You’ll notice that most articles about how to save on healthcare for unemployed or self-employed people offer suggestions on buying a low-cost marketplace health insurance plan. However, this process is overwhelming.
While it is always wise to consider all of your options – especially those now available from the Affordable Care Act – you may also want to learn how to save money on healthcare services. Here are some options.
Ways to Save on Healthcare for Unemployed or Self Employed
Everyone – even those with health insurance coverage – could benefit from learning how to save on health care costs. After all, traditional health insurance plans often require you to meet a deductible of sometimes as much as several thousand dollars before your health insurance company will pay for all or most of the healthcare costs.
So, here are ways to reduce your out-of-pocket costs for health care.
Learn about affordable health insurance coverage.
It’s understandable if you are concerned about health insurance costs. However, if you don’t have a health plan, here are a few health insurance options.
Short-term health insurance typically lasts 30 to 90 days and is designed to cover emergencies. However, the monthly premiums and deductibles can be relatively high.
Consolidated Omnibus Budget Reconciliation Act (COBRA) allows you to extend your employer-based health insurance plan for a limited time (18 to 36 months) after you’ve left your job. But, again, these premiums may be high because your employer won’t pay any portion of the costs. COBRA is a popular choice for those searching for healthcare for unemployed people.
The government-run healthcare marketplace may be an option for you. You can find a high-deductible plan with lower-than-average monthly premiums on policies that resulted from the Affordable Care Act. In most cases, a married couple has to file a joint federal tax return to be eligible for premium tax credits and other savings on marketplace plans.
You may be able to qualify to start a Health Savings Account, which will help you save on taxes for money earmarked for healthcare.
Medicaid or the Children’s Health Insurance Program coverage and costs are based on the government’s federal poverty level. The monthly cost also depends on your state of residence and the size of your household.
Of course, you may also consider obtaining a high deductible plan from private health insurance companies. This is another way to cut health insurance costs while still having health coverage for catastrophic events.
Learn about health care service options.
In some areas, there are healthcare offices on every corner. When you become sick, or something goes wrong, how do you select the right health care service option for your situation?
Generally speaking, emergency room visits are for life-threatening emergencies, and urgent care clinics are for injuries or illnesses that don’t seem life-threatening. However, other online healthcare options give you affordable access to a doctor.
Of course, if you have a life-threatening emergency, quickly seek emergency services closest to you. However, if you want to save money, consider low-cost online options.
Participate in preventative health care.
Unfortunately, some people save money on health care by not going to the doctor. For example, they don’t participate in preventative screenings or have annual blood work.
However, paying for preventative screenings may enable you to save on emergency health care costs.
Live a healthy lifestyle.
You can save money on healthcare by making wise choices while grocery shopping. In addition, clean living, exercise, and plenty of sleep can go a long way in securing your financial future by reducing health-related expenses.
Purchase a health benefit plan.
A health benefit plan is not the same as a health insurance plan. Here’s how these specialized health plans work.
For less than $40 per month, your entire household will receive discounts on health care services, vision and dental coverage, prescription drug coverage, and chiropractic care.
To receive discounts, you must visit one of the participating providers in your area and agree to pay for services immediately. In return, the provider will offer you a discount.
Interested in Saving Money on Healthcare Costs?
Because low-cost health insurance often comes with high deductibles, you may still need help to pay for your prescription drugs and monthly medical bills. If this is a concern, contact an AmeriPlan consultant. They will show you how to save money without submitting a report on your medical history as soon as you sign up for a plan.
How to Save on Health Care: Key Takeaways
- Check out possible options if you are concerned about losing health insurance coverage following a job loss. Healthcare for unemployed options include short-term insurance, COBRA, and other plans that offer a high deductible but more affordable health insurance premiums.
- Discounted health insurance may be available to you based on your state of residence, income, and number in your household.
- You can also save money on health care by shopping around for services and living a healthy lifestyle.
- Consider a health benefit plan to receive discounts on medical services, prescription drugs, chiropractic care, and vision and dental care. This is an option for those insured or not insured.