The cost of healthcare in America is at an all-time high and many people are having issues paying the monthly costs of healthcare insurance. The average cost of insurance premiums can end up costing hundreds of dollars for each person. For many people, the cost to get health insurance and stay covered can cost five to 20 percent of their monthly income.
To help combat the rising cost of medical service, there are several organizations including the United States Government that have programs designed to provide health insurance assistance.
If you are struggling to afford the high cost of health insurance, you can potentially benefit from government programs that can help you enroll in quality health insurance at an affordable price. Applicants who meet the designated age and income requirements may be eligible for affordable health care insurance. In certain circumstances, you may qualify for healthcare that is completely covered by the funds provided by the government.
Government assistance for health insurance is provided in a variety of forms. Each program will have different eligibility criteria to qualify for government benefits. The three main methods that the government provides health insurance assistance is through:
- Government Subsidies – The government helps to reduce your insurance premiums by paying subsidies which go directly to the insurance provider. After the subsidy is paid, your insurance provider will bill you for the remaining costs. If you choose this option, you can compare the cost of different affordable health insurance on the Health Insurance Marketplace managed by the federal government.
- Medical Grants – Medical grants are used to pay for an individual’s health care expenses directly. Personal healthcare grants can be used to assist with proper health care, nutrition, and paying for medical bills.
- Insurance Programs – There are government health insurance plans available for you if you meet the age and income requirements to qualify.
Another method of saving money and cutting the cost of healthcare insurance is by being a part of group coverage. As the name suggests, group insurance is healthcare coverage for a group. The benefit of group coverage is the lower costs because insurance providers take on less risk by spreading it out through all the members in the plan.
In most cases, you can sign up to a group insurance plan through your employer or business health insurance. You can also join your spouse’s group coverage plan through their job if you qualify.
For freelance or self-employed workers, there are freelance unions available that you may be able to join a group insurance plan with. Additionally, you have the option to search the Health Insurance Marketplace for insurance privately and apply for subsidies.