Note: This is StretchDollar's take. Consult a broker for complicated health questions.
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.
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)
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
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.
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:
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
Shopping on the marketplace offers you the advantage of choice. The marketplace in Houston has 120+ plans from eight different health insurance carriers.
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.
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.
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.
