Cheap health insurance is not easy to find. It always requires some form of investment that is unplanned or can be used to meet the other basic needs of individuals. What are some good options within cheap health insurance for individuals or cheap health insurance for families and students ? The costs of health insurance is why a lot of people forego health insurance needs and settle on the hope that no member of the family will get sick. But avoiding medical problems can sometimes be impossible, and prevention is still better. Prevention is possible if you have the resources to seek regular checkups. And if medical problems eventually plague your family, having the resources to seek treatment is also important.
If you seem to be having difficulty finding cheap health insurance, you can also check out several other alternatives that can give you financial support in paying for your medical bills. Obtaining such alternatives may be better than settling for the cheapest possible health insurance plan that offers measly coverage. These alternatives are affordable and effective. Here are some of the great alternatives to cheap health plans.
Alternatives to Cheap Health Insurance For Individuals, Student and Kids
- Short term health insurance for families
- Discount health care plans for the individuals and students in need.
- Health Savings Accounts Plans
1. Short term health insurance
In line with some families’ stubborn belief that health care is only necessary when someone in the family gets sick, some companies also offer short term health insurance. These are health coverage plans that offer temporary coverage. Short term health insurance can be obtained for when a person suffers a costly and unexpected medical condition. There are also short term insurance plans that are designed for those who need health insurance during travel.
Take note that this health insurance alternative does not cover pre-existing health conditions and routine doctor visits. This is, however, a popular low-cost alternative to cheap health insurance.
2. Cheap, Affordable Discount health care plans
You can also avail of discount health care plans. Discount plans are cheap health insurance alternatives. This is a very common offer since you will most likely be offered with discount plans when you make an initial search for cheap health insurance. Discount plans charges premiums; in return, you get reduced fees in hospitals. Most discount plans offer discounts of up to 60%. At the very least, you can get 20% off medical procedures. It is obvious where the term “discount” in discount plans came from. If you look closely, you can even find plans that offer up to 80% discounts on some procedures. These plans, however, will not apply if you have an existing insurance plan.
3. Health Savings Accounts
Or you can take the third choice and go for a Health Savings Account or HSAs. These are not insurance plans, but unlike discount plans, HSAs require an existing health insurance plan. You need an existing plan so you can set up an HSA. However, there are several cheap health insurance plans that are already pre-packaged with HSAs. The HSAs can help you reduce premiums and increase deductibles. This option is also ideal for people with existing health insurance that have limited coverage, because the HSA serves as a supplementary plan that will pay for the medical procedures not covered by the insurance plan.
This plan also offers additional tax advantages. Since you can put in part of your income to the HSA before tax is deducted, it also reduces the tax you pay on the overall. What you put into the HSA can be ultimately used to pay your deductibles, co-pays, prescription drug purchases, and so on.
A Warning against Cheap Health Insurance
Be careful when seeking cheap health insurance. Not all providers can be trusted. If you settle for a cheap health plan for families and invididuals from a virtually unknown provider you find off the Internet, chances are that you are receiving a plan that offers very limited coverage. Aside from checking the reputation of insurance providers, make sure to check out the offered coverage. Special awards and high ratings from AM Best can also help ensure the quality and reliability of a health insurance plan.