Did you know that 44 million people in the United States do not have health insurance? If you are looking to start a new insurance policy with the new year right around the corner but are concerned about costs, we are here to help. Keep reading to learn the top budget insurance policies you want to check out.
1. Employer-Sponsored Insurance
If your job currently offers coverage then you should take advantage and go through your work. Large businesses are required by law to provide group health insurance for their full-time employees. With group plans, you will not have to pay for all of the costs because your employer will pay for part of it.
Because they pay for part of your coverage you will have a lower premium to pay vs paying for it 100% on your own. There are usually options to deduct your premium payments directly out of your paycheck if you choose. Going through your employer is one of the most affordable ways to get covered if it is an option for you.
2. Individual Health Plan
If you are self-employed and going through an employer is not an option then you can search for an individual plan. You can look through the options available on the marketplace during the open enrollment period to see how much it would cost you to have health insurance.
A key to receiving lower payments is to be as healthy as possible. You always want to disclose whether you currently take prescriptions, drugs, or smoke when you are asking for a quote. The more honest you are during your application the more accurate your quote will be.
When you are shopping around take a look at the co-pays, coinsurance, and deductibles that you will have. The higher your deductible is the lower your monthly health premium will be. Also, keep in mind that most health insurance plans do not include dental and vision, those are typically separate plans.
3. Medicaid
If you have a low income then you might qualify for the Medicaid program in your state. This is public health insurance that will give you health coverage for little to no cost.
Every state is a little different and they each run their own Medicaid program with specific eligibility requirements and specific income limits. For those that qualify this is the most affordable care that you can receive and the great thing is that you can apply at any time without having to wait for open enrollment.
Which Budget Insurance Policy Will Choose?
Now that you know about the top budget insurance policies out there, you can make an informed decision while you are shopping around. We hope that you are now feeling a bit less overwhelmed and stressed out as you look for the best healthcare coverage for yourself and your family.
