Finding affordable health insurance is not an easy task. Hundreds of possible policies and plans are on offer. So, what is the best way to sift through all of those options to find healthcare that does not leave your bank account devastated each month, or worse yet, underinsured?
Selecting a health insurance product when you are under 65 years of age can be tough. The following are great places to begin your research for health insurance if you are under the age of 65 and how to easily get health insurance.
If you are under 65 years of age you may still qualify for government offered health insurance. Several factors are considered when determining eligibility for health insurance coverage at a lower rate. Obviously, one of those considerations is going to be how much money you make each year, but other criteria are also considered.
Currently, if you are single and make less than $13,000 a year then you qualify for Medicaid.
A family of four making a combined income of only $26,500 per year also qualify for Medicaid.
What is Medicaid? If you are not retirement age, but meet the federal poverty guidelines then a program similar to Medicare is offered to you. How much you pay is based on your income, how many people are in your family, what sort of additional government aid you already receive as well as your health status.
Eligibility requirements for Medicaid will vary by state, but most households may qualify if their earnings are less than 133 or 138 percent of the federal poverty level. Be sure to check with your state’s Medicaid program, but the following are the FPL guidelines for Medicaid and may let you know if you may qualify:
- 1 person – $14,580
- 2 people – $19,720
- 3 people – $24,860
- 4 people – $30,000
- 5 people – $35,140
- 6 people – $40,280
- 7 people – $45,420
- 8 people – $50,560
For example, those who are suffering with ALS or renal disease, or those already receiving insurance for a disability, then your eligibility is almost guaranteed.
You must qualify through your state’s eligibility standards as well. Each state configures their own criteria in addition to the federal criteria, so a good first step if you feel you qualify is to go to your state’s Medicaid website and use their eligibility tool.
Once you qualify then you may have little to no out of pocket premiums to pay each month for your healthcare costs. Just like other types of insurance you must renew this and qualify for it each year.