Three Ideas for Keeping Health Insurance Low Cost
The Affordable Care Act, or Obamacare, promises to make health insurance a low cost investment for Americans. Navigating the types of plans and offerings that health insurance companies have is confusing, and there are many options and price points that are difficult to figure out. Families and individuals who have to purchase their own healthcare often wonder how they can find low cost health insurance.
Here are three ways to keep health insurance costs low:
- If you are under 30 years old, or cannot afford other coverage, a catastrophic plan may be the best option for keeping insurance costs low. A castastropic health insurance is a plan that doesn’t offer any additional services beyond the provided preventative visits and three office visits per year until a deductible is met. These plans are the low cost option for people who have a lower income or do not meet the guidelines for subsidies.
- Many health insurance plans offer tiered plans, and the lowest tier is normally the most affordable. These low cost plans have high deductibles, and like a catastrophic plan, may not cover much, however, if you do not have an ongoing medical problem, or you only see a doctor for preventative services, the low tier plans may be your most affordable, low cost option.
- Some plans offer a Health Savings Account, or HSA, which allows your to put aside additional money to cover health expenses. The money is pre-tax and doesn’t count in your earned income. There are some rules to follow with an HSA, like all purchases can only be used on qualified health expenses, or that you have to use all money in the account by year end.
For more information on ways to keep health insurance costs low, talk to your local Tampa health insurance agents, McKnight & McKnight Insurance. They will help you find the most affordable plan available to you, and can start the low cost insurance buying process for you. You can reach McKnight & McKnight in the Tampa area by calling: 866-525-0368.
