Health insurance is a very important asset these days. All those people who were not in favor of getting a health insurance plan few years back are opting to invest in suitable health insurance plans these days. There is not one particular type of health insurance; many different types of health insurance plans are available in the market. If you are a single person then you can go for individual health insurance plan or group health insurance plans are also available in the market for your employees.
Most of the people feel uncomfortable while investing in any particular health insurance plan because they think that the face costs of these plans are less but real costs get out of budget once you start investing in them on regular basis. Health insurance calculator is the latest remedy in the market that is going to provide you with accurate estimate of the health insurance costs that are going to incur in your desired health insurance plan.
What is health insurance calculator?
Health insurance calculators are the free calculators available on different websites that are going to provide you with correct estimates of the premium costs that are going to incur once you will get a particular health insurance plan. These calculators are also going to provide you with correct estimates of different subsidies that you can receive based on your income. If you want to apply for any subsidy under Medicaid then these calculators are going to prove very helpful to you. In order to get the correct estimate from these calculators you need to enter certain particulars in these calculators including:
- Family members
- Estimates budget of health insurance
But the thing that you must keep in mind is that these calculators are only going to provide you with rough estimates. When you will practically apply for the health insurance plans ir any subsidies the actual amount can be same or it might vary a bit.
Types of calculators
There are four types of different health insurance calculators available on different websites including:
- eHealth Inc.
This health insurance calculator is perfect for you if you want to find out the eligibility for premium tax credit. This eligibility is based on the base of monthly income and number of dependant family members.
The method is to enter the required information in this calculator and it will provide you with the desired results. The special thing about this calculator is that it will even calculate the penalty for you if you will remain uninsured.
This calculator is also used to calculate the eligibility for premium tax credit. Introduced by the SHOUTAmerica , a non-profit organization, this calculator is very beneficial for all those who also want to learn about various health insurance options.
GoHealth is another effective health insurance calculator used for calculation of tax credit and premium that are expected to incur. You need to enter the following particulars for the calculation through this calculator:
- Zip code
- Number of family members
- Subsidy calculator for The Henry J. Kaiser family foundation
This calculator will tell you about your eligibility for the Medicaid after you enter the desired information.