Health insurance, explained

No. That's the part most people don't know. Government marketplace plans are locked to a yearly window, but health-based private plans are available all twelve months of the year. If you're in good health and you qualify, you can apply and be approved whenever you want — no life event, no special circumstance, no waiting until winter.

Open enrollment runs November through January. Coverage bought in that window generally starts January 1. It only comes around once a year, and once it closes, you normally can't buy a marketplace plan until it reopens — unless something major changes in your life, or you go the private-plan route above.

Your premium is what you pay every month to hold the plan. Your deductible is what you pay out of pocket before the plan starts sharing costs. Your out-of-pocket maximum is the ceiling — once you've paid that much in a year, the plan covers the rest. A low monthly payment often means a higher deductible, so the right balance depends on how much care you expect to use.

I don't work for one insurance company. I place business with several carriers, so the recommendation you get is based on what fits your situation, not on who pays my salary. There's no fee or hourly charge for my help — carriers pay a commission when a plan is placed, and that doesn't add to your premium.