Along with amazing benefits of the health insurance in future, there comes the huge addition to the expenses monthly wise or maybe yearly wise. However, finding the best health insurance plans also includes getting a cheaper or affordable plan with nearly the same benefits. There are innumerous health plans in several medical insurance companies, and the cost of every policy differs based on the payment procedure selected and the benefits provided by them individually. Moreover, the premiums of health insurance are concealed and regulated by the state’s dept. of insurance. No matter, whether you buy the insurance premium from the local agent or from the company or else from the e-health insurance you will have to pay the same monthly premium for the same preferred plan.
Most e-health insurance plans have the same convenience in shopping and purchasing the health insurance plan including the advantages of the normal insurance policies. However, getting the best-assured price is all that matters when it comes for selection of a suitable policy from any insurer.
Ways to get low-cost health insurance
There are several ways to get beneficial health insurance plans but getting cheaper health insurance plans is not the only barrier if you are new to health insurance. Sources of the health insurance and their potential also play a major role for sure as there are different sources such as government, private insurance company, from university or job and many more. However, getting a complete clarification for acquiring cheaper health insurance is not always possible instead there are few discussions which may clear the confusion up to some extent.
A few affordable and cheaper health insurance plans that are quite preferable and has lots of clients with them are
- Medicaid: –
It’s a government based health insurance providing social welfare program which is probably available with quite an affordable price. This program is for unemployed people or families with low-income probability. It is clearly the cheapest health insurance plans as there are no deductibles, no out of pocket expenses and moreover no monthly premiums or co-payments. However, the plans related to this social welfare program differs from state to state, but eligibility of it requires satisfying the low-income guidelines for sure.
The benefits of health insurance policy under the Medicaid program also varies with the people under extreme poverty lines as well as disabled, pregnant women with the coverage of it. One can apply for the Medicaid program by simply contacting the Medicaid program or health insurance exchange. Although it requires a lengthy paper works, the outcome of it will be quite beneficial.
- Short-term health insurance: –
Acquiring a short-term health insurance plan is also a smarter way to get an affordable but reasonably beneficial than the comprehensive health insurance policy acquired by the private insurers. The coverage of short-term health insurance plans extends up to 6 months. In the meanwhile, renewal of short-term plans cannot be renewed, but one can buy another similar plan soon after completing the coverage of the previous one. Buying another similar short-term health insurance plan soon after the coverage can give the benefits of one year of coverage.
However, short-term health insurance plans can’t give the tax deduction or exemption benefits if compared to the comprehensive health insurance plans. Literally, it doesn’t satisfy the Affordable care act, and thus it is not for everyone. Moreover, short-term health insurance plans cannot cover the whole medical expenses if you are suffering from serious illness.
- Job-based health insurance plans: –
Job-based health insurance plans are the best source of insurance if you are in a full-time job and your company is offering insurance for its employees. However, there are very fewer companies that offer this facility to the workers most renowned companies such as Google and multinational companies have this facility for employees to maintain a better interaction. If your job comes with these health insurance benefits, then you may also get a lot more favorable offers when compared to the comprehensive health insurance plans available. Most of these job-based health insurance plans have a deadline before which one has to sign up.
This company-sponsored health insurance plans to possess a shorter waiting period before the beginning of the coverage although renewal is simple until you are in the job.
Besides these affordable plans, there are many cheaper health insurance plans which have simple application procedures as well as a processing fee of the premiums. Parents health insurance plans, government-based social welfare programs are mostly preferred as they are the safest means with more benefits. Apart from the benefits and cost of the policies, these health insurance plans guarantee for the benefits when it is most needed. Thus, you can get low-cost health insurance and deem multiple benefits as well if you take extra care on the points listed above.