Find Affordable Coverage: Health Insurance

As health costs continue to rise each year, many are finding it increasingly harder to afford basic health care and health insurance in the United States. The good news is that with diligent strategies, research and planning, most families and individuals can still obtain affordable health insurance plans. 

1. Check your eligibility for government health insurance programs. If you have a low-income and are pregnant, have dependents or have a disability, you may be eligible for low cost health insurance through Medicaid or Medicare. Contact your local department of social services to find out what is available for you.

2. Improve your health so you're less of risk to insurance companies. If you are buying health insurance from a private company, you will have lower premiums if your health status is good. Quit using tobacco, lose weight, exercise, lower your blood pressure and cholesterol, and then apply for better rates.

4. Compare rates between companies. Insurance companies try to remain competitive, and new rates and plans are introduced regularly. Search online on the government's healthcare website to find the latest health insurance quotes for a number of different companies.

5. Consider a high-deductible plan. By simply going with a deductible of $1000 or higher, you can lower your premiums to an affordable level. Another option in this realm is a Health Savings Account (HSA) plan. With an HSA, any income you contribute to your health savings account will not be subject to income tax. Unlike flexible savings accounts, all your unused money in these accounts will roll over each year.

6. Think about getting only a catastrophic plan. Although these plans will not cover basic preventive care, a catastrophic health plan will cover major medical interventions at lower raters. Major medical expenses are a prime cause of financial ruin and bankruptcy for American families, so ensuring you have this coverage should be a high priority. You can then use low-cost health care through community clinics for basic services like check-ups, vaccines, and routine lab work if you cannot afford to pay full price on those services.