Affordable health insurance can be elusive if you are looking to the private health insurance market for coverage. Being unemployed typically means being uninsured as well. The best source for help finding affordable health insurance is through government programs. Changes in the health insurance industry mandated by the health reform laws enacted in March 2010 may offer you new opportunities to find affordable insurance.
Medicaid
Anyone with low income and limited assets may be eligible for health coverage through the government's Medicaid program. Each state administers its Medicaid program with funding and guidelines from the federal government, primarily through the U.S. Department of Health and Human Services. Although each state sets its own eligibility criteria, federal rules generally require coverage for anyone who falls below the federal poverty level standards. The HHS publishes the Federal Poverty Level Charts each January. The best way for anyone to determine whether or not he qualifies for Medicaid is to apply with the Medicaid agency in her state.
Medicare
Medicare is an affordable health insurance program for certain groups of people: anyone 65 or older and anyone of any age with amyotrophic lateral sclerosis or permanent kidney failure that requires dialysis. Medicare coverage is divided into four parts. Part A provides inpatient hospital care and generally does not require a premium payment. Part B covers outpatient medical services, such as doctor's services and home health care. Co-payments and a monthly premium are required for Part B coverage. Part C, the Medicare Advantage plan, is an option for Medicare beneficiaries to obtain Medicare benefits through a private insurer. Part D provides a prescription drug benefit.
State High-Risk Health Insurance Pool
With the passage of health care reform legislation in March 2010, new options are now available for those persons who could not find or, for some, who could not afford health insurance in the private market. One new option is the implementation of a state high-risk health insurance pool which is designed to provide health insurance to uninsured persons who have pre-existing conditions. The high-risk health insurance pools are intended to be temporary, in place only until 2014, when a new health insurance exchange will start operating. Because these high-risk pools are new and not fully established, the issue of affordability has not been addressed in any federal regulations, but is likely to be addressed by HHS in the future.
Family Health Insurance
Another new option available as a result of the March 2010 health care reform laws is the broadening of coverage under family health plans. All private health plans are now required to permit children up to age 26 to remain on their parents' health insurance policy. This is true regardless of the child's marital status. For young people who may be unemployed or who are not receiving health insurance as an employment benefit, this is likely a more affordable option than obtaining an individual insurance policy from a private insurer.
Group Insurance for Members of Organizations
A source of affordable insurance that may be overlooked is group insurance offered to members of an organization. Due to the organization's ability to obtain a group discount on premiums, its members can take advantage of a premium rate that would not be available on an individual policy. This is especially true with nationwide organizations, such as AARP.
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