Finding Low Cost Health Insurance
Health insurance means one type of insurance coverage which only pays for medical healthcare and expenses incurred by the insurer. You never know what happens in the future. You may get injured anytime. Accidents never come calling & at sudden times like this keeping an insurance helps. It covers the whole expense for you.
But all people cannot keep an insurance as the premium is too much for them. So people intends to find affordable lower cost health insurance. According to data collected by eHealth the average cost for single coverage premium is $393 per month and for family premium the cost is $833 per month. Well, we can give you some tips on finding low cost health insurance. Let’s get started.
Monitor Health Insurance Market
Try monitoring the health insurance market & learn about the plans. There are a lot of health insurance provider in your state and try getting all the information. Different plan have different service. If you can monitor the health insurance market than you can easily choose the plan you are looking for. Remember health insurance is not cheap, it’s a little bit of expensive. But if you monitor the health insurance market carefully you will find some good plans. Different states have different policy and service. So you need to learn about them.
Buying a health insurance
Well, you have three options in buying a health insurance. You can –
- Buy Direct through an Insurance Company
- Buy through an agent
- Buy through an online insurance company
If you buy from an insurance company you will get more information, most will let you directly compare plan details, see more detailed information, and apply online. But you won’t be able to see options from other providers so I don’t think this is a good option for you. Another good bet is that you buy an insurance from the dealer. 9If you feel that you need to consult an expert than contact an agent and get the best insurance plan for individual or family. There are two types of insurer “captive” agent and “broker” (known as independent insurer). You can choose your needs and support and get cheap insurance with low premiums.
Missing the personal touch, online health insurance company is like an independent agent. They will save your time involving meeting an agent. You’ll get a lot of support with low premiums.
Check your parents plan
If your age is under 26 than some insurance accept you in your parents plan. But before that, contact your parent’s insurance company covers for dependents. Well even if you’re married or live away from home, the insurance will cover your medical expenses. But keep in mind that you’re parents insurance will not be free. If the insurance covers only for spouse than when you join them the insurance cost will rise up.
Always choose plans with high deductibles
If you don’t intend to use your insurance plan too much than you can always try plans with high deductibles or widely known as catastrophic plans. High deductible plans with lower premiums can help you solve your problem. Under the ACA, you’re eligible for catastrophic plans with low premiums if you’re under 30, or over 30.
A catastrophic plan enables you with three primary care doctor’s visits in a year, whole prescription coverage and with other essential benefits you want for your plan. However, you’ll pay out of pocket for any medical care outside those parameters until you reach a pricey deductible — $6,973 in 2018. Insurers also have a range of high-deductible plans available directly through their websites. You can choose your plan from them. If you go through a high deductible plan you should open a HSA plan (health savings account). With this you will get a low cost health insurance plan.
Look for short term health insurance plan
Short term health insurance plans are temporary health insurance plans. This plans are likely to be the cheapest insurance plans you can find. Well this plans are very cheap and you’ll find them the best plans. You can look for a short term health insurance plan in eHealthinsurance website and I think you will find insurance with low premiums costing $60 monthly. But there a little catch there. Protection awarded by ACA don’t apply in this plans. That means if you become seriously ill or injured short term plans will not cover for you at all. Not only that, you don’t call them short term insurance for nothing, as they are short term insurance, they will stop covering for you at serious times. Doctors forbid people to use them. But if you don’t intend to use your plan too much than you can keep one.
Some final thoughts
Health insurance cost is expensive. If you think that you won’t use your insurance too much than you can look for cheap ones and start saving money. But you never know when something happens and make you seriously ill or injured. But financial crisis is a good reason for choosing an insurance plan with lower premium.