Affordable Health Coverage
With the cost of medical care skyrocketing, it’s very financially risky to go without health insurance, but finding affordable health coverage can be a problem. This article offers some sources of affordable health coverage.
Employer
Check with your employer—and have your spouse do the same—to find out if you are eligible for any insurance coverage at group rates.
COBRA
If you’ve recently left a job with a company that employed twenty or more people, you may be eligible to continue your health insurance coverage at your former employer’s group rates for an additional eighteen months.
Professional Organizations
Some professional organizations offer discounted or group rate insurance to members and their families.
Catastrophic Health Insurance
Catastrophic health insurance has low premiums and high deductibles. It does not pay for routine medical expenses like a visit to the doctor or a prescription antibiotic, but it does provide coverage in the event of a major health problem.
Mini-Medical Plan
A mini-medical plan is almost the polar opposite of catastrophic health insurance. For a low monthly premium, your mini-medical plan will cover a limited amount of routine medical care such as visits to the doctor, basic lab work, some prescriptions, etc. However, a mini-medical plan does not cover major medical expenses such as hospitalizations, surgeries, etc.
High Risk Pools
Some states offer high risk insurance pools that provide cost-controlled insurance to people whose medical conditions prevent them from obtaining private insurance elsewhere.
Medicaid
Medicaid is a federally funded, state administered program that provides low or no cost insurance to people with severely limited incomes. Some states impose additional conditions, limiting Medicaid recipients to individuals who are under the age of 18, pregnant, disabled, or elderly.