With the rise of cost in the healthcare sector, various companies are providing the health insurance for the individuals. But the traditional health insurance plans are really expensive and therefore the individuals are seeking for the alternative plans. These plans may provide assistance while paying the medical bills without getting bankrupt. Let us discuss some of the alternative plans which are different from the traditional health insurance.
Medical Cost-Sharing Program: This is a very popular option where the medical costs can be shared between the members. The individuals who have joined this program can pull their resources, pay off the monthly fees like the insurance premiums and can even share each other's medical bills according to the requirements.
Instead of the deductibles, incident fee can be charged for every medical event, which is similar to co-pay. In this process, at first the member can pay as much as he can, after that the remaining amount is covered by the fees which have been accumulated by the other members of the program. Sometimes discounts are provided with the medical facilities or from the fees of the basic care physicians. One of the most attractive features of this program is that the monthly fees is generally less than the amount which a family will shed on the traditional health insurance plans. Some of the programs may exclude costs like the birth control or abortion.
Medical Services Discount Card: There are various individuals who want to pay their bills in the cash mode only. They will not even care about paying some penalties for not possessing the health insurance. Discount cards can be suitable for this segment of individuals which can be used for prescriptions or hospital services or both.
Sometimes, some specific card may require a membership fee just for a time; some other cards may charge a small amount of monthly fees and some cards may be completely free of cost. There are limitations about the usage of the cards, just similar to the health care plan which specifies a particular network of doctors and hospital services. The cards can even be used for dental services, which are not available with the traditional plans. These cards can be helpful in the catastrophic illness or insurance coverage of any injury.
Obtain A Primary Care Membership: Depending on a fixed monthly charge, you can easily obtain a membership of the primary care. Routine medical checkup, blood tests, pediatric care and the visits of the physicians can be included within the membership of primary care. This feature will surely not include the major injury treatment, surgery costs and the costs for the medical stays. For covering the catastrophic illness, you may go for the health insurance policy with low premiums.
Health Savings Account: The health savings account is a process of covering the medical bills in the tax-advantaged manner. Similar to the monthly fee programs of the primary care, the health savings account may include high deductible coverage for the catastrophic injury or illness. Employers and even individuals can avail the health savings account. Payments are generally deductions from pretax and there are no penalty charges for withdrawing from the savings account as long as it is used in medical category. According to the IRS, the maximum limit for the individuals are $3350 and for the family $6750 in 2016.
Free Health Clinics: In every state, you can find free health clinics within the union. These clinics provide free services to the lower income groups of people. The individuals who does not possess a health insurance plan can avail their services at very little cost, or sometimes a donation. Some of the clinics are entirely reserved for the HIV patients or the homeless individuals. Some clinics are there which provide the basic services at a very nominal fee for the middle income group people as well. You can easily find the list of free clinics through the internet which is available in your area.
Medicaid: This program is specifically for the lower income taxpayers. The individuals must fall in the category of a certain amount of income. For receiving this particular aid, there is a threshold limit for the resources and assets also. This program can help in paying the fees of the doctors and the bills of the hospitals. Some large organizations may sponsor some clinics which can provide the financial aid programs with the lowest level care. The individuals who possesses a high disposable income and cannot qualify for the coverage and have to count high amount of premiums, may think of the self-insuring. After a certain threshold, the medical expenses which were not reimbursed can also become deductible.
Sometimes, medical tourism facilitator can also be helpful when you are planning a trip in abroad for rendering the medical services. All the alternatives will not be helpful to all the individuals who are seeking medical help. It is very important that you understand your requirement properly and take actions accordingly.
