It is fairly easy to find health insurance companies for low income people. Costs for health care have increased significantly, which in turn has raised premiums for health insurance. Because of this, there are quite a few low income individuals and families who are unable to afford insurance.
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Although low income families may not be able to pay for traditional health insurance, the financial and health consequences in the long run are often very high. Fortunately there are a number of low cost health insurance options for those who fall into this category.
What are the consequences of not having insurance?
There are a number of downfalls for people who do not have health insurance. Often if someone doesn’t have insurance, he or she will not go to a physician for preventative care or even more urgent care. This can turn into more serious health problems down the road.
If an individual does not get regular preventative checkups, the chances of being diagnosed with diseases in an advanced stage increase significantly. It also increases the chances of dying from diseases that could have otherwise been prevented.
If you are uninsured and do not get regular checkups, there is a higher chance that you will wait until something is really bad before you go in. Often this equals a trip to the emergency room, which is a lot more expensive than regular health care.
If you are uninsured and have to go to the emergency room or doctor, your medical bills will be a lot higher than those with insurance. This can significantly affect those individuals and families who do not make much money in the first place.
What are some options for low income families?
If you do not have health insurance due to income restrictions, there are a number of options for you. Medicaid may be one option for you if you meet certain requirements. These requirements are set by each state.
Some states help cover the cost of insurance plans for low income families and individuals. Not all states have these types of programs, but some do. The requirements differ among each state, but you should check to see if your state has any program to help with your insurance costs.
There are quite a few states that offer an insurance program for kids. CHIP helps to cover a number of services, including vaccinations, dental care, doctor visits, and vision care.
Another way to help cover health care costs for low income individuals is through the Hill-Burton Act. This act requires that certain medical facilities offer low cost or free services to those in the local area. For more information and to search for a health establishment in your area, go to the Health Resources and Services Administration.
You should also check with health insurance companies about low cost health insurance that they may offer for low income individuals and families.
Some companies now offer mini medical plans. These plans have less coverage than traditional or major medical plans and because of this they cost less.
Are there other ways to lower premiums?
Whether or not you are considered to be low income, you may be looking for ways to lower your health insurance premiums. There are a number of ways to do this, especially if you don’t qualify for any of the low income programs.
One way to cut health insurance premiums is to just get a catastrophic plan, which is also known as a basic and essential plan. This covers major accidents that would ruin you financially if you didn’t have insurance. This may be a good choice if you are fairly healthy in general.
Increasing your insurance deductible will help keep your insurance rates low. There are particular high deductible plans, or you can just choose a higher deductible for your current plan. Keep in mind that you will be required to pay a higher amount out of your own pocket, so it is probably not a good choice for a low income family.
If you currently have a PPO health plan, you can save money by only going to doctors who are in network. For more tips on lowering your premiums, visit the Insurance Information Institute.
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