Health insurance plays a vital role in America. Everyone eventually has some kind of health issue that they need to take care of, and it’s not always going to be cheap. You never know when you face unexpected scenarios or when you might be involved in an accident.

That’s where getting reliable health insurance pays off. The Affordable Care Act (ACA) highly recommends this. It even goes so far as to enforce this for everyone so that no one is left without coverage. Whether you’re a teenager or an adult with a family, above or below the poverty line, you should apply for health insurance through the state exchange program.

Here’s a few factors you can take into consideration before applying for health insurance.

Monthly Premiums
Monthly premium is the amount of money or fee you pay every month towards your health insurance. If you have huge health issues, go for a higher premium. If you’re relatively healthy, go for a lower premium.

Deductibles
This is the amount of money you have to pay before the insurance company is willing to pay for you. Go for a higher deductible if you’re healthy and vice versa if you’re prone to getting sick.

Maximum Out-Of-Pocket
This is what you pay towards your own insurance out of your pocket. This is separate from deductibles and can go up to $1500.

Preventive Care Coverage
Check and see if your insurance covers preventive care and how often they cover every year. The frequency of checkups and visits can matter based on your needs.

Prescription Plan
If you take a lot of medication, go for an above-average prescription plan. You should also check whether the insurance covers the medications you’re currently using. There may some plans that don’t cater to your specific medical needs.

In-Network Vs. Out-Of-Network Coverage
In-network plans are usually cheaper and you can get them at discounted rates. Out-Of-Network plans go beyond state boundaries. This can be helpful if you travel around a lot.

Additional Things To Consider
Some other details you should consider before you decide to go for an insurance plan is your income threshold. For low income individuals, you can apply for subsidized plans through open enrollment or through the state exchange.

High-income individuals can also go for low-cost plans through state exchange. But if you have extensive health issues, an exhaustive medical coverage is recommended.

But remember that you actually do have to apply for a plan, since leaving yourself uncovered isn’t allowed under the ACA and you can be fined for that.