Health

Health Insurance

HEALTH INSURANCE

Understanding health insurance doesn’t have to be complicated, whether you get it from your employer, buy it on your own through Marketplace or direct from a carrier. Simply contact your local Farmers Union Agent and we can help you find affordable, high-quality health insurance in North Dakota.

Health Insurance 101

Group health insurance policy – A coverage plan offered by an employer or other organization that covers the individuals in that group and their dependents under a single policy.

Individual health insurance – Health insurance plans purchased by individuals to cover themselves and their families. These are different from group plans, which are offered by employers to cover all their employees.

Short Term Health Insurance Plans – A temporary solution for individuals and families facing a period of time without the protection of a major medical plan. With a range of deductibles and coinsurance, there are several options to help protect your family.

Tele Medicine – You can talk to board-certified doctors via phone or video call 24/7. You can request a visit on-demand or schedule it for a schedule that works best for you. Use it at home, work, or while traveling. Doctors can even prescribe medication when necessary.

Health savings account (HSA) – A personal savings account that allows participants to pay for medical expenses with pre-tax dollars. It’s designed to complement a special type of health insurance in North Dakota called an HSA-qualified high-deductible health plan (HDHP). HDHPs typically offer lower monthly premiums than traditional health plans. With an HSA-qualified HDHP, members can take the money they save on premiums and invest it in the HSA to pay for future qualified medical expenses.

Health Insurance Terms

  • Deductible: The amount you owe for covered health-care services before your health insurance or plan begins to pay.
  • Copayment: An amount you pay as your share of the cost for a medical service or item, like a doctor’s visit.
  • Coinsurance: Your share of the cost for a covered health-care service, usually calculated as a percentage (like 20%) of the allowed amount for the service.
  • Premium: The amount you pay for your health insurance in North Dakota each month.
  • Network: The doctors, hospitals, and suppliers your health insurer has contracted with to deliver health-care services to their members.
  • Best Medicare Supplement Plans: Provided by private insurance companies to pay for healthcare costs that Medicare does not cover such as deductibles, copayments, and coinsurance.

Let us show you how to save on your monthly insurance premium with tax credits

You can apply some or all this tax credit to your monthly insurance premium payment. The Marketplace will send your tax credit directly to your health insurance company, so you’ll pay less each month. This is called taking an advance payment of the premium tax credit

Let us show how to lower your out-of-pocket expenses with a cost-share reduction.

If you qualify for savings on out-of-pocket costs and enroll in a Silver plan:

  • You’ll have a lower deductible.
  • You’ll have lower copayments or coinsurance
  • You’ll have a lower “out-of-pocket” maximum