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How to Get Cheap Health Insurance Plan?

The United States Government has implemented various schemes and plans, such as “Obamacare,” to provide health insurance benefits to American residents. However, a report from Avalere Health reveals that the price for the silver plan under Obamacare will increase by 34% in 2018. This plan offers decent coverage but also has higher monthly premiums. For those who cannot afford the high premiums, there are other options such as subsidies and other health insurance plans. It is important to have a good understanding of health insurance policies when searching for cheap health insurance plans. Senior Vice President of Advisor Services at Manning & Napier, Shelby George advises shoppers to focus on the coverage provided for the cost, rather than just the cheap rates advertised. Subsidies and other options such as the bronze plan, which covers 60% of costs, can also be utilized to obtain cheap health insurance. Additionally, short-term policies are available for those who do not qualify for subsidies and have difficulty paying expensive premiums. It is important to consider one’s needs and options when choosing a health insurance policy.

Here are a few noteworthy details about short-term policies:

  • These policies usually last up to 3 months and can be extended till 9 months (in 3-month period renewal).
  • According to the new rules proposed by President Trump, having a short-term policy will be mandatory for all individuals. However, this rule has not yet been passed, but will soon be in effect.
  • These policies do not provide coverage for pre-existing illnesses, i.e. diseases that one is suffering from, before applying for the policy.
  • If at all one wishes to include such pre-existing illnesses in the coverage plan, then the premiums will increase substantially.
  • Unlike Obamacare schemes, short-term policies will not cover charges for maternal care, injuries due to abuse, and mental health treatment.
  • On having a short-term policy, one can avail decent health care facilities at about $100 premium a month.

On an overall basis, despite the low coverage options it provides, those who are looking for cheap health insurance for individual or cheap health insurance for families, can avail great benefits from this policy.

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