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The increasing difficulty to acquire employer-based health insurance and the passage of health care reform have encouraged more Americans to seek low cost health insurance options. In fact, in 2008, the number of persons with full-time employment yet without insurance was double the number of uninsured, unemployed persons. Even those who are insured may not be adequately covered. Experts estimate that, for bankruptcy cases that were induced by exorbitant medical bills, three-quarters of those declaring had health insurance at the time of their illness or accident. In this changing health care landscape, it's difficult to know where to begin looking for low-cost health insurance options. Cobra

When it comes to health insurance, it's important that there are no gaps in coverage. Recently unemployed people may be eligible for Cobra. The Consolidated Omnibus Budget Reconciliation Act of 1985, also known as COBRA, enables recently unemployed people to continue their insurance coverage. While the coverage remains the same and the premiums are reduced through the employer's group discount, those opting for COBRA must pay 100 percent of the cost. Since this bill can bite off up to 85 percent of unemployment benefits, many cannot afford Cobra insurance. Those were unemployed before May 31, 2010 may be eligible for a 65 percent reduction of Cobra premiums through the American Recovery and Reinvestment Act (ARRA) of 2009. This Cobra discount, which began with the ARRA of 2008, was not extended for those who became unemployed after May 31, 2010.

Private Insurance

If you want an insurance plan that is similar to what you received from an employer, you can purchase private health insurance. As you can imagine, without the employer discount, this insurance will carry high premiums. However, families with children may justify the cost with the increased doctor's visits that children need. With a private health insurance option, you won't have to worry about the financial risks of minor injuries such as broken bones.

State high-risk insurance pool

For those people who have pre-existing conditions, some states offer a high-risk insurance pool. Applicants usually cannot be turned down, yet these special insurance options have drawbacks. In almost all instances, there is a waiting list as long as 12 months. While you may get guaranteed coverage, the premiums may be higher than if you had shopped around for a private insurer.

High-deductible emergency health insurance

For relatively healthy people who can afford the cost of a doctor's appointment, a high-deductible emergency health insurance policy may offer true peace of mind. With this type of policy, the insured is covered for health costs after a deductible - usually a few thousand dollars - has been met. With this policy, insured persons don't have to worry about financial ruin should an accident or illness run medical bills into the tens of thousands. While these policies are useful and a great fit for some, caution should be exercised. It's not uncommon for unscrupulous insurers to sell policy that has limited benefits. Limited benefit policies may be attractive because of the high coverage amount, yet a closer look at the fine print will reveal that the coverage only applies to a specific service, such as room and board, while leaving the insured at risk for all other procedures and costs that are involved with a hospital stay.

Group organizations

An overlooked source of group-discounted health insurance are organizations. Organizations ranging from alumni groups to senior citizen groups offer insurance options. Although you pay all of the premium, you benefit from a group discount.

The health-care insurance industry is morphing into one that will serve the expanding needs of the consumers. Each year, new plans and solutions come to the market, giving people more low cost health insurance options

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Referred by: http://www.franchisefix.com/

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