Dear Cheapskate: After 10 years in the same job, my husband was recently fired. I am an independent writer. I work mainly from home to be with our 3 -year -old son. We have always trusted my husband’s company for health insurance. Now we face pay for Cobra, and the cost of a family of three is outrageous. We have no choice but to maintain our coverage, but we must also pay for other needs such as a roof on our heads and food. Is there any cheaper health insurance alternative?
Dear Madeline: I totally understand how overwhelming that you must suddenly face the cost of cobra after the loss of employment of her husband. It’s enough for you to want to get your hair! But do not worry, there are definitely other options that could give it a space to breathe. There are some here to look:
Health Insurance Market (Healthcare.gov): This is an excellent place to compare health plans and prices that are available in your state. If you find something that suits your needs, you can request online. Open registration is executed from November 1 to January 15, but if you have lost coverage, you can qualify for a special registration period, which allows you to request outside the usual window.
Costco Health Insurance: If you are a Costco member, see your health insurance market through CBC health insurance. They offer plans for small businesses, large companies and individuals, and it is possible that you are surprised at how affordable they are. Visit www.costcoquote.com to explore options.
Medicaid: According to your income and home size, you can qualify for Medicaid, a program that offers free or low -cost health coverage. Be sure to check the medical website of your status to see if it is eligible.
Freelancers Union: as an independent writer, you may want to join the freelancers union. They provide affordable group health insurance plans for independent workers. It is definitely worth taking a look at www.freelancersunion.org.
Short -term health plans: They are designed to offer temporary coverage, especially if you and your family are healthy. They can be more affordable than it charges, but keep in mind that as of September 1, 2024, short -term plans are limited to four months, including renovations. You can get more information about short-term plans at www.healthinsurance.org/short-term-health-insurance/.
Health exchange ministries: This option can be more affordable, but it is important to know that they do not cover everything that traditional insurance would. These ministries work by members who share medical costs from each other. Medi-Share (Medishare.com) and the Samaritan ministries (Samaritan administrations.org) are two options to explore.
Community health programs: Some local health programs or clinics offer reduced cost services. Consult with the department or health center of your community to see what is available.
Health plans sponsored by the employer: I suppose her husband is looking for a new job. Keep in mind that even part -time positions sometimes come with health insurance benefits. That could be a stop option that is worth exploring while looking for its next full -time position.
High deductible health plans: if your family has good health, an HDHP matched with a health savings account could help reduce your monthly premiums. He will pay more than his pocket for routine attention, but he will save the premiums and can use the HSA for medical expenses. A health insurance corridor can help you navigate through your options and find the best plan for your family. They can even have access to plans that are not widely announced.
Just remember to carefully compare the premiums, deductibles and pocket costs before committing to any plan. Your goal is to find a solution that provides affordability and coverage you need.
Breathe deep. I am sure you will find something that works for you.
Mary invites him to visit her in everydaycheapskate.com, where this column is filed complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but the letters cannot be answered individually. Mary Hunt is the founder of Everydaycheapskate.com, a frugal life blog, and the author of the book “Debt Proof”.
