Ways & How

How to Get Cheap Health Insurance

How to Get Cheap Health Insurance

Nowadays, a huge chunk of the population relies on health insurance to decrease costs on medicine, check-ups and other health care needs. Health insurance is one of the staples to securing a stable financial status, because without it, just a single hospital episode may have your savings suffering. When searching for cheap health insurance, you have to take into consideration factors that may make your monthly premium go higher, such as if you want to cover your entire family, the state you live in, and your income level. For those who are employed full-time, many get health insurance from their companies; however, not all employers offer this added benefit. If you are among those who do not have health insurance because you work for yourself, may have lost a job, or work in a company that doesn’t provide it, below are some ways on how to get cheap health insurance for you or your family.

  1. See if you are eligible for Medicaid coverage. Low-income individuals, disabled people, pregnant women and certain other situations allow for Medicaid coverage.

    Check with your state’s health department to see if you qualify.

  2. Use online resources for comparing health plans. If you do not qualify for Medicaid, you can use certain websites to search for affordable coverage for you and your family. Resources, such as HealthCare.gov and eHealthInsurance.com, can easily help you compare plans so that you can choose the most appropriate one for your household. Visit their websites, enter pertinent information, such as the number of persons who will be getting coverage, your household income, and the status of each person (e.g., baby, adolescent, college student, etc.), and the website tools will determine which types of health insurance you are eligible for and the monthly costs. eHealthInsurance also provides customer opinion and feedback on each insurance provider.

  3. Decide which type of health insurance is best for you. There are three types of health care insurance: HMO, PPO or EPO. HMOs, or health maintenance organizations, offer much lower prices since you mainly have to report to a single provider, who may refer you to specialists when needed. Unlike PPOs and EPOs that give you access to specialists, HMOs are able to keep costs low since all referrals are coordinated through a single physician, which means less paperwork. Any of the three types of plans may work for you or your family. Also, before deciding on one, check to make sure that your preferred physicians are part of the network.

  4. Try to opt for a higher deductible. A deductible is the amount that you have to pay before the insurance comes into effect. Paying a higher deductible keeps your monthly premiums low and can also save you some money over the long run. Though you have to have some money to partially cover medical emergencies, having a higher deductible significantly lets you save on the total cost of your health policy.

  5. Evaluate if an “emergency medical health insurance plan” is for you. Some people consider switching to a plan usable only in medical emergencies that cost a considerable amount of money. Usually, these plans come into effect after a large deductible, but can save you significant amounts on health insurance premiums. You pay for minor procedures and doctor visits, while the plan covers major procedures and larger health care expenditures.

Again, affordable insurance need not be difficult to find. Using the guide above on how to get cheap health insurance, you may be able to save hundreds of hard-earned dollars on your monthly payments and health care costs.


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