The main purpose of health insurance is to receive the finest health care without spending any money. However, not every insurance product might be right to the individual. Nowadays, huge numbers of health insurance alternatives are available which can provide better value to your money and better fit your lifestyle.
The health insurance alternatives are listed below
- Cost-sharing programs
By using this plan, you can pool your resources for sharing medical costs. Remember one thing, it might not functions the same in health insurance but it is quite similar to that. You might pay monthly fees like health insurance premiums but generally, it is lower. Sometimes, the medical cost-sharing program is faith-based and it asks members to follow tenets of faith like avoiding alcohol. This kind of program negotiates discounts with the hospitals, doctors and other provides. It is one of the best health insurance alternatives and shares are based on the age of the oldest applicant in the household and the number of people in the family.
- Short term insurance
It is providing coverage to specific periods of a month to a year. Actually, it might not meet the essential benefits needs to satisfy the mandate of the Affordable care act. It will work similarly to long term health insurance. Typically, this kind of insurance is having a low deductible and it might not have an open enrollment period. The premium of short term insurance is lower than the long term health insurance. The shortfall of this insurance is that it might not cover the pre-existing conditions. Typically, it covers the cost of a normal pregnancy or mental health treatment. It is the perfect health insurance alternatives and it covers complications of the pregnancy.
- Association health plans
This plan covers a group of small businesses and individuals. Musicians, writers, actors, farmers and other kinds of self-employed people can be able to join the association health plans. These groups might buy health coverage to all members at significant savings to what members might pay when they buy insurance on unaffiliated individuals or open market. However, it belongs to the form of health insurance which is not regulated as tightly. Small business people and individuals might check with their state department of the insurance to online or phone to choose the best association health plan based on your needs. Fortunately, the National Association of Insurance might maintain a list of state websites and their contact information.
- Health Savings Account
If you are having high deductible health insurance plan which includes purchased through ACA health exchange then you can able to set up the HAS (Health Savings Account). Keep in mind; money that you deposit in a health savings account could be deductible from the federal income taxes. The limit on the tax-deductible could be done yearly. You might pay to qualify health expenses like co-pays and deductibles with the debit card which is tied to the health savings account. People are willing to take this plan because it is the wonderful health insurance alternatives and disbursements from the account could be free from the federal income tax.
- Health Discount Card
It is providing a discounted rate on the services from participating healthcare providers. Actually, this kind of a card might not act as insurance. It is only for people who are looking to pay cash for medical care. When it comes to the participating provider then it includes dentists, physicians, hospitals, chiropractors, optometrists, and others. If you have this card then you will be eligible to get a discount on specific prescription drugs. Some of the cards are required monthly or annual fees but discounts might vary. It is also the finest health insurance alternatives because it provides amazing benefits to people.
- Primary care memberships
Some of the independent primary care physicians and medical practices are offering services to flat monthly fee which is often referred to as the concierge medical service. Family or individual might get this service which is offered by the primary care physician which includes blood tests, unlimited doctor visits, and pediatric care. This kind of arrangement might not cover major injury treatment, specialist care, hospitalization or surgery. Most of the people might choose this option supplement primary care membership with the low premium health insurance policy which might cover injuries or catastrophic illness which is the amazing health insurance alternatives.
- High deductible policies
If you are a younger adult then you can take advantage of this policy because it might cover unexpected major illness or injury. Catastrophic health insurance might ensure coverage in unforeseen medical expenses that keep your insurance cost at a minimum. If you are having a high deductible health plan then it might make sense to open the health savings account. It will allow you to set pre-tax money to pay for the medical expenses which can provide you an automatic discount.
- Medical insurance packages
It is the viable alternatives for health insurance for people who might not afford Obamacare or who are looking to buy insurance outside of the open enrollment period. Keep in mind; you might not get ACA insurance subsidies. It can provide specific protection when you unable to buy an ACA plan. Most of the health insurance products might be short term plans when you are waiting for an open enrollment period.
- Healthcare sharing organizations
Healthcare sharing ministries are the best alternative to ACA plans to people who are having specific beliefs and opt-out of participating in traditional health care. You continue to be the best option for people in good health that might fit the guidelines which are associated with the organization.
- Ancillary policies
If you are looking to get specific types of coverage for vision or dental then the ancillary policy is the best choice. It could be the best alternative for health insurance which is specially designed to cover specific services. The cost of the policy is far lower than the ACA policy.
Amazing numbers of health insurance alternatives are available and you can pick it based on your budget and needs. Each policy is having unique features and covers specific services to select the reliable one.