Health Insurance Alternatives Can Guarantee Coverage
The middle class frequently find themselves in a dilemma – they earn too much to qualify for Medicaid, but cannot afford the high premiums of comprehensive insurance coverage and for these people and many others there are some exciting health insurance alternatives. Another group that has trouble qualifying for, or affording the premiums of, traditional insurance plans is the self-employed or small business owner.
Health Insurance Alternatives – Cost
Insurance is a way for individuals and families to survive large losses. Groups of people are pooled together, potential losses are estimated, and these costs are spread out over the group in the form of monthly premiums. Health care costs are skyrocketing between 15% and 20% each year. Advanced medical treatments and techniques and an aging baby boomer population have contributed to these rising expenses and insurance companies have passed on these costs in the form of rising premiums. Some families can no longer afford to maintain them, and small business owners, with small groups of employees, face even higher costs per person insured. The self-employed must pay twice as much since they have no matching funds from their employer to cut their premiums.
But there are some health insurance alternatives for people who have problems obtaining or affording health insurance. Large employers are not the only alternative to obtain group rates. Many fraternal, professional and religious organizations offer cooperative insurance plans for members. You can take advantage of these policies if you are a member. Another alternative is a Medical Sharing Program. These programs are not insurance; membership fees and monthly payments from each member help fund a medical resource pool from which members can draw when they need health care. There may catastrophic illness limitations and annual deductibles.
Discount membership programs are similar to Medical Sharing Programs since they are not insurance coverage, but there are some differences. Members pay a one-time fee and regular monthly premiums and the program gives members access to a group of providers who steeply discount all medical procedures including dental care, surgery, vision, chiropractic treatment, pediatric care, medical supplies and physical therapy. In effect, members get the wholesale rates that insurance companies receive. Members pay the discounted fee at the time of service. There is no paperwork to file and the medical practitioner gets their money right away so it is beneficial to both parties.
The Consumer Health Alliance was organized in 2002 to offer health benefits to the uninsured. If you have a pre-existing condition and cannot get health insurance, you can become a member in this plan and have access to benefits without paperwork, exclusions or limitations imposed by most insurance carriers. For the self-employed, The National Association of the Self-Employed offers insurance that can expand to serve as many as 5 employees as your business expands.
Health Insurance Alternatives – Conclusions
If you currently have health coverage, many of these programs offer supplemental benefit packages that may not be included in your plan including dental and vision coverage, prescription drugs and chiropractic care. There are also insurance companies that offer special plans and programs at the state level in different areas. If you research health insurance alternatives you can discover a plan that suits your budget and provides suitable coverage.