texas.
*Based on 30-year-old male
Best mental health coverage in Houston
Mental health coverage varies among health plans. If this type of support is a priority for you, explore these health plans more closely.
Note: If you have a particular therapist you love (and we hope you do), we recommend double checking with them that they accept these plans before purchasing one.
Carriers in Houston that take credit cards
If you're interested in stacking up credit card reward points while paying for health insurance premiums, you're in luck. Here are some health insurance carriers in Houston, Texas that let you pay with a credit card:
- Aetna CVS Health
- Ambetter from Superior HealthPlan
- Blue Cross and Blue Shield of Texas
- Community Health Choice
- Molina Marketplace
- UnitedHealthcare
Favorite perks — StretchDollar’s picks
Some health plans come with a few extra perks on top of the usual coverage. Here are a few that stand out.
An app you’ll actually use with integrated telemedicine
A $3 prescription medicine program
Super low cost fitness access
Insurance carriers in Houston, Texas
Shopping on the marketplace offers you the advantage of choice. The marketplace in Houston has 120+ plans from eight different health insurance carriers.
- Aetna CVS Health
- Ambetter from Superior HealthPlan
- Blue Cross and Blue Shield of Texas
- Community Health Choice
- Imperial Insurance Companies, Inc.
- Molina Marketplace
- Oscar
- UnitedHealthcare
Understanding health insurance
Health insurance has a lot of terms and jargon that are important to know. Here’s some of the main ones you’ll come across. You can find more here.
EPO
A type of health insurance plan that requires you to choose a primary care physician, but allows you to see specialists without a referral. These types of plans tend to be higher in cost than HMOs and lower in cost than PPOs.
POS
A type of health plan that allows members to select in-network and out-of-network providers, with higher costs for providers outside the network. These plans tend to cost higher than HMOs and EPOs.
Deductible
A deductible is the amount you have to pay out of pocket before your insurance coverage kicks in. For example, if you have a $1,000 deductible, you'll have to pay the first $1,000 of your medical expenses before your insurance will start covering your costs. Usually, the higher your deductible, the lower your premium.
Out-of-pocket max
Your out-of-pocket maximum is the most you'll ever have to pay for covered medical expenses in a year. Once you hit this limit, your insurance will take care of any extra eligible medical costs.
When to get help finding a health plan
Seeing out-of-network doctors or taking medicines that aren’t covered by your health plan can become quite costly. If you have complicated health needs or take specialty medicines, you should consult a broker to make sure your doctors and prescriptions are covered.
Why more small businesses are choosing ICHRAs
Health insurance is complicated and costly, especially for small businesses. High participation rates and contribution requirements make it out of reach for many. Not to mention, traditional group health insurance plans often require 60+ hours of administrative work. That’s where ICHRA comes in. Small business owners finally can control their benefits budget and setup takes just ten minutes. Learn more.
StretchDollar’s guide to the best small business health insurance in Texas. Learn more about employee health coverage options for SMBs and startups with this guide.
Health insurance guides in other Texas cities
FAQ
What is the cheapest health plan in Tampa, Florida?
One of the cheapest plans in Tampa, Florida is the Ambetter Standard Expanded Bronze - HMO plan which is $332/month for a 30-year-old male.
What types of health plans are available in Tampa, Florida?
Florida offers four types of plans: HMO, EPO, PPO and POS.
Are there any PPO health plans in Tampa, Florida?
Yes, there are PPO plans available in the marketplace in Tampa, Florida.
How do premium tax credits work?
Premium tax credits, also known as premium subsidies, are financial assistance provided by the government to help individuals and families afford health insurance coverage. The premium tax credits are available to those who purchase their health insurance through the marketplace.
The amount of premium tax credit a person may receive is based on their household income, the total number of dependents, and the cost of health insurance premiums in their area. This means that those with lower incomes may be eligible for a larger tax credit, while those with higher incomes may receive a smaller amount or may not be eligible at all.