Best Affordable Health insurance companies in 2019

Best Affordable Health insurance companies in 2019
Best Affordable Health insurance companies in 2019

1. Medicaid

Medicaid is funded jointly by the federal and state governments. Those who are eligible will have access to the same benefits as a marketplace or private health insurance plan and still receive the same high-quality care.
The best part about Medicaid is that you can enroll at any time, and it provides free or low-cost coverage for anyone who is eligible. It’s hard to beat free because of that Medicaid is your cheapest option for health coverage in 2019.

2. Supplemental Coverage

Supplemental coverage is not real medical insurance. Fundamentally, you are surrendering a large portion of your advantages, and consequently, you get a low month to month premium. Supplemental coverage only pays out a lump sum of cash for a qualifying medical expense, so you can forget about benefits like preventive care. It’s not recommended to have supplemental insurance as your only source of coverage.

3. Short-Term Health Insurance Plans

Short-term plans are back thanks to the executive order signed by President Trump late last year known simply as Obamacare Relief. Short-term medical insurance plans offer little in terms of coverage, but their low cost makes them a great choice for the young and healthy. You probably won’t get your pre-existing conditions covered or preventive services paid for, but if you come down with any serious injury or illness, short-term plans will be there to save the day.

Short-term plans aren’t offered through the marketplace, so you won’t be eligible for subsidies, but should still be cheaper than it’s counterparts. Plus, you can enroll in short-term medical plans at any time.

4. Catastrophic Coverage (High Deductible)

You need to be under 30 years old to qualify for catastrophic health coverage. For those who are eligible, catastrophic plans offer low premiums with high deductibles. You can enroll in catastrophic coverage through the marketplace, which is good and bad.

The good news about catastrophic plans is that since they are sold through the marketplace they are required to offer minimum essential coverage. The bad news, they can only be purchased during Open Enrollment.

5. Student Health Insurance

If you’re a student in college, your school’s medical insurance plan will be your cheapest option. Student insurance plans are usually subsidized or discounted. Even though these plans are cheap, schools work closely with health insurance companies to provide comprehensive coverage, so you still have access to major medical benefits. Obviously, these plans are only available to students.