Affordable Healthcare
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Table of Contents
Affordable Healthcare: Government Schemes
Affordable Healthcare: Government Schemes
When it comes to buying health insurance, many people look for excuses. They do not consider it as an investment but as an out-of-pocket expense. However, there are several affordable healthcare plans that offer broad medical cover without putting burden on the pocket.[br]
Affordable Healthcare: Government Schemes
In most countries, the idea of affordable healthcare corresponds to government-approved schemes. Government healthcare plans are meant especially for low-income families. These policies help extend healthcare benefits to the lowest strata. Some of the popular government healthcare plans around the world are:
- Medicare – US
- Medicaid – US
- State Children’s Health Insurance Program (SCHIP) – US
- TRICARE – US
- National Health Service – UK
- Employees’ State Insurance Corporation – India
- Medicare – Australia
- National Health Insurance – China
Affordable Healthcare: Look for Group Plans
Group insurance plans are the best way to purchase affordable healthcare. Most organizations purchase a group health insurance plan for their employees. It adds to the employee benefits and helps retain good quality manpower. An employer’s healthcare plan is always the best possible deal. It offers higher medical and cost benefits, as compared to an individual health plan. However, employer’s healthcare policies differ from company to company, based on their contractual agreement with the insurer.
Individuals can also purchase a group policy through social clubs and resident welfare associations.
Affordable Healthcare for Individuals
If an individual is not eligible for group or government insurance policies, there are still several methods to buy an affordable healthcare plan. Individual healthcare plans are particularly meant for self-employed individuals, unemployed people or students. To extend the benefits of healthcare, the government offer subsidies to certain selected insurance companies. These companies then provide individual or family healthcare policies at affordable rates.[br]
One can purchase individual medical insurance from a private carrier. Although private healthcare plans are expensive, they are worth making an investment on, given the rising cost of medical services. A comparative study of similar healthcare plans from different insurers certainly helps to save money.
Alternatively, self-employed individuals can form a club and ask for group benefits while purchasing a healthcare policy from a private carrier. This helps to get greater medical coverage at a comparatively low cost.
