Affordable Health Insurance Plans

Written by Norene Anderson
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Affordable health insurance plans are sought after by millions of Americans. More than 40 million are uninsured and another 60 million are not covered adequately. This is a tragedy affecting the health and well being of millions of families. People who do not have insurance are less likely to visit the doctor unless something is seriously wrong.

The words "affordable" and "health insurance" hardly seem to fit in the same sentence. It is, however, possible to find affordable health insurance plans if you know what to look for and where to look. There are companies that exist for the sole purpose of putting clients in touch with an insurance company capable of providing coverage at a cost that is possible to handle, even on a limited budget.

How to Find Affordable Health Insurance Plans

Many factors enter into the equation when applying for health coverage. The first issue in cost is whether you need an individual policy, spouse, or children coverage. Age is another factor. Most companies make an automatic adjustment in premiums at certain ages. The type of coverage options covers such things as serious illness and disability benefits. Of course, the more benefits you desire, the higher the cost.

Affordable health insurance plans for the self-employed are more expensive than for those individuals working for a company with group benefits. There is a major difference in the out-of-pocket premiums for self-employed rates over the group rates. Several small business owners can join some small-business associations and enroll as a group plan to save premiums.

Ways to Structure Affordable Health Insurance Plans

One of the easiest ways to find affordable health insurance plans is to enter the contract with a high deductible. This is a great way to save money if everyone on the policy is essentially healthy. A deductible of $500 or even $1,000 will significantly reduce the monthly premium. This may not be a good idea if there are ongoing health issues that must be treated frequently or if the treatment is expensive.

Affordable health insurance plans often do not cover pre-existing conditions for a defined number of months. There are different rules and regulations regarding group, individual, and self-employed coverage. The various states also have their own set of guidelines. If you are covered by a group and change employers to another group, you cannot be denied coverage because of health issues. If you do not have insurance or have an individual policy and join a group, the options for exclusion because of pre-existing conditions may be applied.

Be a Wise Health Insurance Shopper

The best way to find affordable health insurance plans is to request a quote online from a reputable company that services several companies. It is possible to make one application and receive quotes from several providers. Before you make your selection, be sure to read the fine print. See what is covered and what is not covered.

Do you need prescription coverage? If so, find out just how much is covered and what type of drugs are excluded from the limited co-pay. Many plans will have a co-pay such as $10 or $20 for generic. There is not a generic formula for many drugs and these can really be expensive. It is common for many plans to revert to a 20/80-payment requirement on these drugs. It is imperative that you do your research and know exactly what you are getting in a policy.

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