Apollo Insurance Group works hard to find the best providers of reliable health insurance in Oklahoma. Oklahoma uses the federal Marketplace for ACA/Obamacare plans. Our agents work with all the major carriers operating in the state, plus many more.
Health insurance in Oklahoma is rapidly changing, but Apollo is keeping up. The basics of Oklahoma health insurance are below; for a more in-depth look, call us now at (405) 724-3632.
Quick Facts about Health Insurance in Oklahoma
- Oklahoma uses the federal Marketplace as its ACA Exchange
- Open Enrollment for On-Exchange plans will be from November 1, 2022 – December 15, 2022.
- Off-Exchange plans can be purchased at any time.
- Apollo Insurance Group can help broker plans from 17 different carriers.
When to Enroll in Oklahoma Health Insurance
The timing for enrollment in Oklahoma depends on the type of health insurance being enrolled. For On-Exchange health insurance (also known as ACA, Marketplace, and Obamacare), most people can only enroll during Open Enrollment. Open Enrollment is the time of the year when everyone on a Marketplace health plan is allowed to freely change their insurance plan. Outside of Open Enrollment, you need to experience a qualifying life event in order to change your ACA insurance plan.
Plans that are not purchased through the Marketplace can be purchased at any time, with some carrier-specific exceptions.
How to Enroll for Health Insurance in Oklahoma
To enroll in a health insurance plan in Oklahoma, contact us now. We will work with you to find the best plan for your budget and needs. Alternatively, call us now at one of the numbers below:
- Call us in Oklahoma City: (405) 724-3632
- Call us in Tulsa: (539) 242-3303
Health insurance in the United States is a complicated beast, and Oklahoma is no exception. Let one of the experts at Apollo Insurance Group guide you.
This is just a brief overview of health insurance in Oklahoma. For a more in-depth breakdown, read our article on individual health insurance.
Average Cost of Health Insurance in Oklahoma
The cost of health insurance in Oklahoma varies depending on the type of coverage you are looking for. The average monthly cost of health insurance for an individual in Oklahoma is $370, while the average monthly cost of health insurance for a family of four is $1,368. However, these costs can vary significantly depending on the type of coverage you select and the health insurance company you choose. It is important to shop around and compare rates before selecting a health insurance plan to ensure that you are getting the best value for your money.
Oklahoma Health Insurance – Find a Plan That’s Right For You
Here’s What You Need to Know about Health Insurance in Oklahoma
Average cost of health insurance in Oklahoma
The average cost of health insurance in Oklahoma is around $6,411 per person and $25,643 per family, a bit under the national average. However, health insurance costs can vary widely, especially depending on the type of plan and the population insured. For example, a 26-year-old male can expect to pay $459 a month for a Silver plan, whereas a 60-year-old man can expect to pay $1,215 per month for a Bronze plan.
If you do not have employer-sponsored health insurance, you can purchase a private health insurance plan on the Oklahoma insurance exchange. You can choose from among the eight insurers that offer health plans in the state. Some plans can cost as low as $0 a month after federal assistance. However, you should be aware that these policies are only available to individuals.
If you’re in a situation where you cannot afford full-coverage health insurance, consider purchasing a short-term health insurance policy in Oklahoma, with a maximum one-year duration. These policies can be renewed up to two times, or even three times with one insurance company. However, the ACA limits the factors that insurers can consider when pricing a policy. These restrictions can include a person’s gender and pre-existing conditions.
One factor to consider is deductibles. Depending on your insurance plan, you may need to pay a deductible before the insurer begins paying out. This will increase your out-of-pocket costs if you make a claim. Therefore, it’s important to compare plans before signing up for one.
Another factor that influences health insurance costs in Oklahoma is the type of insurance coverage you choose. A 35-year-old self-employed family will pay about $88,000 each month after taxes and insurance premiums. While the premiums may seem high, it will help you to know the options and compare prices. Whether you need coverage for yourself or your family, it is important to find a health insurance plan that offers you a good balance between health coverage and affordability.
The federal exchange offers three types of plans. Each has different benefits and drawbacks. Health Maintenance Organization (HMO) plans offer lower premiums, but can be limited in who you can see. Moreover, you must see your primary care provider before you can see a specialist. However, some HMO plans allow you to see providers outside the network.
For those who are willing to pay higher premiums, a Platinum plan is worth considering. These plans pay for medical expenses, including routine checkups and wellness visits. However, a Platinum plan can cost up to $1,610 per month for a family. However, if you are able to afford it, the premiums will be lower than the average cost of Bronze and Silver plans.
Types of health insurance plans in Oklahoma
There are several different types of health insurance plans available in Oklahoma. The most common are HMOs, PPOs, and EPOs. They cover various costs, including doctor office visits, prescription drugs, and preventative care. There are also different tiers of coverage, from bronze to platinum. Bronze plans cover the least, while platinum plans cover up to 90% of costs. Some plans may also cover pre-existing conditions.
When comparing different types of health insurance plans in Oklahoma, it is important to understand what each plan offers. For instance, low-cost plans are great for individuals who do not have extensive medical needs. However, Gold plans may be more beneficial for people with higher medical costs. These plans generally have lower deductibles and higher coverage. Premiums and cost-sharing vary by metal tier, so it’s important to understand what the best option is for you. The table below lists the most affordable monthly premiums in each metal tier.
The Silver tier offers lower out-of-pocket costs than Bronze and Gold plans. Silver plans also have lower monthly premiums than Gold plans. Additionally, if you’re low-income, you can apply for cost-sharing reduction subsidies to lower your monthly premiums. Silver plans cover approximately 70% of medical expenses, and with CSR subsidies, you could get as much as 94% coverage.
Individuals and employers can choose between different types of health insurance plans in Oklahoma. These plans are regulated by the state and federal governments. Employer groups must also provide minimum coverage for their employees or face monthly penalties. Employers with more than 50 employees are required to provide this minimum coverage. However, those with less than 50 employees do not need to provide it. Another option for employers is defined contribution plans. With these plans, employers can provide health benefits without offering traditional group health insurance. These plans distribute tax-deductible monthly allowances to employees. These funds can be used for private health insurance and other medical expenses.
The best plan for you depends on your budget and health needs. A network plan will give you access to your preferred doctor. If not, you can select a PPO plan, which will allow you to visit out-of-network providers for cheaper care. Some plans also offer preventive care services, including annual exams and screenings. Lastly, a family health plan will include pediatric care.
Short-term health insurance plans are also available in Oklahoma. These plans may have a one-year maximum, and you can renew them up to two times or three times with the same insurance company. Since these plans are not subject to ACA requirements, they are not considered minimum essential coverage. Additionally, they may not cover preexisting conditions.
Another type of health insurance plan in Oklahoma is a health maintenance organization, or HMO. A member pays a monthly fee, much like an insurance premium, and the plan gives them access to a wide range of health care services. Members also pay a co-payment for doctor visits, emergency room visits, and prescription drugs. HMOs also require that members use their HMO network of providers, which may include hospitals or doctors.
Oklahoma City Health Insurance
The health insurance market in Oklahoma City is made up of both private and public options. Some residents may have health insurance through their employer, while others may choose to purchase a plan through the marketplace. Medicaid and Medicare are also available for those who qualify. Regardless of the specific plan or provider, health insurance can provide vital access to medical care for Oklahoma City residents. It helps to offset the cost of routine check-ups and preventative care, as well as emergency situations. Without health insurance, individuals may be unable to afford the necessary treatment for serious health concerns, potentially leading to worsened health outcomes and increased financial strain. Choosing a health insurance plan that meets your needs can ensure that you have the coverage necessary for maintaining good health.
Contact Us To Get Affordable Health Coverage For Your Needs At No Extra Cost!