Cheap Health Insurance Options For Individuals And Families
The current economic condition of the country has put many families in a state of health care crisis. The financial slow down has caused many companies to lay off employees or close the door altogether, not only leaving a great many people without a job, but also without health insurance. While paying a COBRA premium is an option for some, it can quickly drain any savings or be completely unaffordable for others.
More recently, the unemployed and uninsured population need to find cheap health insurance options for themselves as well as their family. Sometimes, reading a health insurance policy can leave you more confused than before. Readers are often left wondering exactly what their coverage is and under what circumstances. With every penny counting, it is important to make an informed decision.
Finding cheap health insurance is not just about finding one that is affordable. It is also about one that covers the things most important to your life and the circumstances surrounding your needs. Get informed of your options is the best advice that anyone can give you when you are shopping for insurance. Understanding some of the terms will go a long way in getting proper coverage:
- Family and Individual Coverage
Individual or family coverage is obtained by the individual and separate from any company or group. One of the most important things to understand about individual health insurance plans is that they are typically more difficult to obtain. Since it is for an individual or family, the medical history of each person will be looked at much more carefully than under a group plan, where the risk is spread over all paying members.
- Short Term Health Insurance
For those who are in-between jobs, short term insurance plans may be a good option. Coverage ranges from one to six months and can help if there is a medical crisis in an already difficult time. They are limited however. They will not cover a pre-existing condition or preventative care.
- Student Health Insurance
Another group usually in need of cheap health insurance are students. Increasingly, schools are making having health insurance one of the requirements of enrollment. To ensure an uninterrupted coverage, families should take the time to find an affordable health insurance plan long before school starts.
- Defined Benefit
For those who have been turned down by major insurance companies for preexisting conditions, a defined benefit may be a cheap health insurance option. These plans provide defined coverage and do not cover catastrophic coverage. They are easy to understand and provide first dollar coverage. Most insurance plans may not be seen as cheap or affordable. However, when compared to a hospital bill for someone without coverage, it is pretty convincing.
Good Questions to Ask About Health Insurance Obtaining cheap health insurance can be a difficult and confusing process, but asking good questions can help you get the coverage you need:
- Are there ways for individuals to gain group insurance? A health insurance agent can help an individual discover possible group plans through credit unions or trade associations.
- What is Risk? Knowing what insurance looks at to calculate their risk, and your cost, can lower your risk and cost.
- How do I know what is covered and what is not? Knowing exactly what the plan covers as well as it's limits will help you to choose the one that best fits you expectations. An agent can help you understand the terms of coverage and the limits.
Finding cheap health insurance can be a difficult, but important task. A financial downturn can cause many to consider going without coverage for a time, but that decision can end up a very costly one both financially and for one's health. Agents are there to help you find a plan that not only meets the needs of you and your family, but also fit into your budget.
by: Rickey Pearce