The cost of Health Insurance policies has been on the rise recently and has left many people scrambling for more low-cost and affordable Health Insurance plans. Low income families are the ones worst-hit by this recent surge of cost, and statistics show that close to half of all low income families in the United States do not have Health Insurance coverage. The results of this situation? Many uninsured adults die from preventable diseases annually, something that could be averted if they had Health Insurance coverage. Many of these families also struggle to cope with their medical bills when they face medical issues and end up in debt, or even bankruptcy for those in dire straits.
For those who cannot afford normal Insurance policies, there is a workable solution available called the low cost Healthcare Insurance. Basically if you find that conventional traditional plans such as HMOS or PPOs are too expensive for you, you have two more options, namely the mini medical Insurance policies as well as the Health saving accounts. Both of these options would cost you much less in monthly premium payments, and would definitely prove to be more cost-effective solutions compared to traditional Health Insurance policies.
The mini medical Insurance can be obtained for as low as $50 per month, and you would then be covered for a specific number of doctor visits, a certain amount of medications as well as receive hospital benefits as well as limited accident coverage. This option is the cost-effective option compared to other Insurance solutions such as the PPOs.
The other alternative in terms of low cost Healthcare Insurance plans is the Health saving accounts (HSAs). These HSAs work in tandem with the HDHP (high deductible Health plan) to help low income families obtain Healthcare Insurance. Overall premiums are substantially lower, and this plan provides the policy owners with discounts on medical and Health expenses by allowing you to make tax-free deposits and withdrawals. Provided that you qualify, together the HSAs and HDHP would enable you to save a large amount of money on preventive care, and also give you the assurance that you are covered by an Insurance policy in the case of an accident or Health emergency.
Before you take up any of these options, make sure that you consult a certified Insurance agent to check whether you qualify for these plans, and to help you decide on the best policy for your family and you.