Less Expensive Alternatives to Health Insurance
Saving money on medical care is of interest to all of us.
Below are some different ways you can save money on health care listed from the lowest to the highest expected annual out of pocket costs plus premiums.
1. Lower or no-cost public assistance programs
A. Medi-Cal: for low or moderate income families and children
B. Healthy Kids Plans: children in low income families.
C. County Medical Services Program: adults without dependents
D. PCIP (Federal Pre-existing Condition Program): California individuals who have had no health insurance coverage in the last six months and have been rejected coverage due to health history.
Click to view a matrix of California's publicly sponsored plans
Or contact a counselor at the Uninsured Helpline: 800-234-1317
2. Fully self-fund your medical expenses: you pay for all your treatment: There is nothing inherently wrong with self funding. However, if you are over 40 you should consider using strategy 3 or 4 below. If you choose to self fund, there are ways to save on the expenses you may incur. They are:
A. Purchase a discount program such as the PeoplePlusCard and pay less for cost of care. See below for more information.
B. If you get a serious illness that is not an emergency, Medical Tourism may be the answer. You travel abroad for certain types of procedures, potentially saving up to 80% over typical U.S. costs. See below for WorldMed Assist, a placement counselor.
3. Partially self-fund your medical expenses: you purchase pre-determined benefits for certain conditions.
A. Critical Illness Plans: Can pay up to $100,000 for a diagnosis of a major illness (you decide how much coverage to buy). Call RealCare for assistance: 800-939-8088 x202
B. Cancer or Accident Plans: pays pre-determined amounts depending upon the incident. It includes payments for some well-care. See Aflac link below.
4. High Deductible Plans
A. Pay lower premiums than full coverage low deductible or co-pay plans.
B. You have the option to purchase programs listed in numbers 2 and 3 above to help offset certain out-of-pocket costs.
