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Alternatives to Expensive Health Insurance

As health-care costs continue to rise, health insurance companies are charging more in premiums to combat these increases. Many regular health insurance plans have premiums that are so expensive, some consumers cannot afford to pay them. If this is the case, you have some alternatives to paying expensive insurance premiums.

  1. Medical Discount Plans

    • One alternative that you could pursue instead of a regular health insurance plan is a medical discount plan. A medical discount plan is an arrangement with medical facilities to charge a lower amount for services as long as cash is paid at the time of service. Medical discount plans often negotiate with a large network of facilities so that customers can gain access to discounts for many different medical procedures. Medical facilities accept these plans to help improve cash flow instead of waiting on money from insurance companies.

    High-Deductible Insurance Plans

    • While a traditional health insurance plan may have very high premiums, getting a high-deductible health plan could make the coverage more affordable. High-deductible health insurance plans have lower premiums because the patient takes on more financial risk on the front end of the care. You can also open a health savings account with this type of plan. This will allow you to save pre-tax money to pay your deductible and other costs that are not covered by insurance.

    Government Programs

    • Another alternative to consider is getting help from government programs. In many areas, local and state governments have medical programs that can help pay for the services you need. The local health department may be able to give you much of the medical treatment that is required. You could also qualify for Medicaid if you have a low income and few assets. You can check with local government agencies to see if any other programs are available.

    Medical-Sharing Plans

    • In some areas, you can gain access to medical sharing plans as an alternative to expensive insurance plans. A medical-sharing plan is a program which involves sharing the medical costs of everyone in the plan. When you join the program, you start paying a certain amount of money each month that is used to pay for other people's medical bills. When you have a medical bill that qualifies for coverage, others in the plan send you money for your bills. This is often used by religious organizations as a way for those with similar beliefs to share medical bills with each other.

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