Good Health Insurance With a Low Deductible for a Single Person

Given the ever-increasing cost of health care, health insurance is an important part of everyday life. Prescriptions, doctor visits, hospitalization ... it all adds up, and it adds up to a lot. The deductible, or amount you pay out of pocket before the health insurance pays benefits, can range anywhere from nothing to thousands of dollars. The monthly premium can vary dramatically, too. Families can be expensive to insure; singles are typically the least expensive, depending on age and health, of course. This can put good health insurance plans with low deductibles a bit more within reach for a single person.

Parental Coverage

• If you're age 26 or younger, you can stay on your parents' health insurance coverage. This isn't the ideal for students or graduates who want to be independent, but swallowing your pride can provide access to affordable coverage. This may not be an option, though, if you have access to coverage through your employer.

Employer Coverage

• According to Healthinsurance.org, 57% of Americans get their health insurance through their employer. Generally, employer coverage is lower in premiums than individual coverage, particularly if you're single and just covering yourself. Employer plans are usually low-deductible, and may be HMOs (Health Maintenance Organizations) or PPOs (Preferred Provider Organizations). Employer coverage is also guaranteed, so even if you have a health condition, you can still qualify.

Individual Coverage

• You can also purchase low-deductible, quality health insurance through a broker or directly from an insurance company. There are numerous websites that offer multiple quotes, so you can compare easily. Pay attention to the deductible, the monthly premium, and the type of network. Health insurance is regulated by each state; if you're looking for information about the companies you're considering, contact your state's department of insurance. There are also ratings companies like A. M. Best. that provide independent ratings of insurance companies.

Medicaid

• If you're truly struggling financially and are pregnant, have children or are a senior, you should consider applying for Medicaid. Medicaid is jointly funded by the federal government and your state; guidelines for income and who can be covered vary by state. In general, Medicaid is comprehensive, with no premiums and very low deductibles and co-pays. Your provider choices may be more limited, as not all doctors accept Medicaid, but if you're having financial difficulties, it can make a significant difference. To apply, contact your local social service or Medicaid office.