How to Pay for Health Insurance on Your Own

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In order to avoid the staggeringly high costs of medical care, health insurance is a necessity. The most affordable health care plans are those offered through group plans, such as through your employer or the government. Sometimes, however, circumstances can change and you might find yourself without the coverage you once had. Securing individual health care can be done, but most plans are set up on a monthly premium, and if you miss even 1 payment, then you may no longer be covered by health insurance. The premium amount can vary, and it can depend on your age, circumstance, and required coverage. For some it may be an affordable cost, but for others the monthly premium can become difficult to afford. Here's how to pay for health insurance on your own.
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    Shop around.
    • Not all insurance premiums are created equal. In fact, they can vary wildly from company to company. Different insurance plans will offer coverage for different kinds of medical aid; some can be quite comprehensive while others only cover the basics. The amount of the deductibles can also change radically from plan to plan. Look for a plan that covers the bare minimum of what you need, then look at the price of the deductibles and co-pays. Typically, the least expensive plans will offer the highest deductibles and co-pays. This is fine if you are healthy and don't expect to use your coverage except in case of an emergency. Basically, find the cheapest possible policy that offers the coverage you need.
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    Change your budget to allow for paying the premium.
    • If you are working but paying for your own insurance, then saving the money to pay each month's premium will likely be easier than if you are out of work. Set aside enough money from each paycheck to cover your premium. Do this before you spend any of your money elsewhere.
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    See if you qualify for aid.
    • If you're not working, are disabled, or don't make much money, you may qualify for medical aid. There are social programs in place that can alleviate the costly burden of having to pay for medical insurance. Even if you don't qualify for medical insurance or you can't afford it, there are programs in place to make sure your children have access to medical insurance.
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    Join an association.
    • If you're self employed, then you may be able to join a professional association linked to your business. Many of these associations offer group insurance plans with affordable premiums. You can deduct the membership fees and take advantage of their group plan, making insurance affordable.
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    Get a job.
    • Even if it is only part-time work, get a job. Many companies extend their health insurance to part-time employees; find a company to work for that offers health insurance as a benefit. If your current job doesn't offer insurance, consider finding a new job that does.
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    Open a health savings account.
    • If you live in the United States then you can open a health savings account. This is a tax-advantaged savings account for medical needs. It is available to taxpayers who are currently enrolled in health plans with high deductibles. The money you put into the account is not subject to federal income tax when you deposit it, and the funds roll over into the next year if not used. If you need to pay for medical deductibles, then you can withdraw the money and use it to pay your fees.
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    Take out a loan.
    • Getting a personal loan from the bank to pay a year's worth of health insurance premiums may result in a discount on your premium amount. Just make sure that you can pay back the loan in a timely manner.


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