For decades, American citizens displayed historically high rates of no health insurance. When ‘Obamacare’ entered the picture, the Affordable Care Act (ACA) health insurance reform managed to improve the affordability and accessibility of health insurance for US citizens. The chances are high that there’s an Obamacare option available to you. This is even if you have lost your job or have a very low monthly income. Here we explore some health insurance options for low-income members and some options for medical services that are not insurances. But are useful if you have a low income and are interested in healthcare assistance.
Coverage Via a Domestic Partner or Spouse
If you have a domestic partner or a spouse, find out about joining their health insurance first. Many health insurance institutions have altered their rues around domestic partner health insurance, so you just may be eligible. The process of adding you to the policy is smooth and easy. Also, try to check whether you qualify to add to a parent’s policy or a student insurance plan.
Check if You Are Eligible for COBRA
You may still be eligible for Consolidated Omnibus Budget Reconciliation Act health insurance or COBRA, even if you have been laid off or aren’t employed. Your eligibility depends on whether you were previously on a group health insurance plan with your former employer. Through COBRA, some students manage to continue enjoying health cover on their parent’s health insurance policies as well. The COBRA option is particularly attractive to those currently on treatment and needs a quick cover to continue treatments. Be careful, though, because sometimes COBRA plans aren’t affordable, so check the healthcare marketplace before making a decision.
High Deductible Health Plans
If your main concern is to have emergency medical coverage, should you be involved in an accident or require emergency healthcare for an unforeseen circumstance. You would then benefit from a high deductible health plan. These plans are for people who don’t intend to make frequent use of their health insurance policy.
But require a safety net in case of an emergency. Maintaining a good balance in an HSA, or Health Savings Account, for smaller health issues or consultation fees or random medication can save you money in the long run.
Short-Term Health Insurance Coverage
Short term health insurance is a medical financial product available for people ad their families who require quick coverage to avoid gaps between insurance coverage. This is a good option for the time between choosing between insurances. That will make sure you have some coverage until you settle on a choice. It is advisable not to go without insurance for any period since anything can happen! Remember, it is better to be safe than sorry.
Health Insurance Discount Cards
Health insurance discount cards are a good option for people with low incomes because it is an opportunity to enjoy low-cost health services in exchange for a membership premium. The cards offer discounts on healthcare services, but this is not insurance. These cards do not provide medical reimbursement and only reduce the costs of medical services for members who participate in the plan.
Health Care Sharing Ministries (HCSMs)
An HCSM works for a group of people who share similar beliefs. They come together to create a sharing plan for health expenses. It is a non-profit entity, and it is not health insurance, and therefore is not regulated in the same way as health insurance. An HCSM is an alternative to health insurance. These types of plans have provisions that accommodate the beliefs of the group in question. Morally objectionable procedures will not be covered. Two examples of HCSMs are Samaritan Ministries and Medi-Share.
When considering health insurance, remember that your premium is not the only thing you have to consider. You have to understand what you are paying for and know what services and advantages you will benefit from with your chosen plan. Ensure that you understand your health insurance plan terms ensure that you don’t wind up spending more on a health insurance product than is necessary for your given circumstances. Do your homework and choose wisely! It will ensure you have the right health care coverage in case of an emergency.