Health care reform has been one of the hot topics of the 2012 Presidential election, at times more fiercely debated than issues surrounding the economy and job market. Health care costs far exceed taxes for many people, and can mount quickly without insurance coverage. Furthermore, coverage may not provide sufficient financial relief if you do not have the right type of policy for your budget and medical needs.
Fortunately, companies that sell private health insurance through partnerships with multiple carriers can provide you with a broad range of coverage options. The result? You truly can customize your plan so that it is both affordable and comprehensive. Here are three strategies to evaluate.
Bridge the Gap with Short-term Coverage
Short-term coverage offers a solution to several different scenarios including finding yourself in between jobs and waiting for employer sponsored coverage to kick in after starting a new job. These policies offer coverage anywhere from 6 to 12 months. The point of short-term plans is to offer protection against unforeseen accidents or illnesses. As a result, services like immunizations, preventive care and screenings are not covered by most short-term insurance policies. It is important to note that this type of plan does not typically cover pre-existing medical conditions.
High Deductible = Low Premium
Provided you do not need ongoing medical care, a health insurance plan that carries a high deductible could be an attractive option because these policies offer low monthly premiums. In exchange for the advantage of extremely low premiums, you must pay all of your medical expenses until you meet the high deductible, which can mean thousands of dollars out of your pocket – except for preventive care, which insurers must cover 100 percent under health care reform. Therefore, high deductible plans are a good route to take for those who are healthy and do not have any pre-existing conditions.
Talk to Mom and Dad
Health care reform provides an especially nice advantage to young adults, who can now remain covered by their parents’ health insurance plan until they turn 26. So if you are fresh out of school and still looking for a job, or your entry level salary is not as robust as you anticipated, just give mom and dad a call.
Keep it Simple but Make Sure You Do Your Homework
Online resources like our partner, GoHealthInsurance, offer you the chance to access information on a variety of plans, and better yet, review quotes based on the criteria you enter. Today’s resources are designed to be time efficient and simple to digest, so there really is no reason to select coverage that is not right for your particular situation.