Q How much health insurance do I need?
Health insurance coverage isn’t sold in an amount, like car and home insurance policies. The Affordable Care Act stops insurance companies from limiting coverage expenses, so no lifetime limits can be set for essential health benefits for any plan. Additionally, for policies that start after January 1, 2014, no yearly benefit limits can apply for essential health benefits.
If you’re in good health, choosing a high-deductible plan can reduce your monthly premium and save you money. Additionally, having a high-deductible plan makes you eligible to contribute to a tax-favored health savings account. But if you have a chronic health condition or visit the doctor frequently, having a low deductible may be more beneficial.