Looking for Cheap, Affordable Health Insurance?
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Are you in the market for a major medical policy? Perhaps your employer has recently reduced or even dropped your coverage? If so, you are undoubtedly looking for an affordable, individual or family health care plan.
You can begin your search here! Browse our listing of pre-qualified companies that offer health insurance in your State and local area. It's easy! Simply type in your zip code and then click the 'start quote' button.
The goal is to ensure the best fit for you and your family!
While many people use the Obamacare Market place, you can also purchase insurance through the private market, such as United Health, Golden Rule, Blue Cross-Blue Shield (for your state) and others. All of today's health insurance companies offer plans that are compliant with the ACA (Affordable Care Act), including the high deductible plans that allow you to set up an HSA (Health Savings Account). Using an HSA and working through a private company may open up some low cost options that you won't find on the government web site.
If you do decide to work with the government exchange, you will choose among four plans—Platinum, Gold, Silver, and Bronze. The Bronze has the lowest premiums but also the highest deductibles and coinsurance. If you are under age 30 and just want cheap insurance so you can avoid future penalties, you may be eligible for a catastrophic plan that has a very low premium, but high out of pocket costs if you need care. With a catastrophic plan, your Major Medical care is not covered unless you have a serious, high cost illness or accident.
If you do not qualify for a subsidy to pay the premium, you will definitely want to explore the private market and also the options within your own State. Some States chose to set up Co-ops rather than exchanges—another option intended to create affordable health care.
Help with High Deductibles
Often even individuals who qualify for a subsidy still have a high deductible. People sometimes scoff at the concept of ancillary benefits—policies like dental insurance, cancer or catastrophic illness insurance. While such policies were once luxuries that simply put a little extra money in your pocket if you should experience an applicable event, today they are often well worth having. They are also usually very inexpensive. A cancer policy, for example would certainly qualify as cheap health insurance, but thousands of people who have used such policies will attest to their value and would never part with them.
Keeping Health Insurance Affordable under the ACA
The Affordable Care Act, dubbed "Obamacare" has been a source of confusion for many people, partly because many States chose not to set up their own market place and have instead left people to use the government website to find a plan suitable for themselves and their families. In some areas, you can contact licensed agents who will spend the necessary time navigating the system in order to find the best plan. In others, you have to go online and find individual premium quotes for yourself.
Your opinion of the Affordable Health Care Act will depend on whom you talk to. Some people are paying high premiums and still have such high deductibles that they feel like they really have no insurance beyond catastrophic care. Others will tell you that their premiums are less than $100 a month with only $500 deductibles. The cheapest health insurance available to you will depend on your income and assets.
You are less likely to be disappointed with the ACA if you understand how it works. You may be accustomed to a wide variety of employer plans, each with its own catalog of covered benefits. The ACA doesn't work like that. Instead, the coverage is roughly the same for everyone in a given state, with the minor differences related to things like deductibles, office copays, and prescription drugs. The biggest differences are in the premiums, which—instead of based on the coverage details as in the past—are now based on a person's household income. People who have a higher income will pay a higher premium for the same coverage as someone with a lower income. People with household incomes (for a family of four) less than 400% of the poverty level receive a subsidy. For a silver plan, you are expected to pay no more than 9.56% of your household income in premium. For a bronze plan, your cost is supposed to be no more than 6.79% of your household income. If your premiums exceed those percentages, you may be eligible for a government subsidy to help pay them. The general guidelines published in the ACA were for a family of four. If you need an individual plan, you can expect a higher per person premium. The bronze plan, incidentally, is considered the minimum coverage required under the law.
Other factors that affect your individual premiums are your age and your health. (Individual health issues are not a factor with group insurance.) While you cannot be declined for pre-existing conditions, you can be rated up for pre-existing conditions, for smoking and even for obesity. Thus, you should take all possible steps to improve your health or to stay in good health. If you smoke, quit. If you have chronic health conditions, do some personal research to educate yourself about your condition; then adopt a life-style, diet and habits that have the potential for improving your health. Maintain a healthy weight, and stay as active as you can.
If possible, seek a knowledgeable agent. While "cheap" may be a thing of the past, agents receive special training in finding quotes for low cost plans for their clients and are likely to have current information on prices, deductibles, and coverage for individuals and families. Second, most health insurance agents today are trained in how to determine whether or not you qualify for the federal subsidy.
Some People Don't Need an ACA Plan
The news media may not have done a particularly effective job in helping people understand who needs coverage under the new law and who does not. For example, if you are on Medicare, you already have the only coverage you are required to have. You may choose to purchase a Medicare Supplement and a prescription drug plan, but it is not a requirement. Also, if you are on Medicaid, TriCare, or have VA benefits, you are not required to purchase anything else under the ACA. You have major medical coverage to the extent that is required.