When times get tough paying for health coverage while you’re healthy may not seem very enticing. Despite the fact that being uncovered can lead to significant fines in the long term, finances in the short term just don’t allow that.
Health insurance policies and coverage options are very unstable and often at the mercy of who is in charge of the country. Yet, there are affordable health insurance options out there when you know what you’re looking for.
Catastrophic Coverage
Too many of us are just a car accident or an illness away from poverty. If you are considering letting your health insurance coverage lapse due to financial hardship, consider catastrophic coverage.
Plans are varied but, in general, monthly premiums are cheaper. Copays and deductibles will be more than conventional health plans. If you don’t go to the doctor that much anyway, this type of plan may be right for your needs now.
Out-of-pocket expenses apply until you reach your deductible. In the event of illness or injury, there is a definitive number that won’t be surpassed. Left completely uncovered, that number could get a lot higher.
Short-Term Limited Duration Health Insurance (STLD)
Cheaper premiums with much less comprehensive coverage. While this may be the most affordable health care option for you and your family, if the plan is not ACA certified, then you will still have to pay a fine for being uninsured.
These plans can cover you for a few months to a whole year. Unfortunately, if you have a pre-existing condition, then you may be excluded from qualifying in certain states. Also typically excluded are maternity care, preventive care, mental health, prescription drugs, and substance use treatments.
Limited Benefit Plans
Where low premiums and cost meets low (but more than none at all!) health care coverage. When times and cash flow are good, then these plans are seen attached to more comprehensive coverage plans.
When times and money are not so great, then a limited benefit health insurance plan can keep you out of the red should the unexpected arise.
This type of insurance provides cash benefits directly to you. Determined by specific medical events, such as doctor office visits, hospitalization, medical tests, surgeries, childhood immunizations, and more. Despite varying amounts different facilities may charge, you receive the same dollar benefit, without the deductible.
Medicaid
Funding for Medicaid is a joint effort between state and the federal government. Thus, coverage and plans vary from state to state.
Eligibility is determined by income, household size, disability, family status, and other factors depending on where you live.
Visit verahealth.com to find the right affordable health coverage that protects your financial and physical future.
Affordable Health Insurance
Learning about and knowing all your options is crucial when it comes to finding affordable health insurance. While it may seem difficult when finances are tight, don’t stop exploring your options!
There is affordable coverage in some form or another that may be perfect for you. Get started today and discover how Vera Health can help you and your family get the coverage you deserve.
