It is possible to find cheap health insurance, or at least to find insurance that is more affordable. There are many ways to do this, including raising your deductible, opting for a health savings account, finding a group plan to join, opting for a family plan, and getting your children on student plans. Here are some ways you can find cheap health insurance:
Look Forward to the New Health Care Reform Laws:
Under the new health care reform act passed in 2010, called the Affordable Care Act, there will be a lot more tax incentives and government stipends available for people who have a hard time affording their premiums. While this doesn't exactly qualify as cheap health insurance, it does make your bill a lot less scary.
Raise Deductible:
If you find a plan that allows you to raise your deductible, it will most likely in turn lower your monthly premiums. However, don't get caught without money in a savings account to pay that higher deductible if and when the time comes; high deductibles can cost thousands of dollars and you may need the money up front.
Open a Health Savings Account:
Health savings accounts are designed specifically to help you pay down high deductibles. You want to find a plan that offers a high deductible and a low monthly premium, and then open a health savings account to help save for that deductible.
Go for a Group Plan:
You can find group plans through your alumni organization, your workplace, your union and even your professional organizations that you belong to.
Go for a Family Plan:
You can find cheap health insurance by opting for a family plan; you're more likely to get better rates if you have a few people on the policy.
Find Student Health Insurance:
Student health insurance is almost always cheaper than individual or family plans. If your children are in college, get them on student plans!