Help Paying for Health Insurance
Healthcare costs are on the rise, and paying for insurance can oftentimes be a big monthly expense. Insurance premiums can cost hundreds of dollars per person, and sometimes, healthcare insurance costs can take five percent, even up to 20 percent of your income.
The United States government recognizes the increasing cost of medical services. As a result, the government provides several programs that help reduce the price of health insurance. If you meet certain age and income requirements, you may qualify for cheaper coverage.
If you are having trouble affording quality health insurance, there are government programs that can help you enroll in high-quality and low-cost health insurance. Sometimes, you may be able to receive healthcare through the government completely free.
The federal government and affordable health insurance companies lower insurance premiums and healthcare costs through a few specific programs. Each program has different requirements you must meet to enroll and receive government assistance.
Government assistance can come in various forms. Three ways to receive government assistance are:
- Subsidies. Government subsidies reduce your insurance premiums automatically. The government pays the insurance provider directly, and your provider bills you for the difference. You can compare and apply for affordable health insurance plans on the federal Health Insurance Marketplace.
- Medical grants, which are payments for health care expenses.
- Insurance programs. You may be able to enroll in a government insurance plan if you meet either or both age and income qualifiers.
You may also have lower insurance costs if you are a part of group coverage. Group Insurance is coverage for a group. Group insurance has lower costs because the provider’s risk is spread out through all the members.
Typically, you can get a group insurance plan through an employer. If your spouse has group coverage through their job, you may be able to join their plan.
If you are self-employed, you may be able to join freelance unions to be part of their coverage. You can also shop for your insurance privately and save with premium-lowering subsidies.