While health insurance premiums for individual Americans has now edged up to around $440 a month, that doesn’t mean you have to pay it. Low-cost medical insurance is understandably high on anyone’s agenda, given the soaring costs of 2019 health insurance rates over the past few years.
With just a little bit of budgeting savvy and research, you’ll be able to save hundreds or even thousands of dollars a year on your health insurance. Here are the top 6 ways to find cheap, comprehensive health care options.
Always Shop Around for Health Care Options
If you can’t afford health insurance, you should know that the options offered by the government via the Affordable Care Act (ACA) aren’t your only options.
There are a number of private insurance providers which can end up saving you huge amounts of money in the long run.
Always see what other customers are saying by checking out agile health insurance reviews to see what affordable plans are right for you.
Get Those Subsidies
Did you know that 85% of Americans qualify for health insurance subsidies? The average saving for an individual who qualifies can be massive, with most people only paying around $90 a month, compared to $440 for those who don’t qualify.
Subsidies are available for a huge variety of reasons, so do your research and see what you can save.
Know Your Programs
There are a number of government programs designed to keep your insurance costs as low as possible. There are the well-known ones such as Medicare and Medicaid which can save you hundreds of dollars a month.
Then there are less well-known programs such as CHIP (the Children’s Health Insurance Program) which is often underused.
Always explore all of your health care options in the hunt to get affordable medical.
Ask Your Parents for Help
This doesn’t mean asking your parents to chip in for your insurance payments. Rather, it means finding out if you can be covered by the same insurance plan as your parents.
Under the terms of the ACA, you can stay on your parent’s plan until you reach the age of 26. Even if you’re financially independent or married, this rule still applies to you.
Tax Credits are Your Friend
A popular cost-reduction initiative offered by the government comes in the form of tax credits.
If the income of yourself or your family is within one to four times the US official poverty level, you will be eligible for some generous tax credits that will offset the cost of your insurance.
Tax credit systems come in multiple levels and apply to tens of millions of US households.
Get Yourself an Agent
If navigating the waters of the American healthcare market seems to complex for you, help exists to take care of this.
The National Association of Health Underwriters is a body of health insurance agents. They exist solely to help individuals find the best and most affordable coverage for them.
They charge for their services but it may prove a small investment for long term savings.
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