The cost of medical services in the United States is somewhat ridiculous. Debts for medical treatment are one of the most common reasons for bankruptcy in the nation. It can be said that not having health insurance is economic suicide. And even also personal, since there are certain procedures, that if you do not have insurance or pay thousands of dollars in cash, you will not be able to have done.
That’s why most try to get insured. The problem: monthly premiums are every day higher. However, there are several government programs that can help you get health insurance at low prices, depending on your age or financial situation.
It should be noted that there is a period to apply in most cases. Today I will briefly describe what these programs are, when and how you can apply. Here it goes:
MEDICARE:
Medical insurance for:
- People age 65 or older
- Some people under age 65 with disabilities
- People of all ages with end-stage renal disease (permanent kidney failure requiring dialysis or a kidney transplant, also known as ESRD).
For this, visit your nearest Social Security Administration (SSA) office in your area.
MEDICAID:
A joint Federal and State program that helps pay for medical costs if you have limited income and resources and meet other requirements. People with Medicaid can get coverage for services that Medicare doesn’t cover or only partially covers, such as nursing home care, personal care, transportation to medical services, home and community-based services, and dental, vision, and hearing services. .
You may qualify for Medicaid if you have a low income and have on of the following situations:
- You are 65 or older
- You are under 19 years of age
- You are pregnant
- Have a disability
- You are a parent or an adult caring for a child
- You are an adult with no dependent children (in some states)
In many states, more parents and other adults can get coverage now. If you were rejected in the past, you can try again and you might qualify.
Now, what would happen if I didn’t qualify for either of these two programs? What can I do?
Well, there is another cost-sharing program for people with middle incomes called the Affordable Care Act (sometimes known as ACA, PPACA or “Obamacare”) where one of its objectives is to make health insurance accessible or available for more people. The law offers consumers subsidies (“tax credits”) that reduce costs for households with incomes between 100% and 400% of the Federal Poverty Level (FPL).
Now how and where do I apply? How do I know if I qualify? What does it cover? These answers will be in our next blog.
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