Budgeting For Affordable Health Insurance When You Are Your Own Boss Or Unemployed | Insurance

Budgeting For Affordable Health Insurance When You Are Your Own Boss Or Unemployed

Written by Michael Miller

Thursday, 31 December 2009 12:14

by MichaelMiller

If you are unemployed or self employed it may be easier to get insurance than you think. Finding affordable health insurance is possible but you may not believe it. However you can find an affordable rate and you will finally get the insurance for you and your family you deserve.

It is unfortunate but there are more than forty million people in America that don't have medical insurance. More than that number does not have dental insurance. Most people who are going without insurance claim it is too expensive and they cannot afford a monthly premium. Some may be because they feel it is a luxury they can go without, especially a single person.

If you have been let go or downsized from your job you have a legal option to sign up for COBRA. It is a federally mandated program that you can pay into for up to a year. This gives you an option to maintain your coverage that you currently have.

But if you can at all possible pay for COBRA payments do so. You will keep your same benefits and if you have pre-existing conditions you will keep you coverage on them where some insurance companies won't carry you with those conditions. You can also keep up on your prescriptions as well if you have monthly necessary medications you need to take.

In searching for an insurance company to sign up with you can expect to pay up to four hundred dollars monthly for a family coverage plan. This will be with a one thousand dollar deductible. For a higher deductible it will be a lower payment. You will need to consider if this is acceptable to you. The cost of premiums go down if you are single or just have two people to cover such as you and your spouse. You can also get discounts for being non-smokers so ask if they have that option.

If you have to choose between a higher deductible or less coverage go for the higher deductible. You do not want to be left without a policy that covers what you need. It is better to go with the lower monthly payment at a higher deductible and pay out of pocket for more. This is because if you do have an instance where you need major coverage you will have it which will save you money in the long run.

When you are looking for insurance you need to make sure you have at least three quotes to consider. Check to see if your doctors are covered in the programs you are considering. You can find this out before you sign up for insurance than after and make a costly mistake. Factor in dental care as well as this is important coverage that you should not go without.

Be smart when looking for affordable health insurance and do your research into reputable companies. Seriously consider COBRA if you have lost your job to keep up insurance as you look for a new job. Also make sure you consider not sacrificing quality coverage for a low deductible and go for a settle for a higher deductible to keep your monthly rate down yet still have the best coverage when you really need it.

DISCLAIMER: This article is provided as information only and is not to be taken as financial advice.

When you go online to look for affordable health insurance it can seem horrible. With so many different health insurance plans you need to get tips to help out. Find those tips online today!