With health insurance costs constantly on the rise, many companies are scaling back what they offer their employees or are cutting out these benefits all together. With this in mind, many individuals now are finding themselves in need of locating low cost health insurance.
While it’s not necessarily easy to find low cost health insurance, it can be done if some basic things are in place. Where to look for this type of insurance will vary, however, depending on personal circumstances.
There are many places to look for low cost health insurance, but not all will fit every circumstance. Lets take a look of some options:
- Major HMO/PPO insurance companies. Believe it or not, some major insurance companies do offer policies very similar to what employers provide at a much lower cost. While these policies might come with high deductibles to maintain the low cost health insurance cost status, they can be fantastic for those who only need policies in an emergency. Going this route, too, will often provide basic preventative care at no charge, deductible or not, too.
- Group policies for self-employed. When groups are created for self-employed people in certain geographic areas, the cost savings can be pretty good. This form of low cost health insurance will generally provide what most employer-backed policies do for a lower fee.
- Catastrophic care specialists. People who are generally healthy and don’t need to make many doctor’s appointments during the course of a year opt to go this route. This type of low cost health insurance only covers major emergencies or hospitalizations though. It can be a life saver in the event of such an emergency, but don’t expect this kind of policy to pay for preventative care or treatment for colds, cuts, scrapes or sniffles. Still, this can be a very good thing to have to cover financial issues if a major illness does strike.
- Children’s policies. Very often employees are finding it’s cheaper for them to buy their own low cost health insurance for their children rather than opt for their employer’s coverage. This route can still ensure the children are covered well, but in a manner that costs less.
- Government policies. There are some states that provide low cost health insurance for their residents. While who is eligible will vary from state to state among those that offer this type of coverage, the policy costs are generally quite low. Some states might only offer coverage for children, but still, the cost savings can be worth looking into these policies.
- Temporary policies. In most cases, temporary policies provide low cost health insurance for families or individuals going through transitions, such as job changes. Since these policies aren’t for the long haul, they tend to be fairly affordable.
Finding low cost health insurance can be a little tricky, but it can be done when a little searching and research go into the prospect. Who is eligible for what will vary from company to company, but in most cases these more affordable, low cost health insurance policies will be available for children and healthy adults.