Medical Insurance For Low Incomes
When we consider health insurance for people with low incomes, it is very important to define what we mean by low income. If you mean that a family susbsists on an income below the poverty level, their solutions may be very different than a family with an income of $40,000 a year. Even though a family may have to tighten their belts to live on $40k, and especially to afford health insurance, this is actually not considered poor in the US.
The health insurance market is very competitive these days. Do not assume you cannot afford health insurance because there are a variety of plans out there, and you may be able to find a plan to fit your budget! Get Low Income Health Insurance Quotes Here.
Very Low Income Health Insurance Alternatives
- Medicaid is the federal and state public program for people who have a very low income and few assets. You can search the interest for places to apply for Medicaid in your state.
- PPARX.org has a handy zip code search for local health resources. These include sliding scale or free clinics, financial assistance programs, etc.
- County hospital systems also have health programs for people with low incomes.
Moderate Income Families
- CHIPS is the federal and state public health insurance for children of low to moderate income families. The guidelines are much more liberal than Medicaid. The income guidelines also depend upon the number of people in a family, so a family with 6 kids can make more money than a family with one child in order to qualify. You can also search the internet for the CHIPS program in your state, and you should find the information you will need to apply for it. One popular strategy is to purchase health insurance for the adults, but rely on CHIPS to cover kids. CHIPS has also been expanded to cover pregnant women who do not have health insurance that covers maternity.
- The county health system may have sliding scale health plans that are more affordable than private medical plans.
- Find individual health insurance with a very high deductible to lower premiums. You may have to pay more minor costs out of pocket, but will be covered in case of a severe illness or injury.
If you have lost your job, and are considering your options, look at some COBRA Health Insurance Alternatives on this page.