Paths To Consider When Looking For Affordable Health Insurance
You hear about affordable health insurance in the news all the time. Many say it is impossible to find affordable health insurance in the US. All the time you hear stories about people who cant get insurance. And although there is some truth to the problem, you shouldn’t believe everything you read about in the news.
The Best Way to Find Affordable Health Insurance
The number one best way to find affordable health insurance is to get it from your employer. The problem is that this is not always possible. The next option is to buy it yourself. Now the problem lies in the fact that buying coverage on your own is not that easy. But the truth is that it can be done even if you are already in a health related situation or you just want to retire early.
COBRA may be an Option for Affordable Health Insurance
Well your options for affordable health insurance vary depending on the situation you find yourself in.
If for instance you were employed and decide that you want to become self employed then you might opt to take the COBRA option. COBRA is an option all insurance companies have to give to former employees who were once covered under their employers’ insurance plan. COBRA allows the ex employee to continue under their current insurance plan. This is a great option for most people, the only problem lies in that the ex employee has to pay the premium portion that the employer had been paying previously. Depending on the health insurance company this may be a great option.
Independent Insurance Groups may Help with Affordable Health Insurance
On the other hand using COBRA may end up more expensive than if you look for a separate health insurance company that offers policies to the self employed, as in the example of John and his son. John was an employee of a large insurance conglomerate when he left, he continued his coverage through his COBRA option. The policy was costing him $700 a month to cover both his son and himself. When he decided to shop around for different options he found affordable health insurance coverage at $220 a month for both of them.
How Can You find Affordable Health Insurance Premiums?
The way John lowered his premium so much is by choosing a much higher deductible. After all health insurance really should be used for major health catastrophes. So choosing a deductible of say $5000 instead of $50 will really lower your monthly health insurance premiums.
The Self Employed Have other Options for Affordable Health Care
People that are self employed or have retired early and want health insurance may have other options as well. In some states people that are self employed with one or two employees may qualify for group rates and that way the get lower individual premiums. It is really just a matter of shopping around for affordable health insurance.