Cheap Individual Health Insurance Plans For Your Budget

Cheap individual insurance plans are hard to obtain, especially when you have a history of health problems. You must understand the factors that can help lower your insurance rates. Failing that, there are a number of insurance options that will help keep your health costs down.

Health Insurance Cost Factors

There are a number of factors that determine your health insurance costs. They include:

  • Medical History–Paying insurance benefits costs insurers money, so they prefer clients that are least likely to need medical care. If you are generally young and healthy, insurers are happy to give you their lower rates and other generous conditions. But if you have a chronic illness or a medical condition, insurers would be more likely to do the opposite if they offer you coverage at all. This principle extends to smokers and alcoholics–their addictions put them at constant health risk.
  • Age–As you get older, your organs deteriorate. A healthy lifestyle may help keep you in good health, but there is no such thing as a cure for aging. Thus, the older you are, the more likely you are to use insurance and the more you will pay for it.
Affordable Insurance

If you can’t get affordable health insurance from private insurers, you may have other options. Each has it’s own conditions and limitations. Furthermore, they may not have some of the more advanced featured available in private insurance. The affordable insurance options include:
  • Medicaid–A government-run healthcare plan for lower-income families and individuals. Different states have different definitions of “low-income” for the purpose of Medicaid, so you should check your state laws to see if you qualify. For the most part, you are allowed to apply for Medicaid whether you work or not.
  • Medicare–A government-run healthcare plan geared towards senior citizens using the funds generated through Social Security. If you are 65 years or older and paid into Social Security, you automatically qualify for Medicare. The program also offers disability benefits.
  • State High Risk Health Insurance Pool–A state-run program geared toward people with medical conditions that put their health at risk. The plan is meant to provide aid when private health insurance providers refuse coverage. This may not necessary be cheaper then private insurance, but, depending on your situation, it may be the only viable option.
  • Short Term Health Insurance–Private health insurance programs designed for people who are out of their jobs. As the name implies, it lasts for a limited period of time that can range from thirty days to a year. You are allowed to end the coverage before it runs out should you choose to, but the coverage can’t be renewed.
  • Group Insurance–Health insurance programs offered by private and government-affiliated organizations. The coverage is limited to the members of a specific group like a trade union or association, but choices are varied and the rates tend to be fairly low.
  • Health Insurance Discount Cards–Not a health insurance program in the proper sense of the word, it does allow you to get some discounts off your regular medical payments. Compared to other options on the list, the resulting savings don’t amount to much, but they are still better than nothing.

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