Why Trust Us

Investopedia’s researchers, editors, and writers make recommendations using methodical and objective data analysis. Our advice is unbiased and consumer-focused. While we may receive compensation if you click certain links, our advertising partnerships don’t🌄 influence how products are reviewed, though they may affect their order. Investopedia launched in 199 and has helped readers find the best health insurance companies since 2019.

How Does Health Insurance Work?

People may be eligible for insurance through their employer or a federal program such as 澳洲幸运5官方开奖结果体彩网:Medicaid or Medicare. However, if you don’t have access to insurance through your employer, your spouse’s employer, or a federal program, you may consider purchasing an insurance plan through the 澳洲幸运5官方开奖结果体彩网:ACA insurance marketplace. 

In Texas, the health🎀 insurance marketplace is facilitated and run by the federal government, which means that residents of the state can shop for and enroll in health insurance coverage through HealthCare.gov. 

You can sign up for a new plan during 澳洲幸运5官方开奖结果体彩网:open enrollment, which runs from November 1 through January 15 every year. However, some people may be eligible to enroll for a new plan at another time if they’ve experienced a 澳洲幸运5官方开奖结果体彩网:qualifying event, such as the birth of a child or loss of a job.

Because of the 澳洲幸运5官方开奖结果体彩网:Affordable Care Act (ACA), all insurance plans available on the exchange are 𒀰required to cove🌺r certain services and goods like emergency services, prescription drugs, and pregnancy care.

When😼 determining which pl🧜an to purchase, you’ll want to consider your budget and healthcare needs. 

The 澳洲幸运5官方开奖结果体彩网:cost of plans are based on a variety of factors, such as the plan category, your age, smoking status, family size, and more. There are 澳洲幸运5官方开奖结果体彩网:four categories of plans available on the marketplace: bronze, si🍷lver, gold, and platin🧜um. Bronze plans are typically the most affordable and have the highest deductible while platinum plans are the priciest and have the lowest deductible.

S🐷o if you’re young and healthy, you might consider opting for a bronze plan, as your healthcare needs are probably low and you may only need coverage if an emergency occurs. Furthermore, some people enrolling in insurance plans on the exchange may be eligible for financial assistance. 

Financial assistance for marketplace plans come in two forms, the premium tax credit and the 澳洲幸运5官方开奖结果体彩网:cost sharing reduction. The 澳洲幸运5官方开奖结果体彩网:premium tax credit can help reduce your monthly premiums while the cos💮t sharing reduction can reduce out-of-pocket expenses.

♑Eligibility for financial assistance depends on 🍨such factors as your income and eligibility for other types of medical coverage. 

Common Health Insurance Terms To Understand

• Out-of-pocket limit: The 澳洲幸运5官方开奖结果体彩网:out-of-pocket limit is the maximum amount you pay for covered medical services in a year. After you hit the limit, your insurance will pay for 100% of covered services. The premiums you pay are not counted towards the out-of-pocket limit. For 2025, the annual out-of-pocket limit for plans purchased off the exchange is $9,200 for self-only coverage and $18,400 for family coverage.
• Coinsurance: 澳洲幸运5官方开奖结果体彩网:Coinsurance refers to a percentage that you pay for covered services after you’ve reached your deductible. For example, if a plan has 10% coinsurance and a $2,000 deductible, this means that after you’ve spent at least $2,000, you’d pay for 10% of the total cost until you hit the out-of-pocket limit. 
• Premiums: The premium is the amount you pay for your health insurance plan every month.
• Deductible: This is the amount you have to pay for covered services before your insurance starts paying for part of the costs. For example, if the deductible is $2,500 for your plan year, you’ll have to spend at least $2,500 before your insurance starts sharing the cost.
• Copayment: A copay is a fixed fee you pay for a covered healthcare service, such as a visit to a specialist. Copays typically do not count towards your deductible, so you’ll still have to pay them even after you’ve hit the deductible. However, you usually won’t have a co-pay after you’ve hit your out-of-pocket limit.
• High deductible health plan (HDHP): An HDHP is a type of healthcare plan with lower premiums and a higher deductible. These plans are usually tied to a health savings account or a tax-advantaged account for medical expenses. In 2025, HSA-eligible plans must have an annual deductible of $1,650 or more for self-only coverage and $3,300 or more for family coverage.
• Health savings account (HSA): A HSA is a type of account that allows people to put away pre-tax dollars for medical expenses. Plus, when HSA money is used for qualified healthcare expenses, it’s not taxed. 
• Exclusive provider organization (EPO): With an EPO, you’re restricted to doctors and specialists within your network, unless it’s for emergency care. EPOs typically have larger networks than HMOs. Depending on the plan, a primary care physician referral may be required to see a specialist.
• Health maintenance organization (HMO): With an HMO, you’re limited to using providers within a local network, and your out-of-network services are only covered if they’re for emergency care. Plus, in order to see a specialist, you’ll need a referral from your primary care physician.
• Preferred provider organization (PPO): A PPO typically has higher premiums than an HMO but offers greater flexibility, as they allow you to see specialists without a referral. Out-of-network providers are covered though they may cost more.
• Point of service (POS): Like an HMO, these types of plans require you to get a referral from your primary care physician to see a specialist. With a POS plan, you can see out-of-network providers, but it may come at a higher cost.
  

How We Chose the Best Health 🐭Insurance Companies in Texas

In🔯vestopedia’s rankings of the best health insurance companies in Texas are based on our independent research into nine providers offering plans through federal and state marketplaces. We evaluated costs, customer satisfaction, plan benefits, and medical manage♔ment programs. 

We analyzed market share, enrollment trends, and availability to select the nine companies in our review. Investopedia’s research for this ranking was conducted from Oct. 24 to Nov. 8, 2024. We collected data from HealthCare.gov, state marketplaces, the National Association of Insurance Commissioners, and directly from eac🍸h company.

After verifying this data with primary sources, we used it to create oꦏur scoring model to evaluate each company, based on the follo🅰wing weights:

• Federal Marketplace Cost Data: 52%
• Customer Satisfaction: 23%
• Plan Types: 16%
• Medical Management Programs: 6%
• Plan Benefits: 3%

Read our 澳洲幸运5官方开奖结果体彩网:full methodology for reviewing health insurance providers.