Health Insurance is often mandatory for corporate entities and private individuals, and so there is no chance you will escape the need to choose between options Insurers offer. Yes, some types of policies are too expensive, and if you have a family with several dependants, Insurance can drain you financially.
Not many are aware that there are great alternatives to Health Insurance that may be even more convenient and beneficial than general and common Health Insurance policy. Besides, traditional health insurance options may not cover the whole list of services you want to have an access to, and on the top of that, you are not free to choose the doctor, the clinic, and the quality of medical services.
Thus, if you are not obliged to acquire a traditional policy these alternatives are totally worth to take a look at.
Here is the review of the best alternatives to the traditional Health Insurance to choose from.
1. Medical cost-sharing Program
This program allows several individuals or families create a general pool to acquire a common policy in order to share the medical costs. When someone from this group needs a medical care, the group pays for it, excluding deductibles as these expenses can vary, depending on the type of medical help required. Significantly lower overall cost makes the cost-sharing program the best alternative to the conventional health insurance. Besides, such program is often offered by faith-related organizations and that brings additional benefits, as these organizations often provide free birth control care.
The biggest advantage: the monthly fees for medical care is way lower comparing to fees under traditional Health Insurance policy the family would pay. Moreover, medical share programs provide an opportunity to negotiate terms with the clinic so the fees and deductibles could be even lower.
2. Health Savings Account
HSA covers all medical expenses the person takes, including visiting the doctor, the cost of medications, manipulations, analysis, and other. Above that, Health Savings Account also allows coverage of extreme cases like injuries taken in catastrophes or related illnesses.
The biggest advantage: Health saving account provides great tax advantage and it allows a person to get the high-quality medical care on a broad variety of cases.
3. Health Insurance policy with high deductibles
The bigger the deductibles the lower the premiums, as deductibles are the amount an individual is willing to pay from his own pocket in a case when he will need a medical care.
This option is great for people with good strong health and young people who do not foresee any complications with health and thus, they will likely to require medical help very rarely. If you consider yourself a person with the strong health, take a look at the catastrophic health insurance for extreme medical cases.
The biggest advantage: a policyholder pays significantly lower fees (premiums) and he will pay only in a case of unforeseen and urgent (or catastrophic) events that require intense medical help, like traumas, accidents, etc. If nothing major happens the policyholder saves 100% of the money.
4. Christian Health Share Ministries
Non-profit organizations, called Christian Healthcare Ministries offer a totally different approach to medical care needs. Instead of providing any form of insurance where policyholders have to pay premiums, all med bills are shared among the group of members of Christian Health Share. On demand and upon the event where medical help is needed by a member of the program, the expenses are divided among the members equally.
Each member has a certain quota for having medical care. The big plus is that often Christian help organizations provide significant discounts or even free access to family planning services.
The biggest advantage: A person or a family can use any type of medical care, while bills are shared among the group of members. You can save up to 90% of medical costs, comparing to the premiums for traditional Health Care Insurance.
5. Medical Services discount card
There is a variety of medical service cards you can acquire if you prefer to pay cash for your medical help. According to Affordable care Act, in a case you have decided not to use Health Insurance, you have to take into account you’ll face taxes for not having a policy.
Discount cards offer families a great freedom to choose doctors, clinics and hospitals they prefer, so the discounts can be given for prescribed drugs, for services of physicians and for any other specific medical manipulations and procedures. An individual or a family can save up to 70-80% of total cost of medical services with discount cards.
The biggest advantage: A person who uses medical discount cards can have medical care from any preferred physician, without relying on Insurer’s choice. Like the Insurance policy, medical discount cards provide individuals with the discount on prescribed drugs, so one can save significant amount monthly.
6. Costco Insurance
Costco Insurance is the type of a health program a family can be purchased independently from the employer. The Costco Insurance is an excellent option for those who find their employer’s insurance way too expensive or for those who are self-employed. Costco offers several plans, matching different needs: individual and family plans, short-term plan, medical plan for small businesses and other types.
Typically, Costco policies cost considerably less than traditional Health Insurance policies, while the number and quality of medical care are at the same level.
The biggest advantage: Comparing to the conventional Health Insurance policy Costco is way cheaper. Besides, it is available for those individuals and families who do not qualify for their employer’s insurance or are not satisfies with the medical plan that policy offers.
7. Direct primary care
This is one of the newest option Americans have access to and it gains its popularity for a reason. An individual or a family can buy a so-called membership for visiting a physician during the certain period. It’s like a buying a fitness card that gives you the right to visit a gym. A physician provides a primary care member with the diversity of services on a monthly fee basis. This fee is fixed, whatever the number of visiting and whatever the type of medical services.
Direct primary care is great for families with children that need to attend podiatrist or physician regularly. Obviously, this membership doesn’t cover hospital stays or services of an intensive care and surgery.
The biggest advantage: You pay fixed monthly fee and get all sorts of medical services from the physician or a hospital you prefer. There are no unexpected and sudden expenses. It is one of the best options for families with several members who plan to visit a doctor regularly.