If you find yourself without health insurance, you and your family are at risk of hitting tremendous financial trouble in the case of a medical emergency or major illness. Maintaining good coverage also helps to ensure you have access to the most appropriate treatments and health care providers. But health insurance is a complicated topic, and it pays to know the various options available so you can choose the one that makes the most sense--both for your health and your finances.
Step 1
Find a job that offers insurance. This approach offers two big advantages. First, the employer typically pays a large portion of your premium each month. And second, you cannot be denied or charged higher rates because of a preexisting condition. For this reason, it is called group insurance; everyone in the group has access to the same coverage at the same rates.
Step 2
Check into insurance through an association. Even if you are self-employed, unemployed or working for a company that does not offer health insurance, you still may be able to enroll in a group plan, though it is likely you will have to pay the entire premium yourself. Trade, professional and alumni organizations sometimes offer group plans to their members, as do local chambers of commerce. The National Association for the Self-Employed offers health insurance options.
Step 3
Strike out on your own. Insurance companies offer a variety of insurance plans directly to consumers. You can search online for quotes and contact companies directly, or you can work with a broker who can search for an appropriate plan. According to "Smart Money" magazine, you can look forward to "steep monthly premiums, higher co-payments, outrageous deductibles and fewer benefits." Additionally, in most states these plans involve underwriting, according to "Smart Money," so you could be denied or charged a higher premium based on a preexisting condition.
Step 4
Consider a high deductible. A deductible is the amount you must pay out-of-pocket for health care before your insurance kicks in. Whether you are enrolling in a group plan or buying an individual policy, a rule of thumb is the higher the deductible, the lower the premium. Some plans are specifically called "high-deductible health plans" or "consumer-directed health plans." The low end of deductibles for such plans as of 2010 is $1,200 for individuals and $2,400 for families, according to the "New York Times."
Step 5
Look at public options. Among the possibilities for people who have low income or certain disabilities, who fall into certain age categories or who meet other requirements are Medicaid, Medicare and state high-risk insurance pools. For more information, call the U.S. Uninsured Help Line at 1 (800) 234-1317.
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