Alternative Low Cost Health Insurance - Staying On Top Of It
We all know that getting and keeping health insurance is no cakewalk. Even just trying to make sense of it can easily be a major headache. And the worst part? The only way to even really get any good coverage is from your employer, but odds are you won't stay employed in one place for long enough to qualify for the best deals available... Looks like we're all out of luck, right? Not quite.
...but there are still ways to get cheap insurance or even completely free insurance. So what do you do? This article will tell you exactly how to make the most out of your current situation.
It's not as bad as it seems, and here are some suggestions for finding good health insurance deals:
Take Advantage of Insurance Offers from Your School
Almost every college student is offered a low-cost medical plan through their school, usually for only pennies on the dollar. Most of these plans will have a high deductible (typically $2000 - $3000) but very low premiums ($85/month is not uncommon for the average student). These plans are often not accepted by any local hospitals or doctors, but the plan can be useful for those who do not need frequent medical attention. For example, if you are in reasonably good health and do not require frequent doctor visits, this may be a good plan for you.
Remember that once you graduate from school, this plan will no longer be useful to you. Here are some general tips on how to make the most of your coverage while at school:
If possible, hold off on scheduling any major medical procedures until after graduation day. You will most likely be able to get much better coverage after you are done with school and ready to enter the real world.
If you are planning on having surgery or a medical procedure, try to schedule it for the summertime. This will give you plenty of time to recover before classes start again in the fall. You can also avoid scheduling any procedures for finals week, just in case.
Once you graduate or stop attending school full time, your medical insurance options change drastically. Basically, all your options from this point forward revolve around either looking for a job that offers good medical coverage or getting a plan that doesn't require an employer (ex: buying insurance through the healthcare marketplace).
Pay Attention to What Your Employers Offer
Regardless of your occupation or position in your company, chances are they offer some sort of health benefits. Reading your employee handbook or talking to a manager may be a good way to find out which plans are available for you and how they work. The handbook also will usually have contact information for the human resources department or benefits specialist's office, so if you have any questions, you should give those people a call. Many companies even offer "after hours" medical coverage that is intended for their employees when they don't have any active work commitments. Specialists typically do not bill for this type of care, but costs will still be covered by the employer. So if you ever need after-hours health care and you don't have insurance, it's worth finding out if your employer offers this type of coverage.
Check Your State's Marketplace for Affordable Plans
This may be a viable option for many who are in the workforce. Each state has their own health insurance marketplace that allows individuals to browse affordable plans by carrier. The marketplace is essentially an eBay-like venue where "patients" can shop for the best plan based on their specific needs and wants, minimizing the cost of healthcare premiums with extra benefits or low deductibles. Check out this link to see if your state has a marketplace: Healthcare.gov
The Marketplace is essentially a website that allows consumers to find out the cost of health insurance plans in their state. You can go here: Healthcare.gov, apply for a health insurance plan (if eligible), compare plans, and even ask questions if you have any concerns about anything. The marketplace is made up of insurance carriers who are tasked with making sure that all the low-cost plans (ex: bronze, silver, gold) are available to every citizen who needs them and they don't have enough money to otherwise pay for them. While this federal approach to healthcare may seem controversial at first, the marketplace has become an important tool used by millions of Americans who would otherwise not be able to find affordable coverage elsewhere.
Health Insurance Costs in the United States are skyrocketing, and with Obamacare on the horizon, those costs are only going to rise even more… By the time Obamacare passes, health insurance premiums will have doubled in price in just 10 years! If you don't believe me, check out this graph:
As you can see, it is not a good time to be without a quality insurance plan. However, there are still ways to get cheap/free health insurance without buying it from your employer or paying for something from your own pocket. All of these methods will help you get coverage that meets your unique needs. All it takes is a little bit of effort and dedication to find some affordable choices.
As always, I wish you the best of luck in your search for affordable health insurance.
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I have been a part of several Facebook groups and forums for years. Most recently I joined the "Free Health Insurance" group on Facebook. I have to say that this is one of the most informative groups that I have seen. It is run by some very knowledgeable people and they are very helpful in explaining what you can do to get cheap or free health insurance. The group has over 43,000 members with a lot of great information on how to get coverage at a low cost or even completely free...
Conclusion:
As a personal finance blogger, I'm always on the lookout for ways that I can get people to listen to my advice. The biggest money mistake most of us make is by not saving enough money for retirement. We'll do things like buy a new phone or new clothes every month, when we're really trying to save up for our future. It's definitely surprising how many people are all set and have everything they need to live comfortably and yet, they choose instead to buy expensive luxury items each month...
Contrary to popular belief, buying an expensive phone or a new pair of shoes doesn't mean you're going to be rich.