Health Insurance For A Low Income Family
An increasing number of low income families are finding it a struggle to find suitable health insurance cover as health care costs continue to rise. However, the good news is that it is still possible to find low income medical health insurance as long as you are willing to do a little bit of work.
The first step is to do some comparison shopping and the best place to start is on the Internet which gives you fast and easy access to a huge range of insurance companies. You can choose a number of companies and get a low cost health insurance quote online by completing a simple application form and it's a good idea to jot down some basic information about yourself and your family's medical history before you start to make the process a little easier.
Once you've got a number of quotes, pick a handful that look as though they might be suitable and then look carefully at the cover that each plan provides and compare the policies to see which plan will give you the cover you need at the price you want to pay.
Don't forget while you're searching to take a look at Blue Cross and Blue Shield, as they can often provide excellent low cost health cover. Blue Cross provides coverage for hospital fees, while Blue Shield will meet the costs of treatment by your doctor. Often you will find that together Blue Cross and Blue Shield will offer a very competitive quote, but do look carefully at exactly what is being offered to ensure that you're getting the insurance you need.
You should also be aware of some common traps.
For example, you'll find that there are many great looking deals around with extremely affordable premiums. However, you'll also often discover that these low premiums only apply to the first year of cover and that, thereafter, the premiums rise steeply. You'll also find that many companies offer low premiums until you make a claim, after which your premiums will again rise considerably when it comes time to renew your plan.
Another problem with many plans offering low premiums is that the health insurance provider will either ask you to meet a substantial number of your medical bills before they will begin paying out, or will pay a relatively low percentage of each bill. In virtually all cases you need to pay something towards you medical costs and this is usually about 10% or 20% of each bill. Be careful that you draw into the apparent benefit of a low premium only to find yourself paying 30% or every bill.
Possibly the best advice of all though is to think carefully about what you really need. If you're in good health and haven't visited your doctor for some time then you might consider simply selecting a plan that covers you for only hospital and surgical treatment.
Look for a policy which suits you and meets your needs and don't simply choose the plan that appears to be the biggest and best. Minimize your costs by taking out the insurance that you need and protecting yourself against emergencies. When finances allow you can always increase your cover at a later date.
Finding a suitable plan may seem like a daunting undertaking, but with a little bit of time and effort you'll see that it's not as difficult to find affordable health insurance for low income families as many would have you believe.
Health insurance quotes for low income people.
Children's Health Insurance Program (CHIP): A program, established by the Balanced Budget Act, designed to provide health assistance to uninsured, low-income children either through separate programs or through expanded eligibility under state Medicaid programs.
Exclusive remedy doctrine: A rule which states that employees who are injured on the job are entitled to workers' compensation benefits, but they cannot sue their employers for additional amounts.
Medical underwriting: The evaluation of health questionnaires submitted by all proposed plan members to determine the insurability of the group.
Rate spread: The difference between the highest and lowest rates that a health plan charges small groups. The NAIC Small Group Model Act limits a plan's allowable rate spread to 2 to 1.
Democrats Struggle to Finish Health Bill - New York Times
11 Mar 2010 at 8:24pm
Reuters
Democrats Struggle to Finish Health Bill
New York Times
The budget reconciliation bill would reduce the Senate's tax on high-cost health insurance plans and increase subsidies to help low-income people buy health ...
Health-Care Bill's Passage...
Bay State seeks fair shake in health bill - Boston Globe
11 Mar 2010 at 10:26pm
Reuters
Bay State seeks fair shake in health bill
Boston Globe
But because Massachusetts and Vermont already cover an expanded pool of low-income people, they would not receive extra money for it unless a special ...
Fraud needs fixing before health o...
Why health-care reform gets harder over time - Washington Post (blog)
11 Mar 2010 at 10:01am
New York Times (blog)
Why health-care reform gets harder over time
Washington Post (blog)
Participants and their families would be guaranteed all medical and hospitalization expenses, income replacement for up to six months, $50 for funeral ...
Column...
Wyo. Gov. Freudenthal signs health care pilot bill - BusinessWeek
12 Mar 2010 at 12:13am
Wyo. Gov. Freudenthal signs health care pilot bill
BusinessWeek
They could use the money only to pay for health care and health insurance. Scott has said the pilot project should make low-income people feel they have a ...
and more »
|
