You need health insurance. The Affordable Care Act has made it mandatory for most people, and even without a legal act to enforce it, health insurance is an essential. Without it you risk not being able to get treatment, or having to pay staggeringly high medical bills if you do. Many young, healthy people wonder why they need insurance when they are unlikely to need it, but you never know. Accidents and illnesses can befall anyone at any time. Health insurance could one day save you a fortune, but that doesn’t mean it needs to cost you a fortune now. These top tips will help you to save money.
One of the first thing to do is find out if you could be eligible for any help, perhaps in the form of a subsidy. A subsidy is financial assistance from the federal government to help you pay. You don’t need to pay it back; it isn’t a loan. It is dependent on your income, family members and how much health insurance costs in your area. Check to see if you are eligible before you do anything else. Also, speak to your employer, they may offer their own package or discount.
Medicaid and Medicare
Another one to check. You may be able to claim Medicaid or Medicare. Medicaid is a social program to help those on low income. Eligibility varies from state to state, so check the guidelines for where you live. Medicare pays for some treatments and care for the elderly, and people with certain disabilities. If you are over 65 and think you might be able to claim, again check the guidelines for your state.
Always get the essentials, but think about what you really need after that. Are you likely to need maternity cover, for example? Check plans for optional extras, and make sure you uncheck any you don’t need. This is a great, easy way to bring your costs down.
Share a Plan
Depending on your situation, a family plan might give you better value for money. If you are under 26, you may still be allowed coverage from your parent’s plan. Consider this before you buy your own.
Look After Yourself
The best way to cut costs on health insurance, is not to need it. Take good care of yourself through healthy eating and exercise. Have regular checkups and treat any conditions as soon as you can. You might find you stay in good health for a lot longer.
This is the best advice when making any purchase. Health insurance is no different. There are a lot of plans available. Don’t compromise on what coverage you need, but shop around before you commit to a plan.
Health insurance is something you can’t afford to miss out on. While you’re searching for your perfect long term plan, or looking into any benefits you might be entitled to, don’t leave yourself without protection. A short-term plan from Pivot Health might be exactly what you need. Remember cutting costs shouldn’t mean you miss out on any essentials.