Not all cheap health insurance plans in Madison, WI are a good option for everyone.

Finding Good Cheap Health Insurance Plans in WI Depends on Your Unique Needs

Health insurance plans in Wisconsin (WI) may help save you money if you have an accident or get sick. The question is, which is the cheapest type of health insurance plan for you? Usually, people think that the cheapest insurance are the plans with the lowest premiums. While the premiums may be cheap, these plans typically have higher out-of-pocket costs. It’s important to look at both premiums and out-of-pocket costs when choosing a plan.


Here are three examples that show how finding a good cheap health insurance plan in WI depends on your unique needs.

 

Example #1 – John

  • Age – 50
  • Location – Central Wisconsin
  • Type of Plan Needed – Individual Health Plan
  • Looking for – An insurance plan at an affordable price that includes his doctor in the network
  • Health Status – Pretty good health – his knees bother him, takes medication to control his blood pressure and has been told to lose weight because he's pre-diabetic

What should John do?

In John's case, a good health insurance plan may not be the one with the cheapest premium. He takes regular medication, goes to the doctor often and may need therapy or even surgery on his knees. He may also benefit from a weight management program. That means that he may end up paying a lot of out-of-pocket costs if he gets a health insurance plan with a cheap premium but has to pay a larger share of the cost if he needs health care.


The more affordable health insurance option for John may be a gold or platinum plan. These plans generally have higher premiums but offer lower out-of-pocket costs for medication, doctor visits and surgeries. They also may provide robust wellness programs that can reward John for taking part in weight management activities.

Example #2 – Sara

  • Age – 30 (Husband: age 32, Daughters: ages 12 and nine)
  • Location – Madison
  • Type of Plan Needed – Family Health Plan
  • Annual Household Income – $50,000
  • Looking for – An insurance plan at an affordable price that includes good coverage for children and supports an active lifestyle
  • Health Status – Everyone is healthy and involved in a range of sporting activities

What should Sara do?

Sara’s first step may be to see if she’s eligible for subsidies by going to healthcare.gov or by contacting Unity Health Insurance. Her family may even be eligible for BadgerCare Plus or other assistance.


If she’s not eligible for subsidies or other assistance, a cheap health insurance plan that is good for her and her family may be a Gold plan with higher premiums but lower out-of-pocket costs. Although the family is healthy and active, they may be at risk for accidental injuries. Two children may mean a lot of doctor visits. A Unity Gold plan offers more robust coverage, plus all Unity plans offer the advantage of wellness programs that this active family may enjoy. With Unity’s Fitness FirstSM & More program, both the kids and the parents can earn rewards for their active lifestyle.

Example #3 – Dave

  • Age – 26
  • Location – Southwest Wisconsin
  • Type of Plan Needed – Individual Health Plan
  • Looking for – The cheapest possible coverage
  • Health Status – Excellent health

What should Dave do?

Because Dave is 26, the typical age cutoff for Dependent Health Coverage, he can no longer be covered under his parents’ health insurance and must find his own health insurance coverage. According to the Affordable Care Act, he may be liable to pay a fee if he doesn’t get insurance within 60 days of becoming uninsured.


Fortunately, because Dave is younger than 30, he’s eligible to buy a catastrophic plan, which may be a good and cheap health insurance alternative for him. The premiums for a catastrophic plan usually rank amongst the cheapest of all plans. However, catastrophic plans generally require you to pay all of your medical costs up to a certain amount, usually several thousand dollars.  One benefit of a catastrophic plan is that it covers Dave’s first three doctor visits of the year without Dave paying anything out of pocket.


As soon as Dave turns 30, he will have to find another type of insurance plan that meets his needs, unless he is eligible for a hardship exemption that may allow him to keep his catastrophic coverage.


Finding a cheap health insurance plan in WI that meets your needs depends on your personal unique situation. Contact Unity today for helpful, straightforward information about the right kind of health insurance plan for you.