How to Find Cheap Health Insurance Plans

If your employer does not offer health insurance plans and you do not qualify for state-sponsored policies, you may find yourself puzzled as to how you can find affordable health coverage policies for yourself or your family. While finding insurance on the open market inexpensively can be a chore, it is doable. You just need to know how to sort through your choices and choose the plan that best meets your needs.

One of the least expensive options for those who qualify is to get covered under a parent's policy. Under the Affordable Care Act, you may be able to stay covered under a parent's health coverage plan until you are 26 years old. Even if you are married and financially independent, you are still qualified under the new health care reform rules.

If you are over 26, you can locate cheap health coverage by comparing several different health insurance plans. To maximize your chances of success, know what you want out of a health coverage plan first. List your maximum budget for out-of-pocket expenses and monthly premium. Consider what you absolutely must have covered as well. If you regularly use prescription drugs, a policy with prescription medication coverage will most likely be the most cost-effective for your situation. On the other hand, if you regularly take advantage of chiropractic care or acupuncture, you may need to seek out a health insurance policy that offers coverage for alternative care, even if the monthly premiums are a bit higher than other plans.

Being aware of the different types of policies can also help you narrow down your alternatives. One of the most common cheap insurance plans is the HMO. HMOs require their members to choose primary care physicians, who will then be responsible for coordinating members' health care needs. Care sought from within the network of participating providers will be covered while care sought outside the network is not covered.

Another cheap health insurance option is to select a high-deductible health plan and use it in combination with a health savings account. Health insurance plans with high deductibles tend to have lower monthly premiums. By paying for everyday medical expenses out of pocket, you can save your insurance coverage for major illnesses or accidents. Health savings accounts, which allow you to save pre-tax dollars for qualified medical expenses, can help you meet the costs of your deductible and save on taxes. Any unused funds in your HSA can be rolled over every year.

At the end, you may be able to take advantage of group health coverage plans even if your employer does not offer health coverage. If you belong to an organization such as the AARP or a group for self-employed individuals, you may be eligible for a group rate.

LAHealthCoverage.com can help you find cheap health insurance plans that provide coverage for your individual needs.