There is no dearth of people who cannot access healthcare insurance as they do not have sufficient financial standing.
Affording healthcare facilities in the US without any sort of medical coverage is not easy. And if that was not enough,
the mandatory access to health insurance, according to the Affordability Act, has added to the woes of these residents.
For those who cannot buy health insurance or otherwise, low income health insurance is a blessing. The options are limited, but in USA, it is better to have a cheap medical policy with restricted coverage, than to have none at all.
The government has some health plans that are specially designed for those who have a low income. Plans such as the Medicaid, Medicare, SCHIP, etc are all funded by the state and are meant for those who cannot afford insurance of any sorts at all. The problem with these plans is that not everybody can qualify for it. Plus these plans come with little coverage and a lot more restrictions. Therefore, for those who can afford to pay premiums, government aided plans are not a good option.
However for those who are looking at low income health insurance only to save a few dollars but do not want to compromise on the quality of healthcare service that they receive, cheap medical plans are more likely the option that they should consider.
Cheap medical plan come in all shapes, sizes and packages. Though these plans are comprehensive, each of these plans come with some restriction or the other. Depending on your need, you can choose one of the following plans:
1. Managed healthcare plans like HMOs, PPOs and POS that concentrate on providing primary and preventive healthcare. The idea here is to cure a disease before it becomes a bigger medical and financial menace. The problem with these plans, however, is that there is a network of healthcare service providers and one necessarily has to stick to it.
2. There are certain insurance companies that cater only to the low-income population. The advantage of buying a plan from these insurers is that there is a wide range of options available. These plans are characterized by lower premiums. These plans are good to cover any medical emergency or major illness.
3. There are certain plans that provide coverage only for critical diseases or for a limited period of time or only for a specific disease. These plans are comparatively cheaper than regular health plans.
Apart from plans that are inherently cheap, the premium in the regular plans can also be bought down. This will make the plan cheaper and thus more affordable. Here are few tips on how the premium can be reduced:
- The sooner you buy a health plan, the cheaper it will be as premium is calculated on the basis of age and health status.
- Accessing a group plan or accessing a health plan at work is a good way to get it for cheap.
- If you are going in for an individual health plan, then customize it according to your needs. Exclude services that you are sure not to use. This will ensure that you pay only for those services that you need.
- A plan with higher deductible has lower premium. If your medical plan is only a backup, then going in for such a plan will be profitable.
When it comes to low income health insurance, the options are limited. However, these plans are a good option when you do not want to spend extra dollars for regular premiums and the government is breathing down your neck to make you compulsorily access medical insurance.
