Health insurance: you’re screwed with it, and really screwed without it. This year we’re in for an extra treat, because premiums are set to increase by record amounts. Want a fighting chance at getting insurance you can afford? Here’s what you need to know.




First, Don’t Panic


The headlines may look dire, but that doesn’t mean your situation is necessarily going to get worse. The reported 25 percent increase in premiums is an average across certain plans in certain states. The premium you personally pay may not increase that much—and if it does, you may still be able to choose a cheaper plan. According to a report by the Department of Health and Human Services, 77 percent of people who currently have a plan through the government’s Health Insurance Marketplace—in other words, through the exchanges at healthcare.gov—will be able to find a plan in 2017 that is under $100 per month.

Here’s more good news: If you qualify for an advance premium tax credit (the form of subsidy that makes your premiums cheaper) you may not notice much of an increase at all, since the credit soaks up the difference. If you weren’t eligible for a credit last year, the rising premiums may mean you are eligible now.

If that sounds tricky, use this quick tool from healthcare.gov to find out whether you qualify for lowered premiums, other forms of cost sharing, or Medicaid. The answer will depend on what state you live in, how many people are in your family, and your expected income for 2017. For example, individuals should be able to get lowered premiums if their income is below $46,680 and a family of four is eligible if their combined income is under $95,400.

Always Shop Around

Don’t just automatically re-up with whatever insurance plan you had last year. Always check out your options, since there may be something better out there. If your insurance comes through your employer, they’ll let you know your options; otherwise, take a look at the Marketplace.


About 2.5 million people forgot to shop around last year, buying a full-price plan on their own when they were eligible for subsidies on the Marketplace. Even if you think you’ve found a good deal, do yourself a favor and double check that it’s really your best option.

If you have coverage through your job, or through another source like Medicare or Medicaid, you won’t be eligible for the subsidies that make Marketplace coverage so cheap for some folks. But if your job’s coverage is very expensive, it’s possible that you’ll find a better deal on the Marketplace even if you have to pay full price.


Open enrollment for plans on the exchanges begins November 1, and continues through January 31 of next year. Right now, the website offers previews so you can browse plans and do some comparison shopping. Don’t forget that you’ll need to sign up by December 15 if you want your coverage to start January 1—but if you change your mind or find a better plan, you are still free to switch before the end of January.

Avoid the Usual Traps

Insurance shopping is always tough. We’ve told you before about the trickiest traps to avoid, and that advice still applies. In short:


Don’t overlook high deductible plans ; they are often cheaper in the long run, and you can mitigate their wallet-busting potential by creating a Health Savings Account

; they are often cheaper in the long run, and you can mitigate their wallet-busting potential by creating a Check out your plan’s network , especially if you are likely to visit a specialist. Some plans have outdated or inaccurate provider listings, so actually call around to make sure you can find a few who exist and are taking new patients.

, especially if you are likely to visit a specialist. Some plans have outdated or inaccurate provider listings, so actually call around to make sure you can find a few who exist and are taking new patients. Don’t decide you’re better off without insurance; you’re not. The penalty for going without insurance will probably be more expensive grandfathered free preventive care


Avoid These Traps When Shopping for Health Insurance Health insurance is tricky to shop for. You pay a ton of money just to try to stay healthy, and if… Read more

Shopping for insurance is never fun, but if you educate yourself and explore your options, it doesn’t have to be a hopeless pit of despair. The right plan for you is out there somewhere.


Illustration by Sam Woolley.