Low Cost Health Insurance - Knowing The Terms And Alternatives


 Low Cost Health Insurance - Knowing The Terms And Alternatives

Ever wonder how much health insurance would cost if you didn't have a job? It's not hard to find out, because it's actually surprisingly complicated. The average American spends nearly 12% of her monthly salary on health insurance premiums, and that number only goes up with age. If you happen to be one of the unfortunate few who are unemployed or low-income then those numbers will consistently climb. In fact, in 2018 alone, the average Americans property tax bill is projected to jump by nearly $3,000.

Given these financial ramifications associated with having health insurance (or the lack thereof), it can be tempting to forego buying any kind of policy at all. However, before you make any kind of decision, there are a number of factors that you should know. In many cases, depending upon your current situation and personal finances, it might be more worthwhile for you to buy health insurance than to completely forego it.

If You're Unemployed or Low Income

Assuming that your current financial situation is not the fault of your own (i.e.: the bills aren't piling up because you're buying too much stuff), then staying uninsured might actually be a pretty big mistake on your part. Unfortunately, if you don't have insurance, then any health issues you have will most likely lead to an even bigger financial hole than the one that got you into this situation in the first place.

For example, say that you have a heart attack and end up in the hospital. While you are there, they treat your heart attack and do some other tests to make sure that it doesn't happen again. This all sounds pretty simple, right? However, if you don't have health insurance then don't expect to be billed for just the cost of treating your heart attack. In fact, it is estimated that a single trip to the emergency room will cost about $5,000 on average - and that's before any follow-up treatment! Given this astronomical price tag, it doesn't take a mathematician or accountant to realize that going uninsured is a really bad idea unless you have enough money lying around somewhere to cover these expenses.

If You Have Insurance at Work but Nobody is Paying Your Premiums

Whether you're currently employed or not, if your health insurance policy is being paid for by your employer then you have a number of loopholes that are keeping you from having to pay anything. Unfortunately, if your employer isn't paying for your premiums (or at least part of them) then you're going to have to pay the full price in addition to the amount that they are not paying. However, depending upon your situation, this might be affordable enough to let you get away with it. For instance, sometimes employers cancel policies even though they have already paid a large sum on them and can continue paying them up until the time that the policy expires. Or, if your employer is not offering you the insurance at all but you have been told that it is required by law, it might be possible to pay for the policy on your own if you are low-income or otherwise unable to afford the premium.

If You Have Insurance and You're Not Paying Your Premiums

While this situation should be fairly straightforward for most people, the truth is that uninsured Americans will actually spend quite a bit more per year on health premiums than those who do have coverage (despite having to pay a smaller percentage of their income). To put this into perspective, according to several different reports, a healthy 30-year old man will spend $3,285 more on health care over the course of a year than a healthy 30-year old man with health insurance.

If You Have Insurance and You're Paying for It

If you're currently employed and paying for your own health insurance (premiums, co-pays, etc) then it might be tempting to cut costs by dropping your policy. However, in most cases it will actually cost you more to forego your health insurance plan and pay out of pocket for medical bills than it will if you have the coverage. For instance, a new independent study has shown that if you are uninsured and fall ill, you will cost the system more in emergency room visits, hospital stays, and prescription drugs than if you have insurance. Essentially, dropping your coverage is really only beneficial when you're low-income or jobless.

If You Have Uninsured Life Insurance

As an added bonus for those who happen to be uninsured at this time in their life - life insurance policies can actually come into play quite often when it comes to medical bills. Whether your life insurance covers you in the event that you become ill or injured or is held for an unimaginable reason, it will cover you in the event that any portion of your medical bill goes unpaid. In many cases, family members can even use life insurance to help pay for medical bills on their parent's behalf.

What are some other ways that health insurance can help me? Click here for more information.

Putting it All Together: A Comprehensive Listing of Life Insurance So You Can Know Exactly What You're Getting Yourself Into!

Life Insurance for People Who Need Money When THEY Need it Most...

How Much Do You Need for Health Insurance?

The Bottom Line: Buying Health Insurance isn't as risky as you might think. And "Don't do it if you can possibly help it!" Learn why at the link below!

Who Needs Homeowners Insurance? Many people choose not to buy homeowners insurance because they are worried that they will pay too much to have coverage, or because of the hassle of dealing with all the paperwork and claims. However, recent studies show that those who don't have homeowners insurance often end up paying a much higher price than those insured by their state's government. This is because there are numerous costs that are not covered by the government, including: Water damage

Wind damage

Electrical fires

Earthquakes (sometimes) So rather than taking a risk, buying homeowners insurance from an agency can be a safer option. And while paying more might seem like a minor inconvenience at first, it can end up costing you a lot in the long run. For example, if you have your house damaged by flooding and wind but lack coverage for water damage or for electrical fires, then you will be stuck paying much more than if you had purchased homeowners insurance. Homeowners insurance usually gives you enough money to pay all of the bills and cover your needs until things are fixed or repaired.


When it comes to your health, having insurance is the best way to keep yourself safe and protected. And the same can be said about your home, as well. Just remember to learn all of the facts that you need to know before deciding what type of policy will work best for you!

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Sources: - Why Do I Need Health Insurance - LifeHealthPro.com - The Importance of Health Insurance - SmartMoney.

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