Cheap Health Insurance 2020
Health insurance premiums can have an average of $393 a month in 2017. The amount is increasing per year, albeit not significantly. For that reason, many individuals are searching for cheap health insurance in 2020.
1.) Medicaid – Cheapest Plan
The most affordable health insurance plans you can get is Medicaid. It has low to free coverage. But it is only given if you have met the criteria. It is different from Medicare.
This health insurance plan is a state and federal program. You can obtain it if you have a low income. Medicare, on the other hand, is a federal program that offers health coverage for senior citizens or people with a disability, regardless of the income.
You can qualify for both of these programs. They can work together to further lower your healthcare costs.
This health insurance program works differently in every state. The majority of the states allow individuals to obtain it if their income is 138 percent below the federal poverty level.
In some states, however, you need to meet the low-income requirements and must be part of a medically vulnerable group, like blind, disabled or elderly.
If you are an immigrant but legally live in the US for at least five years, then you may qualify for this aid. This program is a government health insurance plan but most care is provided by private businesses.
2.) Short-Term Insurance
The plans here are cheaper than comprehensive health plans. But it is only a temporary coverage as it is only available for six months to a year.
You cannot renew it. If you wish to obtain another coverage, you will have to re-apply. Some states, however, will let you purchase another short-term policy after your coverage expires.
In that case, you will have a year of coverage. But other states will not let you purchase another short-term medical insurance plan.
This option is not designed for everyone. It does not meet the requirement of the Affordable Care Act. Furthermore, the plans do not follow all the rules of ACA. That is, the plan can have a cap on benefits. If you become seriously ill, the insurer can limit your coverage.
It may also not cover essential health benefits, such as birth control and maternity care. Then, if you have a pre-existing condition, you will pay more. Furthermore, the health insurance provider may turn down your application for coverage if you are too risky to insure.
On the other hand, if you are young and healthy, this medical insurance option can be the cheapest option for you. To help you compare cheap health insurance 2020 plans, obtain quotes from us. Use our website to get the quotes free of charge.
3.) Spouse’s Plan
If you are married and your spouse has job-based medical insurance, you are eligible for the same coverage. Most employers extend the coverage to their employees’ spouses and children.
However, if you wish to sign up for coverage, you must do so during the initial enrollment period. That is when your partner gets his/her job. But if you did not apply at this time, you can have another chance during the annual open enrollment period.
Keep in mind though that if you are offered and accepted this plan, the employer of your spouse may not subsidize your coverage. Furthermore, your share of the premium is deducted from your partner’s paycheck.
When looking for affordable medical coverage, it is ideal that you shop. At our website, you may use our online quote tool to request quotes for free.
From those quotes, you can compare side by side the different plans from various insurers. Doing so will save you time and effort from going to one site to another.
Always compare the costs of the different health insurance options you can have in 2020.
Pick the Option That Meets Your Medical Needs
Cheap health coverage may be useless if it does not meet your healthcare needs. For instance, if you have a special condition, look for a plan where your current doctor is part of the network.
Know Your Budget
Before you can start shopping, make sure that you know what kind of plan you can afford. Remember that the more coverage you have, the more you need to spend for its premium or out-of-pocket costs. Never obtain coverage that you cannot afford to pay.
Under the ACA, each person must have coverage for 10 vital medical benefits. These would include outpatient care, emergency room visits, and care before and after you have delivered your baby, among others.
Our website will give you free quotes on the health insurance options available where you live. The number of plans you can vary depending on your residence. If you live in an area where there are sufficient insurers, you can choose from bronze to gold to platinum plans.
Comparison shopping is a must to help you find cheap health insurance 2020 plans. This is where our online quote tool becomes handy. When you receive free quotes, you will find that the cheapest premium is the bronze plan. However, it can only pay 60% of your healthcare costs.
For that reason, it is best not to look at the premiums alone. You must also look at the total cost of ownership. That is, examine all associated costs of owning such a plan.
To help you do it, gather all your medical costs from the past couple of years to give you a ballpark estimate. Then, compute the co-payments, co-insurance, and other out-of-pocket costs.
Then, add the monthly premiums with every plan. From there, you will realize that the cheapest option you can have is not a bronze. It could be silver or platinum.
It is also important to remember to include a change in your medical expenses if you are anticipating one. Adjust your computations to show your future medical costs.
Finding a cheap health insurance 2020 plan can be difficult. However, with the help of our online tool, you can easily compare one plan to another. But always pick the option that best meets your medical needs.
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