Although some of the places to find low-cost health insurance on this list may seem familiar, given the high number of Americans who are eligible for affordable health insurance, but are not enrolled in any program, it is important to read through the full list before making any decisions and investigate all the possibilities.
Low-Cost and Affordable Health Insurance Coverage
Affordable health insurance programs include:
Consolidated Omnibus Budget Reconciliation Act ( COBRA )
If one has been laid off or no longer working but previously insured on a group health insurance plan with a former employer, one may be eligible to continue health insurance through COBRA.
Students may also be able to continue on their parent’s health insurance. This option is particularly appealing when he/she was undergoing medical treatments with former health insurance plan, and need to find coverage that will allow him/her to continue the treatments quickly. These kinds of plans are not necessarily the most affordable, so before settling on plans, make sure to check the healthcare marketplace because affording another option is also possible.
Workers Compensation Program
The state Workers ‘ Compensation program may be able to offer some health care solutions if a member is being treated for an injury that occurred while working. This is definitely something should be looked into if one is in this situation.
A lot has changed since the Affordable Care Act, including Medicaid requirements. The number of people qualified to receive Medicaid has increased dramatically, Aside from those living below the poverty line, there are also many exceptions allowing for people with income above the poverty line to qualify. Medicaid expansion is different in each of the states, it is expedient for an individual to contact his/her state insurance commissioner to find out if his/her state participates.
Medicare is administered by the Social Security Administration.
One can qualify for Medicare if he/she gets Social Security Disability Benefits or quite over 65 years.
Health Insurance Marketplace for Pre-Existing Conditions
Since the ACA, marketplace plans cover treatment for pre-existing medical conditions, according to HealthCareGov .org :
- Individual and Family Health Insurance
There are many private insurance plans where one can get quotes for individual or family health coverage. Private plans may cost more money, so try as much as possible to check with the marketplace before settling on an independent plan. It is also possible to shop for health insurance the same way one would if looking for the best home insurance or negotiating for car insurance.
High Deductible Health Plans
Getting a high deductible ” emergency ” policy is a better way to maintain a low -cost health insurance plan and keeping a Health Savings Account for smaller health issues will probably save one’s money in the long run.
Short-Term Health Insurance Coverage
Short-term health insurance coverage is available to individuals and their families and makes for a good family health insurance choice if need be, to be covered quickly to avoid health insurance coverage gaps while searching for another option.
Group Insurance from Organization Memberships
Many organizations provide extra advantages to their members by providing health insurance group plans.
While belonging to any kind of membership organization, it is worth asking them if they have a health insurance plan. Some common groups may be alumni groups or professional organizations. These groups help provide reduced health insurance premiums for their members. Some business bureaus or independent worker associations may also offer these kinds of plans, so it is worth looking into this as an alternative to an employer-sponsored group health insurance.
Group Health Expenses Sharing Plan / Health Care Sharing Ministry (HCSM)
Health expenses sharing plan is when a group of people pool their money together and pay each others’ health care costs operating a bit like their own insurance company. These plans are not insurance plans, so they are not regulated in the same way as insurance, so it is very important to look into the history of any of these plans before joining them. Contributions by members are pooled and invested and usually are reserved to pay major medical expenses. These plans are not usually used for basic day to day health costs like checkups or small procedures.
A health care sharing ministry (HCSM) is when a group of people who share similar beliefs creates a health expenses sharing plan. An HCSM is a non-profit entity, so again, although it provides an alternative to insurance, it is not health insurance and is not regulated in the same way. These plans include provisions for the beliefs of the group, so if procedures are morally objectionable, they would not be covered under these plans. Two examples are Samaritan Ministries and Medi-Share,
Health Insurance Discount Cards
Health insurance discount cards provide low-cost health services in exchange for a membership fee. This provides discounts on medical services but is not insurance. It does not provide any medical reimbursement, it only lowers costs when the services of members participating in the plan are used.
The ACA eliminated many previous restrictions and raised eligibility for many people who did not have low-cost options before the reforms, this changes how you would look at the options available. Keep in mind that you may now be eligible for something that you didn’t think possible before.