Finding Affordable Health Insurance in a Bad Economy
Affording health insurance during tough economic times can be a daunting task.
After all, individual and family health insurance can be expensive, especially if you have certain medical needs.
And if you have suffered a job loss, getting health insurance coverage may seem all but impossible.
What can you do? When money is tight, coming up with the cash for an insurance premium can be tough.
However, the last thing you want is unexpected medical bills that could wipe out your savings.
Your best bet for finding affordable health insurance is through a group plan offered by your employer.
Employers offer these plans as a way of attracting employees and even as part of the compensation.
Employers will pay a portion of the premium so it doesn't cost as much to workers.
If your employer doesn't offer a plan, or you are unemployed, check to see if any associations that you have a membership with offer group health insurance.
Again, places like credit unions, associations and other organizations will often offer some group discounts as a benefit of membership.
To find coverage on your own, you'll want to get several different quotes and look at a few different plans.
Most health insurance plans differ from each other in rates, copayments and types of coverages available.
The first thing you'll want to do is decide what coverages you will need.
For example, if you are young and healthy you may only want to get coverage for catastrophic illness and injury as a temporary fix until you can get group insurance at work.
On the other hand if you have a chronic condition or several prescription drug needs, you'll want to make sure you pick a plan that covers those areas.
A convenient way to start is to go online to an insurance comparison site and get some quotes on different plans.
At comparison sites, you can typically complete one simple online application to get several quotes back.
You then should have the chance to review the quotes and the plans with an agent or representative.
Remember, the cheapest plan may not be the best one for your needs, so be sure to ask questions.
Also, you'll want to completely understand the limits of coverage, and deductible and co-pay amounts.
An added benefit to getting these quotes, is that it will help you understand the costs associated with getting health insurance and help you make some key financial decisions.
After all, individual and family health insurance can be expensive, especially if you have certain medical needs.
And if you have suffered a job loss, getting health insurance coverage may seem all but impossible.
What can you do? When money is tight, coming up with the cash for an insurance premium can be tough.
However, the last thing you want is unexpected medical bills that could wipe out your savings.
Your best bet for finding affordable health insurance is through a group plan offered by your employer.
Employers offer these plans as a way of attracting employees and even as part of the compensation.
Employers will pay a portion of the premium so it doesn't cost as much to workers.
If your employer doesn't offer a plan, or you are unemployed, check to see if any associations that you have a membership with offer group health insurance.
Again, places like credit unions, associations and other organizations will often offer some group discounts as a benefit of membership.
To find coverage on your own, you'll want to get several different quotes and look at a few different plans.
Most health insurance plans differ from each other in rates, copayments and types of coverages available.
The first thing you'll want to do is decide what coverages you will need.
For example, if you are young and healthy you may only want to get coverage for catastrophic illness and injury as a temporary fix until you can get group insurance at work.
On the other hand if you have a chronic condition or several prescription drug needs, you'll want to make sure you pick a plan that covers those areas.
A convenient way to start is to go online to an insurance comparison site and get some quotes on different plans.
At comparison sites, you can typically complete one simple online application to get several quotes back.
You then should have the chance to review the quotes and the plans with an agent or representative.
Remember, the cheapest plan may not be the best one for your needs, so be sure to ask questions.
Also, you'll want to completely understand the limits of coverage, and deductible and co-pay amounts.
An added benefit to getting these quotes, is that it will help you understand the costs associated with getting health insurance and help you make some key financial decisions.