Can’t Afford Health Insurance? Get Low-Cost Coverage You Can Use Now

Cheap individual health insurance policies are hard to find. But there are many “gems” that selected carriers have in their portfolio. If you presently can not afford to purchase medical benefits, we can help. Many available policies  are great choices for consumers that don’t have a lot of their hard-earned money to spend. You can obtain comprehensive benefits that pay first-dollar expenses from the most reputable companies. Typically, most US counties offer multiple plans from three or more companies.

Large federal aid will often pay most, and sometimes all of your premium. A $1,200 per month rate can reduce to $50 per month or lower. In many situations, the monthly cost to provide coverage for an entire family may be less than $150. Also, if the cost of available plans exceed 8% of your household income, additional financial assistance may be able to help. First there was Obamacare, and now, President Trump’s plans are evolving. Along with Medicaid and CHIP for lower-income households, and Medicare and Medigap supplements for Seniors, many cost-savings options are available.

Healthy Vs. Unhealthy Applicants

If you are healthy and do not have any major conditions, “Catastrophic” and “Bronze” Metal tier rates are often lower than traditional group coverage for individuals and families.  And in recent years, as employers contribute less towards employee’s health care, employer-sponsored policies are becoming quite expensive. Depending on the size of the company, individual plans can cost as much as $600 per month, and family coverage as much as $1,500 per month.

Although medical conditions do not impact the price you pay for coverage, often, the least expensive plans are the most appropriate for extremely healthy persons. Premium savings can be  much better utilized, or perhaps invested  safely in another contract. However, higher deductibles and out-of-pocket limits could create a financial challenge if enough assets are not readily available. Deductibles  as high as $8,150 are very common. Also, many policies that feature lower deductibles ($1,000-$3,500) often include out-of-pocket maximum limits as much as $8,150. Coinsurance on Marketplace plans is typically 0%, 10%, 20%, 30%, 40%, or 50%.


Best Drug Coverage In Policy

Comprehensive Drug Coverage Is Available On Many Low-Cost Plans

If you rely on non-generic medications and/or continuous expensive treatment or therapy, a high-deductible policy with thousands of dollars of out-of-pocket expenses is not the best solution. The combination of low premiums, low copays and no (or very small) deductible needs to be found. If you are treated for an extremely expensive chronic condition, and your deductible and maximum out-of-pocket expense limit will be met, a Bronze-tier plan may (not always) be more cost-effective than a Gold-tier plan.

A subsidized plan will give you the opportunity to enroll in a policy from a top-rated  company with a good portion (perhaps most or all) of the premium payed by the federal government in the form of an instantly-applied credit. To qualify for “subsidies,” your household MAGI (Modified Adjusted Gross Income) must meet Federal Poverty Level guidelines. Using an average US subsidy calculation (each state will vary), we have illustrated below the approximate monthly government aid you can receive to help pay your premium:

25 Year-old with household income of $20,000 – $222

35 Year-old with household income of $25,000 – $229 per month

50 Year-old with household income of $30,000 – $334

32 Year-old couple with household income of $35,000 – $508

44 Year-old couple with household income of $45,000 – $460

54 Year-old couple with household income of $50,000 – $870

30 Year-old couple and two children with household income of $55,000 – $885

42 Year-old couple and two children with household income of $60,000 – $934

48 Year-old couple and two children with household income of $65,000 – $1,050

54 Year-old couple and two children with household income of $70,000 – $1,279

Expansion Of Medicaid Eligibility

Many states have liberalized their Medicaid eligibility requirements so that more consumers can quickly and easily qualify. If you’re under age 65 and make less than 133% of the Federal Poverty Level, you may be eligible for help. We provide this link, which shows you specific Medicaid guidelines in your state, and an easy method to determine if you can qualify for benefits. For example, at the 133% level, we have listed below the monthly incomes of different household sizes, that would qualify for assistance.

1 Person – $1,317

2 Persons – $1,776

3 Persons – $2,235

4 Persons – $2,694

5 Persons – $3,153

6 Persons – $3,611

7 Persons – $4,071

You can apply at any time of the year since there is not a formal Open Enrollment period. Adults, children, pregnant women,  and persons with specific disabilities are part of the more than 50 million persons covered by these programs (including CHIP). Although there are no medical requirements, immigration and citizenship requirements would have to be met. It is also prudent to compare COBRA health insurance rates  (if you are eligible) to other available options. Coverage is guaranteed and your benefits will be identical to your employer-provided policy.

How We Find Low-Cost Plans

We specialize in finding the medical plans that cost the least, but also provide comprehensive benefits. The prices on our site represent the most competitive rates available. There are never any costs for visiting or using our website, and we’ll continue to help you as long as you need assistance. If you are getting ready to go on Medicare, this page may help you with some of your choices. Medicaid-eligible applicants that have reached age 65, will be presented with additional options.

Save Money On Your Medical Coverage

Are You Waiting For Medicare To Begin?

As national medical reform and state health insurance Exchanges continue to evolve and change, we provide the resources to show you the best way to take advantage of any tax credits that might reduce your rate. Although you may not believe you can afford quality benefits, we find and compare options that will fit within your budget. Short-term plans can be kept for up to 36 months in many states, and are a low-cost option in many situations.

Of course, these credits can change every year, depending on new legislation or your income. Yes, the more money you make, the lower the government assistance you will receive in the form of tax relief. However, since federal subsidies are indexed,  built-in inflation protection will keep your financial aid stable, even if your income slightly increases each year.  New programs introduced by the Trump Administration will offer more customized plans that better fit your specific concerns.

Catastrophic Policies

Perhaps the cheapest type of individual health insurance is catastrophic coverage. This type of benefit typically costs significantly less than comprehensive plans, while still providing “big ticket” benefits. Some of the inpatient expense benefits include room charges, intensive care, operating and recovery room, prescriptions, and professional fees of specific providers. Since so many deductible and out-of-pocket expense options are available, customized policies can be selected. Through Open Enrollment each year, changes can also easily be made.

Self-employed business owners often prefer these types of options since their budget may be tighter and they may be paying for employee benefits as well. Often, selecting a higher deductible and offering some of the savings back to the worker will be popular for both parties. And this strategy used over a 5-10 year period can translate into substantial savings.

An  “HDHP” (High Deductible Health Plan) can be attached to an HSA to provide tax-favored treatment of medical, dental, and vision expenses. Contributions are optional, and deposited funds can also be used after you become eligible for Medicare. However, additional deposits are not allowed for any person receiving Medicare benefits.

Catastrophic policies often cover many outpatient expenses such as X-ray and lab costs, emergency room fees for illness or injury, outpatient surgery facility and hospital fees, CAT scans, MRIs, radiation treatment and chemotherapy. A deductible and coinsurance typically must be met before any benefits are paid. Of course, as previously noted, higher deductibles will increase your out-of-pocket costs but reduce the premium that you pay. It’s a risk, but the rewards can be substantial.

IMPORTANT: When the Affordable Care Act (Obamacare) was passed, the enrollment criteria for catastrophic Marketplace (Exchange) plans changed.  Applicants must be under the age of 30 or show proof of financial hardship to buy these low-cost plans since they don’t contain several benefits that other Metal options contain, such as maternity, and specialists visits without having to meet a deductible.

However, If your existing policy was cancelled, and you can’t afford other available policies, you may apply for a hardship exemption. There are several other hardship exemptions, including previously large unpaid medical bills, caring and paying medical expenses of a family member, and recent bankruptcy filing. Beginning in 2018, it is possible that the age restriction will be removed. Also, other high-deductible (perhaps $10,000 or more) options may become available.

Cheap Policies For Students

Low cost student  insurance plans are also offered by most of the reputable companies. If you qualify for a federal aid, premiums are generally under $100 per month (less than $50 in some states) and coverage is designed to provide major medical benefits along with flexible office visit and prescription coverage.  Often, purchasing  benefits from a reputable insurer is a better option that purchasing a plan directly from the school. Coverage tends to be more comprehensive and a major insurer can offer off-campus medical facilities and doctors. Larger Universities often feature the most attractive options.

If student maternity benefits are needed, both private and school-sponsored  policies can provide inexpensive comprehensive coverage. If you qualify for a large federal subsidy, an Exchange plan (possibly Silver or Gold tiers) will provide lower out-of-pocket cost with complete prenatal, maternity and delivery benefits. Your newborn can also be easily added to your policy, without having to qualify medically, or meet Open Enrollment requirements.

Important Note: The current fine (tax) for not having qualified medical benefits (as required by the law) is 2.5% of your entire household income. Thus, if that income is $40,000 per year an you remain without coverage, $1,000 will be deducted from next year’s tax refund, or you will be assessed an extra tax the following calendar year.

However, if you do not (legally) need to file a return because of low income, you are not subject to the penalty. For example, if you were unemployed most of the year and your income was $8,500, you won’t have to file a tax return, and thus, are not subject to the fine.

View Plans Now

To see options in your area, a box to enter your zip code is available at the top of the page. Very quickly, you’ll be able to compare plans side by side. And if you apply to purchase a policy, it doesn’t take long and the paperwork is very easy to complete. If you feel you can not afford a policy, you may be eligible for a federal subsidy, Medicaid, or another government program that helps you obtain cheap or free office visits and/or prescriptions.