Finding affordable health insurance can feel overwhelming—between premiums, deductibles, networks, and subsidies, it’s easy to get lost in the options. But with the right approach, you can secure coverage that fits your health needs and your budget. Whether you’re self-employed, between jobs, or just trying to cut monthly costs, this guide will help you find health insurance without breaking the bank.

Finding affordable health insurance takes a little time, but the effort pays off. With today’s expanded subsidies, government programs, and free support resources, there are more ways than ever to protect your health without emptying your wallet.

Explore Medicaid and CHIP

If your income is on the lower side, Medicaid (for adults) or CHIP (Children’s Health Insurance Program) may be the most affordable—and comprehensive—option. These programs are government-funded and often come with no premiums or very low out-of-pocket costs.

Eligibility varies by state, so it’s worth checking even if you’re unsure you qualify. Some states have expanded Medicaid under the Affordable Care Act, allowing more people to enroll based on income alone.

Don’t Forget Employer Coverage or COBRA

If you recently left a job, COBRA allows you to continue your employer’s group plan temporarily. It’s typically more expensive because you pay the full cost (no employer contribution), but it might be more affordable in the short term if you need consistent coverage or have ongoing treatment needs.

Also, if your employer offers coverage—even part-time or through a spouse—it’s usually more cost-effective than individual market plans due to shared premium costs.

Use a Licensed Insurance Broker (For Free)

An insurance broker or navigator can walk you through all the options and help you compare plans. They know which insurers have better networks in your area, and they can often help you apply for subsidies or find plans you might miss on your own.

Best part? Brokers are usually free to use—they’re paid by the insurance companies, not you.

Final Tips for Saving Money

• Choose a higher deductible if you’re healthy and don’t expect frequent care.
• Stick with in-network providers to avoid surprise bills.
• Use preventive care services, which are free under ACA-compliant plans.
• Consider a Health Savings Account (HSA) if you choose a high-deductible plan—it gives you tax benefits on money set aside for medical costs.

For individuals aged 65 and older—and for some younger people with certain disabilities—Medicare is a cornerstone of affordable health coverage in the U.S. Unlike private insurance plans or marketplace coverage, Medicare is a federally funded program that offers comprehensive medical benefits, often at a lower out-of-pocket cost.

What Does Medicare Cover?

Medicare is divided into several parts, each covering different aspects of healthcare:

• Part A (Hospital Insurance): Covers inpatient hospital stays, skilled nursing facility care, hospice, and some home health services.
• Part B (Medical Insurance): Covers doctor visits, outpatient care, preventive services like diabetes screening, and medical equipment.
• Part C (Medicare Advantage): A private plan that combines Parts A and B, and often includes prescription drug coverage and extra benefits like dental or vision.
• Part D (Prescription Drug Coverage): Helps cover the cost of prescription medications.

Who Qualifies?

To qualify for Medicare, you typically need to be:

• 65 years or older, or
• Under 65 with certain disabilities, or
• Diagnosed with End-Stage Renal Disease (ESRD) or ALS

Enrollment usually begins three months before your 65th birthday and lasts for seven months. Missing this window can result in penalties unless you qualify for a Special Enrollment Period.

Is Medicare Affordable?

Yes, Medicare can be very cost-effective. Most people don’t pay a premium for Part A. Part B does have a monthly premium (starting at about $174.70 in 2024), but financial assistance programs are available for low-income individuals. Medicare Advantage plans often come with $0 premiums and additional perks, depending on the provider and your location.

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