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How Do You Find Affordable Health Insurance?

These days, it's not easy to find affordable health insurance. Although there are many different types of health insurance policies, there are just a few common ways of procuring reasonably-priced health insurance coverage. If you're looking for affordable health insurance, you'll need to use one of these avenues. Unfortunately, you should expect to pay a heavy price for your coverage. If you haven't been in the market for health insurance for a few years, you might be shocked by the coverage quotes that you receive. These days, "affordable" is a highly relative term.

There are three means by which most Americans procure health insurance. Although the practice is becoming less common, most employers still offer some form of group health insurance coverage. If you're a full-time employee for a decent-sized employer, chances are good that you'll have access to some form of health insurance policy. However, you may have to make significant out-of-pocket outlays in order to receive coverage. Many employer-sponsored group health insurance plans come with high deductibles and coverage limitations that may dramatically increase their long-term costs. Before signing up for your employer's health insurance plan, be sure to read the appropriate documents and determine its exact cost.

Some group health insurance plans are also available on the open market. If your employer-sponsored plan is too expensive, you may wish to investigate this option. Most group health insurance plans only admit individuals who live in defined geographical areas or belong to specific demographic groups. As such, it may be harder for you to find an affordable open-market group health insurance plan that fits your needs. However, the plans for which you do seem to be eligible may prove to be attractive. To learn more, you can visit the website for the health insurance exchange in your state or peruse online offerings from various private insurers.

Finally, you might be able to find an affordable single-coverage health insurance plan through a private insurance company. In order to do this, you'll need to call each insurer and ask about their most affordable health insurance plans. You should be prepared to receive disappointing news: In many cases, these "affordable" plans will lack some basic features. These might include preventive-care coverage, prescription co-pays and low-cost coinsurance. In the aggregate, these missing features could end up costing you thousands of dollars per year. In other words, "affordable" health insurance policies can quickly become overwhelmingly expensive.


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