Millions of Americans now are without employer-sponsored health insurance plans, yet that does not have to mean they cannot enjoy the protection of reliable health insurance. Private health insurance can provide them with fully customized benefits at a price that fits their budgets. If you are looking for a health coverage plan, you have different options for finding low cost plans, no matter what your price range is.
Although individual and family health insurance policies are usually more expensive than employer-sponsored policies, they do offer different benefits. First, you can select the benefits that matter most to you and avoid the more expensive policies offering extended coverage that you neither need nor want. You also have the choice to adjust your deductible, which will raise or lower your monthly premiums and allow you to have more control over your overall costs for health care. Ultimately, if you are young and healthy, you may actually pay less for your plan than you would through an employer-sponsored health coverage plan. That is because employer-sponsored plans spread the risk out over the whole group, which means that even if you are considered very low risk, you will still have to pay the same rate as individuals who are higher risk.
Another alternative for low-cost health insurance is the high-deductible health plan, or HDHP. Increasingly popular, HDHPs can be combined with health savings accounts, an account planned similarly to a traditional savings account but which is funded by pre-tax dollars. Because the HDHP has a high deductible, monthly payments are generally lower. Also, since the associated savings account is funded through pre-tax dollars, the subscriber's tax burden will be lowered.
In some situations, if you or someone in your family is a member of an organization, you may be eligible for group health coverage coverage. Group health insurance coverage can be more affordable in many situations than individual or family health insurance. Some organizations, including some for self-employed individuals or retired people, may offer group health options that are more affordable than health insurance policies you can find on your own. If you are self-employed and have employees, check into your state's laws regarding group plans. You may be eligible for a group plan for yourself and your employees and be able to realize notable savings on your own plan while offering your employees an added benefit they will appreciate now and well into the future.
A final choice for affordable coverage is short-term health insurance. Even though this may not be an suitable or preferred solution for all individuals in all situations, for individuals who are between jobs, it can ensure continuity of coverage at an affordable price. Short-term health coverage can also be a good option for those who are researching their options for more conventional health insurance policies.
Visit LAHealthCoverage.com for more information about finding low cost health insurance plans.