In the current times of economic turbulence, the high costs of insurance force millions of people to live without an insurance cover. But thankfully there are still some options in terms of low cost health insurance policies, which make it possible for almost everyone to have a their health expenses covered. However, most of the people are not aware of these policies that have made health insurance affordable for even the temporarily unemployed people.
The most common and advantageous of the various low cost health insurance plans is Consolidated Omnibus Budget Reconciliation Act of 1985 or COBRA. This plan is specifically designed to provide temporary health cover to people who have been laid off by their company or have left their jobs for a period of 18 months. The insurers cost of coverage is generally much higher and they are liable to pay a fee of 2% of the total coverage as administration fee
The other type of low cost health insurance policies are the individual plans, where the cost of the policy depends on the age, health and state of residence of the insurer. For people who are healthier and younger, these insurance policies can be quite cheap. However, for people who are aged, or have habits like smoking, heavy drinking, etc. that can be fatal for health, the policies can prove extremely expensive and it might even be possible that they might be refused any kind of coverage.
For families, consisting of four members and whose average yearly income is less than $42,000, the best kind of low cost health insurance pans are the government plans. Even though the elders in the family might not be eligible for getting health benefit sunder the government plans, they can ensure proper health care for their children by opting for this pan, which is definitely better than no health cover.