There are numerous medical plans and health insurance options that are affordable, but you can only take advantage of them if you are aware. With more and more options sprucing up, it is important to understand the differences in various types of insurance policies. Before you can commit to any plan, ensure you understand the terms of the health insurance program to avoid spending more money than you should.
In this post, we are going to take a look at some of the places you can find affordable health insurance. Even though you may be familiar with some of these options, I would advise you to read through the entire list and investigate your possibilities before making the final decision. After all, you are on the search for affordable health insurance.
Since the ACA or Affordable Care Act was reformed in 2014, most of the restrictions that prevented people from becoming eligible for certain health care options have since been eliminated. This opened the way for many healthcare options that most citizens are unfortunately not aware of even today. If you are one of them, continue to read this post, especially if you have been recently laid off, have no job or have little money.
Affordable Health Insurance Coverage Options:
Consolidated Omnibus Budget Reconciliation
If you have been fired, or are no longer working, but you happen to have been insured under a group health insurance program, then you may be eligible to continue your health insurance through consolidated omnibus budget reconciliation also known as COBRA.
Students can ideally continue on their parent’s health insurance, all thanks to this option. COBRA is especially ideal if you were undergoing treatment with your previous insurance plan and need a coverage plan that will allow you to continue with the treatments as soon as possible. Well, this program is not necessarily the cheapest or most affordable, and so, you will want to consider your other options before you settle on this one.
Since the reform of Affordable Care Act or Obamacare, more people now qualify for this option. The number of individuals that qualify for Medicaid has dramatically increased, but statistics show that most people are not aware. If you are one of them, you may want to look at the alterations to Medicaid for your region or state.
Apart from people living below the poverty line, there are other numerous exceptions that allow individuals with an income above the poverty line to qualify for Medicaid. Keep in mind that changes in this program vary between states and so, it is important that you contact your state insurance commissioner for more information regarding eligibility.
Another program that may be able to provide you with some health care solution is your state workers compensation program. However, this usually applies to people who are being treated for injuries that occurred when working. If that is your current situation, you may certainly want to look into this program.
This program is administered by the SSA or Social Security Administration. If you are over 65 or have social security disability, then you may be eligible for Medicare.
Make the Healthcare Marketplace Your First Stop
As earlier mentioned, the Healthcare Marketplace and the ACA paved the way to numerous programs and loosened the eligibility restrictions with most of the health insurance plans. However, a significant number of citizens are not aware that they are eligible for healthcare. So, before you settle on any plan, ensure that you check the healthcare marketplace. Who knows, you may come across an even more affordable plan.