ACA, otherwise known as the Affordable Care Act, was created in March 2010.

ACA/Obamacare is a major medical coverage geared to the public to help those with pre-existing conditions. It’s a guarantee you will be accepted. As well, depending on income and family size, there are government subsidies that lessen the cost of the monthly premiums. Be cautious, though, as deductibles and out-of-pocket maximums typically remain high.

If you don’t qualify for a subsidy and are left to pay the full cost of the monthly premium, those costs are very expensive, and this is when it makes sense to look for options to compare costs and search for usable benefits.

Private health insurance refers to any health insurance coverage that’s offered by a private entity instead of a state or federal government, like Medicaid and Medicare coverage plans.

Private insurance plans have the most flexibility and can be geared towards your budget and the type of benefits you want. They can be purchased during the course of the year and aren’t subject to any SEP (special enrollment periods).

A good solution may be a medically underwritten insurance plan. This type of plan puts you in a pool of people that also don’t have high risk medical conditions, but desire financial protection. Insurance is (theoretically) paid for in dollars, but think of this as being paid for by your good health.

That is only for ACA/Obamacare and government plans. Other health insurance is available year-round and is effective policy year, not calendar year.

Nationwide coverage on and off the job, called PPO plans, aren’t limited to coverage in your zip code/county and are good options.

EPO (Exclusive Provider Organization): A managed care plan where services are covered only if you use doctors, specialists, or hospitals in the plan’s network (except in an emergency). These are the most limiting of plans.

HMO (Health Maintenance Organization): A type of plan that usually limits coverage to receive care from doctors who work for, or contract with, the HMO. It generally won’t cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage.

PPO (Preferred Provider Organization): A type of plan that usually covers some of the cost of out-of-network providers (but not as much as for in-network providers), and doesn't require a doctor’s referral to see specialists. This type of plan gives you nationwide coverage and freedom to choose doctors and hospitals.

Unlike Obamacare, which are guaranteed issue plans, medical underwriting refers to the process by which an insurer uses an applicant’s medical history to decide whether they will offer the applicant a policy.

Medically underwritten plans are excellent alternatives for individuals and families who would be considered “low risk,” as these types of plans factor in applicants’ medical history.

Just as in auto insurance, premium rates are determined by risk factors. By joining a medically underwritten plan, an individual or family will be ensured of keeping premiums as low as possible.