Top 10 places to Find Affordable Health Insurance

When the cost of medical care rises each year together with the onset of new, deadly diseases, it is only smart to know how you can find affordable health insurance that will give you the best protection for your money. With health care reforms on the way, each American can only hope for the best health care services at the best possible health insurance cost that they can afford. Whether you are getting a health insurance from your employer, or funding it yourself, to find affordable health insurance that’s worth every dime you save is something truly priceless.

Statistics show that nearly half of the population in the US alone are uninsured. With the rising trend in unemployment, foreclosures, and company shutdowns, to find an affordable health insurance may be the least of priorities many people have. Know that having a health insurance can cost you money but having none can cost you more. No one wants accidents, injuries, and sickness to happen – but they really do. The last thing you want is to be pushed over the edge of bankruptcy and emotional damage when these things happen.

Where to Find the Most Affordable Health Insurance?

1. COBRA ( Consolidated Omnibus Budget Reconciliation Act ) is great for those who are unemployed and would want to continue their health insurance with their previous employer. College students may also partake their parents’ health insurance policy through COBRA. Although this works perfectly well for the unemployed needing medical and financial help, the premiums can be higher than the rest.

2. MEDICAID is made for those who are in the lower-income bracket and each state has various eligibility rules to follow. If you have a work, but you can’t get a decent health insurance policy, you may have your kids enrolled for a Medicaid program. You may not qualify now, but don’t give up just yet. Since regulations changes time and again, you can always qualify in the future.

3. MEDICARE is a health insurance created by the federal government and managed by the Social Security Administration. People who are 65 years old or older, and those who are receiving disability benefits from their Social Security may qualify.

4. Worker’s Compensation Insurance covers all workers in each state and those who suffered work-related injuries may qualify for treatments under this program.

5, Individual or family health insurance can be bought from many private insurance service providers. This will be more expensive than your employer’s or government’s health insurance since you don’t get group discounts. The advantage of this type of health insurance is you can choose the type of coverage you will be getting when the time comes and the major drawback is having to undergo medical exams and declaring any pre-existing conditions which will not be covered by your premium.

6. State High Risk Health Insurance Pool are for those who have been rejected by individual or family health insurance firms due to pre-existing conditions. It may not be affordable for some, but you can at least have your pre-existing conditions covered if ever you are not eligible for a COBRA.

7. Group Insurance are often overlooked, specially by those who are members of a certain organization. You will still be paying full for your insurance premium, unlike the premiums paid by an employer, but you will get group discounts and lower costs on your policy. Freelancers and self-employed individuals will benefit from this type of health insurance, where members can enjoy discounted rates in a group.

8. High Deductible Health Insurance is becoming the latest trend in having a health insurance where premiums are lower because deductibles on medical care are higher, making it an affordable option for everyone.

9. Short Term Health Insurance is great for those who don’t have permanent jobs and steady stream of income. You will only be covered for a certain amount to keep your insurance premium lower. This is also a great option for people who want quick coverage than what their individual or family health policies have to offer.

10. Discount Health Cards are great for getting health services at a lower price than the regular rate. You will only pay a small monthly premium for your membership card to get discounts on your doctor’s visits, consultations, and hospital services. This option is great for minor medical issues.

It is truly important to shop around for the best deal in town and find affordable health insurance that truly speaks for your needs. Comparing plans can be very tough and you need to check each benefit and cost very closely. Don’t fall for the trap that a low premium means the cheapest of all. What your insurance coverage is must justify its cost. There are just too many loopholes in an insurance policy and sometimes, it truly pays to pay more. Before you even sign a deal, make sure you have made your research on the health insurance provider of your choice, and that you read your fine print very well. It truly pays to be a smart shopper!

RESOURCES:

CNN Money.com. “ Lesson16: Health Insurance – Top Things to Know. “ 2009.
http://money.cnn.com/magazines/moneymag/money101/lesson16/

Sage, Bobbie. “ Help! I Need Affordable Health Insurance. “ 2009. About.com.

http://personalinsure.about.com/od/health/tp/affordablehealthinsurance.htm

Bihari, Michael. “ Health Insurance: Tips for Saving Money. “ 2009. About.com.
http://healthinsurance.about.com/od/healthinsurancebasics/a/insurance_money_saving_tips.htm