Introduction
According to statistics collected by the U.S Census Bureau, approximately 49 million Americans live without health insurance. This has a lot to do with the effects of the recent economic recession, which saw many people lose their jobs, some companies drop employee health insurance benefits, some families opting to go without health coverage to cut the cost of living and ultimately the rising prices of insurance cost health premiums.
Step 1
Americans now have to pay 45% more for family health coverage than they did 2005, says a report released the Kaiser Family Foundation. However, there are some low cost insurance options which are either unknown or unutilized by many Americans. Below are avenues you could pursue to obtain low insurance cost health premiums.
Step 2
If you are being treated for any work related injury and cannot meet the insurance cost health premiums, then you should look into the coverage provided by your employer’s Workers' Compensation program. Employers are required to insure their employees against any injuries or accidents they may experience while at work.
Step 3
Every State operates a Medicaid program, which provides health coverage to low income families and individuals, people with disabilities and the elderly. Every state has its own set of eligibility requirements, sets the payment rates for services, and determines the amount, type, time duration and scope of services offered. It won’t cost you a penny to find out if you are eligible for the program and is a viable option to reduce insurance cost health premiums.
Step 4
Individuals with preexisting medical conditions will often find it difficult to access affordable insurance cost health premiums. Fortunately, most States will run a High Risk Insurance Pool which is basically a nonprofit association which provides health insurance to individuals who have been denied health coverage by private insurance companies. Even though its premiums may not be cheaper than those you would pay had you qualified for regular health insurance, it will ensure that you are covered from any unwanted health related incidences.
Step 5
Another viable option is to apply for a high deductible emergency policy. When you apply for an individual or family health insurance plan by yourself, you will not get the cheaper group plan or additional contributions you would get if your employer had applied on your behalf. But you can get around this issue and access cheaper insurance cost health premiums, by raising the number of deductibles on your policy.
Tips
A high deductible emergency policy will provide coverage for major medical expenses like surgery or debilitating diseases. However, you will be required to pay for medical visits, prescriptions, among other expenses, up to the threshold level for your deductibles. Therefore, you should pick your deductible levels wisely, so as to obtain affordable insurance cost health premiums.
Sources and Citations
If you find yourself working in-between jobs or expect to start one soon, then you should consider applying for short term health insurance coverage. It works the same as an individual or family health insurance plan, except that it provides coverage for a specific amount of time, mostly short term. This will enable you to reduce your insurance cost health premiums, and ensure that you covered even if you are unemployed or working on a cyclical basis.
