The cost of private health insurance can be too expensive for some working Americans and those who are on fixed incomes. Several alternatives exist for those who wish to obtain lower-cost coverage. These can include employer-funded health care, health coverage pools and certain government programs if the applicant is old enough or has a low income.
Employer-Sponsored Health Care
If you are unable to afford private health insurance on your own you may be able to afford coverage through employer-sponsored health coverage. Many larger businesses offer health benefits to full-time workers. If you are eligible for such a plan it may be a smart financial decision to take advantage of what benefits are offered. Employer-based health insurance can be cheaper than private health insurance coverage because businesses are able to negotiate group rates for coverage, which can lower premiums for all participants. The funds required to participate in this program is usually deducted from your paycheck so you don't have to worry about setting money aside to pay for it.
Preferred-Provider Organization
A preferred-provider organization network, or PPO, is a health plan where a group of consumers pool resources to create negotiating power in getting lower fees for medical services like visits to the doctor and prescription drugs. According to Counselling Resource's website, a PPO is not a health insurance plan, so anyone young or old can participate in a network without the need of a physical or submitted medical history. As of February 2011, the cost of participating in a PPO can vary from as little as $20 to $70 monthly.
Medicaid Programs
If you have a limited income you may be eligible for Medicaid coverage. This health insurance coverage pays your health care provider directly. Depending on the rules in your particular state, you may have a small co-pay associated with your Medicaid coverage. This means you may be required to pay a small portion of your total medical costs. Each state has its own income requirements for Medicaid eligibility, so it's important to check with your state's Medicaid Services department to determine if your income is low enough to qualify for benefits.
Medicare Coverage
If you are an older American who can no longer afford the high premiums associated with private health insurance, it may be time to switch to Medicare as your primary health care provider. Medicare is a federally funded program that provides health care to senior citizens who are 65 and older. Medicare is broken up into four parts: A,B,C and D. Medicare part A provides hospital coverage and is guaranteed to all Medicare recipients. Parts B and C provide additional medical coverage for things like doctor's visits for a small monthly fee. Medicare part D provides prescription drug coverage for an additional monthly fee. Your eligibility for all parts of Medicare is determined by the Social Security Administration.
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