Healthcare treatments these days are extremely expensive and with an increasing number of people out of jobs and struggling to make ends meet, finding access to cheap health insurance becomes a necessity.
Group Health Plans
Most employers these days have group health plans in place, which are more cost effective compared to conventional health plans. However, this is not always the case which is why it is necessary to check with the employer if the rates are the same as outside insurance companies. There is also something called Workers' Compensation, which offers coverage from the employer if the person is undergoing treatment for a work-related disease or injury. As per US state laws, employers are legally bound to offer compensation if the person is being treated for a work-related injury.
Medicaid
Medicaid was started during 1965 as a means to help lower income families to receive cheap health insurance for their children and themselves. People who are below the poverty levels, as stipulated by federal law are also covered by Medicaid. Various aspects of healthcare are covered as per Medicaid such as doctor's visits, hospital visits and visits to emergency rooms, prenatal care expenses, drugs as well as a host of other treatments. Even people who are working but do not earn enough to afford conventional health insurance may qualify for cheap health insurance provided by Medicaid.
State Insurance Pool
If a person is rejected by conventional health insurance companies, they can get access to cheap health insurance via the state pool of insurance for high-risk health categories. While the rates of such plans may not be very affordable, they can be the only alternative left, which will pay for existing health conditions, especially if the person has not qualified for COBRA.
COBRA stands for Consolidated Omnibus Budget Reconciliation Act. If a person is unemployed, they have the option to continue the health insurance plan of the previous employer via this act. Children who are just about to join college can also avail cheap health insurance with this provision and continue with the health insurance cover from their parents.
Short-Term Coverage
If a person is between jobs or knows for sure that they will be getting a job soon, they can opt for short-term cheap health insurance plans. These plans function in much the same way as individual health insurance policies but the coverage is only for a specific duration. Since the duration is limited, premium amounts are also lesser.
Sharing Plans
This is not an insurance plan per se but functions in quite the same way. It entails a group of people pooling money to pay each others' healthcare expenses. All contributions are accumulated and invested to avail interest. If there are more people willing to contribute, these plans work out better and offer a way to acquire cheap health insurance. The people who are part of this plan should only utilize the money for expenses pertaining to major medical treatments.
There are many ways to access cheap health insurance. Several state and governmental schemes exist, which help lower-income families avail affordable healthcare treatments. Whether a person is out of a job or disabled, he or she can hope for a brighter future with access to affordable healthcare treatments.
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