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Health crisis is a significant issue not only in America but across the globe. Unfortunately, the situation is far from over since a worrying number of people still lack comprehensive health insurance. In 2018, for instance, research indicates that over 27 million people never acquired health insurance. Additionally, purchasing health insurance premiums is a hassle owing to their expensive nature. Averagely an insurance plan that could cover an entire family exceeds $25,000 per annum. It is for this reason that many families and companies shy off from offering health insurance benefits.
Today, many people consider affordable alternatives to health insurance, owing to demeaned medical transparency offered at high costs. This article gives three healthcare options that individuals can contemplate going for as affordable alternatives to health insurance.
Off-Exchange Health Care Plan
Often, many people getting into traditional health insurance sign up to plans they do not need; it is appropriate to consider involving off-exchange firms. These firms will ensure that the insurance premium purchased perfectly fits personal needs and does not include complicated processes. Additionally, these companies offer several packages from bronze to platinum that suit individual beneficiaries, families, and small enterprises. Also, this off-exchange company integrates its packages with other benefits such as the ability to talk to a medical physician virtually.
Fixed Indemnity Plans
These are limited benefit plans that aim at covering medical expenses of up to a given time. In every medical care, a person receives paid for by the cover; there is a fixed amount per visit to the hospital. A fixed indemnity plan is flexible, and it can merge with other traditional health insurance plans to boost a person’s health care protection.
Pros
- Even though it is a non-deductible health care plan, it is directly paid to the recipient and can typically be used to pay for out-of-pocket medical costs.
- Its flexibility allows it to incorporate with other insurance plans for additional healthcare security.
- There is no need to be stressed about monthly/annual subscriptions since it only covers an intended period.
Cons
- Fixed indemnity plans do not cover all healthcare benefits outlined in the Affordable Care Act.
- The program will not include underlying issues.
Trade Alliances and Professional Associations
Today, many trade groups and associations are providing health care insurance as benefits to members in a similar way as faith-based groups. The groups usually gather funds from members into a corpus shared to cover for health expenses for the members. The rates payable towards these funds are meager, and packages are diverse to fit various subscribers’ categories.
Although affordable insurance alternatives to health insurance are beneficial, they cannot meet everybody’s needs. They are however sustainable in the long run in case traditional health insurance proves to be a hassle. Extensive research on various health insurance alternatives in the market is a plus to secure the most viable plan that gives exclusive benefits. The reality is that people are embracing these alternatives since they are working.
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