How To Find Cheap Health Insurance: Some Ways To Get Cheaper Coverage

Finding affordable health insurance can be a challenge for anyone. The rising costs of healthcare, coupled with narrowing provider networks and high deductibles, can make it difficult for even the healthiest individuals to secure coverage. Fortunately, there are ways to find cheap health insurance if you know what to look for and where to start your search. In this article, we’ll explain five strategies you can use right now to find cheaper health insurance.

Contact Health Insurance Companies Direct Asking For Better Rates

Before you even begin your search for cheaper health insurance, you should first contact some of the major health insurance companies and ask if there are any special deals or discounts you can take advantage of. Many health insurance companies offer special programs and discounts to encourage healthier behaviors among their patients, including smoking cessation programs and weight management programs. And, because most health insurance premiums continue to rise every year, the health care providers of these companies are in the best position to negotiate with health insurance companies for you and get you discounted rates on your health insurance coverage. With these strategies, you can save anywhere from 10% to 40% on your health insurance premiums. That’s still a lot less than you’d be paying in premiums if you didn’t take advantage of these discounts. Don’t just settle for a lower rate on your insurance coverage, though. Ask the health insurance company to cover a health care provider that you’d prefer over another. And, most importantly, shop around to find the best health insurance company for your needs and budget.

Check For State-Run Exchange Offers

A number of state-run health insurance exchanges offer special deals and discounts for residents who qualify. You may qualify for discounts if you’re a lower-income individual or if you have certain medical conditions. To check if your state’s exchange offers any discounts or deals, go to the website of your state’s health insurance exchange to see what discounts are available to you. Once you know what discounts are available to you, you can then compare the prices offered by different health insurance companies and choose the one that offers the best deal overall.

Participate In An Employer-Sponsored Health Insurance Exchange

If your state’s health insurance exchange offers special discounts for lower-income individuals, consider joining the exchange and qualifying for these discounts. One way to do this is to participate in the health insurance exchange offered by your employer. This is often a mandatory requirement for many large and small employers. If your employer signs up for the exchange, you’ll automatically be enrolled and able to take advantage of any special discounts and deals the exchange offers.

Look For Nonprofit And Exchange Offerings That Serve Low-Income Individuals

If you live in a state that doesn’t have a state-run health insurance exchange, consider joining a nonprofit health insurance exchange. Many nonprofit organizations offer health insurance options for individuals who don’t qualify for Medicaid, but who earn low incomes. In addition to nonprofit health insurance exchanges, many states have public health insurance exchanges that are available only to individuals earning a certain income level. Individuals who earn too much to qualify for these exchanges, but not enough to qualify for Medicaid, can often find health insurance coverage that’s significantly cheaper than traditional health insurance.

Check Out Short-Term Plans And Other Alternative Providers

One of the best ways to save on your health insurance costs is to consider short-term health insurance plans and other alternative health insurance options. These plans typically offer much less comprehensive coverage than traditional health insurance. Rather than paying a standard monthly premium that covers a broad range of health care services, a short-term plan typically covers only major medical expenses, such as hospital stays and doctor’s visits. If you qualify for a special discount or surcharge for health insurance because you have a specific condition, you may find that a short-term plan is your best option. And, since short-term plans are not subject to the same regulations and laws that govern traditional health insurance plans, they are also usually much cheaper than traditional health insurance.

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Bottom Line

Finding cheap health insurance can be difficult. Several strategies can help you get the best deal. Begin by contacting your health insurance provider and participating in discounts available to lower-income individuals. If your state doesn’t have a state-run health insurance exchange, consider joining a nonprofit exchange. And, if you don’t currently have health insurance coverage, short-term health insurance plans and other alternative providers are often a good option for those who don’t qualify for more traditional health insurance.