Having health coverage is important. The cost of regular medical care rises every year, and most people cannot afford the cost of dealing with a chronic disease, regular medications, or intense treatments for critical illnesses. There are a number of affordable New York health insurance options for the self-employed and for business owners, but it does take some research to find a plan that works best for your health needs and your income. You can make the job a bit easier by relying on an insurance broker to formulate a list of companies that provide the coverage you need at a price you can afford.
Comprehensive Coverage Vs. Basic Coverage
Many self-employed individuals purchase basic coverage because it’s cheaper. There is no dental or vision insurance provided with basic coverage. While this type of affordable New York health insurance will cover hospital stays and routine doctor visits, many of these basic plans do not cover procedures that happen outside of a hospital setting. This means that you may need to pay out of pocket for lab work, ultrasounds, and radiology treatments. Some plans do cover these procedures when done at an outpatient setting, but not you’ve met your deductible.
Comprehensive coverage is more expensive, but it often includes better coverage for procedures that take place outside of a hospital setting. You will also have coverage for regular dental and vision checkups, and owe less money should you need dental surgery or have a vision emergency.
Health Savings Accounts
One option offered by companies is the opportunity to open a health savings account. The money you contribute from your paycheck builds up throughout the year, and you are free to draw from it should you need extra money for medical expenses. Businesses use these accounts in conjunction with regular medical insurance to give employees a chance to cover out of pocket expenses left over after the insurance pays.
Employees can take advantage of health reimbursement when using a health savings account. This works great for employees who can afford to pay out of pockets expenses without having to delve into their HSA. As long as an employee retains all medical receipts, the HSA will reimburse the employee for out of pocket expenses, and the employee can use the money freely. Although it may seem difficult to find affordable New York health insurance, there are plenty of options to make comprehensive medical coverage affordable and available to everyone.
To find out about your options for affordable New York health insurance.
