Low income health insurance can be difficult to find, and hard to afford for many low income families in the United States. In 2005, 96% of the families making $60,000 a year had health insurance coverage. But, 53% of low income families had no health insurance at all. Low income health insurance is a necessity for low income families. When a family does not have any health insurance, they usually put off seeing a doctor for routine checkups and preventative care. Many even hesitate to go to see a doctor for urgent cases because they do not have any low income health insurance to help them cover the costs.
Low income health insurance can save a family from the high costs they will accrue from a serious illness or injury. Uninsured patients who delay treatment can end up with an advanced, and often life-threatening disease that could have been taken care of easier and cheaper if they had low income health insurance and were able to see a doctor sooner. It is estimated that 18,000 people die each year from preventable diseases. Many people who do not have low income health insurance reply on emergency rooms for treatment. The average cost of an emergency room visit is $3,300. Low income health insurance could end up saving a family thousands of dollar if a serious illness strikes. Families without low income health insurance report having difficulties trying to pay off their medical bills. Come families have even had to drastically change their lives in order to pay for medical bills.
Low income health insurance is actually better for a family in the long-run. If there is a major illness, or injury, the family will not have to suffer because of the high cost of medical care. Families with low income health insurance are more likely to go to a doctor for preventative care, which reduces the chances that a serious medical situation may occur because they did not seek treatment soon enough. It is comforting to know that with low income health insurance, you can still afford to go to the doctor when needed.
There are many options available for low income health insurance. Some families find the traditional insurance plans to be too expensive for them. These plans usually include programs like HMOs and PPOs. There are, however, many other alternatives that are affordable. Low income health insurance has many different programs and plans, each designed for specific needs. For instance, there are mini-medical plans, and health savings accounts. Both of these have premiums that are much lower than the more traditional health care policies.
Mini Medical Insurance Plans
Mini medical insurance plans are one of the low income health insurance programs that cost very little per month, but offer huge rewards to a family. These plans cost as little as $50 a month, and they cover a set number of doctor visits, medical prescriptions, hospital stays, and accidents. For families looking for low income health insurance, but who cannot afford a plan like an HMO or PPO, mini medical plans may be just what is needed to keep an entire family safe and healthy.
HSAs – Health Savings Accounts
Health savings accounts are another option for low income health insurance. This plan is a relatively inexpensive way to make sure your family has the low income health insurance they need. Health savings account works together with a High Deductible Health Plan (HDHP). These are plans that will pay any expenses that exceed your yearly deductible amount. They often pay up to $2 million. The deductibles for these plans are higher than the ones for plans such as HMOs and PPOs, the premiums, or the amount you pay each month, is much lower.
A supplementary Health Savings Account offer you a huge discount on medical bills because you use it to make tax-free deposits and withdrawals for all of your doctors, medicines, and other health related costs. If you qualify for this plan, you can actually save money on preventative health care when you use it with a HDHP program. It’s comforting to know that if you or a family member has an emergency or serious illness, the costs will be covered for you.
In order to find out if you qualify for one of these plans for low income health insurance, it is necessary to consult with a licensed insurance agent. The agent will be able to go through your finances and needs in order to help you decide which type of low income health insurance is best for you and your family. Isn’t it time that you looked at all the options available to you for low income health insurance?
