Even with federal subsidies, it's not always easy to afford the health insurance plan you might want. Low deductibles are rarely associated with low premiums, and even more rarely offered on plans with low co-pays, so it helps to know where you can look to for lower cost options. This has just as much to do with understanding your health care needs as it does with health insurance prices, so make sure to evaluate both when shopping for insurance.
How Your Health Should Impact Your Choice
Depending on your age and income, there's likely to be a low or no-cost option available to you through your health insurance marketplace. However, that doesn't make it the best value for your situation unless you aren't likely to need frequent care. If you're in good health, and really only visit the doctor for an annual check-up, it's possible to choose a policy which provides for your preventative care and offers modest coverage for other needs.
Alternately, if your medical needs are ongoing, or high cost, you might save in the long term by choosing a higher premium plan in exchange for lower deductibles and more complete coverage. Pay attention to co-insurance percentages, and out-of-pocket maximums as well, since this will represent how much you will be responsible for once your deductible is met. High dollar medical care, prescriptions, treatments and other health services may also be covered by plans with higher premiums, so take stock of what your doctor has recommended, and compare those things against what is and isn't covered by available plans.
Other Low Cost Options
If your income falls below a certain percentage of the poverty level, you may qualify for Medicaid under expanded guidelines in most states. Policies can vary, so you may still have a deductible under your state's Medicaid program, but it's worth investigating to find out if you qualify. Even with a deductible though, you're still saving on the cost of premiums and you won't have to worry about not having insurance if an emergency arises, or your health care needs change.
Finally, if you can't wait for coverage to begin or you're not eligible for other options, look for a free clinic in your area. Many cities have clinics that offer free or sliding scale services, allowing you to pay based on your means. If this is your only option though, make sure you know what you're dealing with long in advance of setting up an appointment, if only so you can avoid doing paperwork while you're ill.
With very little effort you can find a great wealth of information on health care services and insurance options. Finding one that meets your financial needs as well as your health care needs is a challenge though. Contact a local broker, like Davies-Barry Ins, for help navigating your options.
Share27 May 2015
