Getting affordable health insurance was once close to impossible in the U.S. Many people were struggling to pay hefty hospital bills, which would leave them in debt. This changed in 2010 when the Affordable Care Act was passed, improving the way of life for many Americans. Many households earning a lower income would now have access to affordable health insurance premiums.
Even so, some Americans experience challenges when finding cheap health insurance premiums. This is mainly because of the varying health insurance premiums based on the place of residence, income, and number of members. If you are in this predicament, then you have come to the right place. We are going to review 10 of the most affordable health insurance service providers for 2022 to help you in making the right decision.
What is Health Insurance?
Before diving deeper into the companies offering health insurance, it is essential to understand what health insurance is in the first place. It is a system set to fund medical expenses by contributing or paying tax into a common trust.
The system can either pay for all the medical expenses or a fraction of the services specified in the medical insurance policy.
Health insurance is essential as it protects you from unforeseen medical bills. You are only required to pay a small amount towards the insurance and receive a wide range of health care services covered in the insurance. Don’t worry if you don’t have the full premiums for the insurance because here at Pay My Medical.com will swoop in to give you that loan.
Top 10 Most Affordable Health Insurance Companies
1. BlueCross BlueShield
Blue Cross Blue Shield makes the top of the list because it offers excellent healthcare options for people working remotely and buying their own coverage. Among the options is buying coverage that is accepted in all the 50 states of America as well as international medical insurance for short-term/long-term travel.
Pros
Longer industry experience
Good reputation
Worldwide insurance coverage
Accepted by many doctors and healthcare providers
Cons
The customer service helpline is always busy
Varying policies from the regional companies
2. UnitedHealthcare
With a huge clientele base (over 70 million) UnitedHealthcare is an affordable medical insurance company. Among the many options available, the company offers short-term health insurance for individuals who are in-between employment and other reasons. Coverage begins a day after submitting your application and you have the option to switch to long-term insurance without being penalized.
Pros
Long History in the field
Availability of short-term health insurance option
Plans offered are in line with ACA
Cons
Some states don’t receive the short-term plans
3. Kaiser Permanente
Kaiser has been in operation since 1945 serving many people in the U.S. Presently, the health insurance company attends to over 12.5 million members in 8 states, Washington D.C. included. Kaiser Permanente offers a synchronized and connected medical care approach that ensures you stay healthy.
Pros
Kaiser offers a Health Savings Account plan with no hidden charges
Availability of ACA-compliant plans for members
Offers top-notch customer satisfaction
Cons
Plans limited to only 8 states
4. Cigna
Cigna is the longest-serving insurance company in the world as it was established in 1792. Although Cigna insurance company has limited coverage nationwide, it offers special benefits for both individuals and employees. Its customers enjoy various benefits including $0 annual checkups. There is also a 24/7 health line that allows you to call in for medical-related answers to your questions. The company has an app that monitors your healthcare bill and general medical care. Employers get a wide range of plans, such as optical, dental, pharmacy, and overall wellness coverage.
Pros
24/7 support from a certified nurse
Comprehensive plan coverage
$0 yearly checkups
Cons
Most plans are only accessed in 13 states
5. Oscar
Oscar medical insurance company was founded in 2012. Being a new player in the industry (compared to its competitors), the company serves over 560,000 participants in 19 states. Plans to expand to a total of 22 states are underway. Although the company’s coverage is limited, it is doing better than most companies that came before. It offers valued policies for individuals in its coverage regions.
The company offers excellent remote healthcare services through digital platforms. This ensures user convenience as they can book appointments and perform other important tasks through the company’s mobile app.
Pros
Excellent digital healthcare service
Talk to a doctor at no expense
Convenient
Cons
Short history
Limited coverage
6. Humana
Humana was once a nursing home back in 1961 and evolved into one of the most reputable health insurance companies in the U.S. The company provides substantial coverage options for Medigap and Medicare Advantage clients. These plans are available in various forms, including plans like PPO, HMO, PPFS, and SNP.
Humana’s coverage options vary, however, the Medicare Advantage options are inclusive of basic benefits such as emergency transportation and hospital stays coverage, preventative care, telehealth, and specialist visits.
Pros
The plans are inclusive of a list of covered benefits in the Medicare Advantage
Cons
Some plans are not available in all states
Doesn’t offer conventional individual coverage
7. Anthem, Inc.
Anthem, Inc. is a health insurance provider that aims to improve many lives through its plans. Together with affiliated companies, Anthem serves over 106 million people. The company’s associated health plans have come up with different HMOs and PPOs, as well as network-based dental coverage, among other attractive attributes. Individuals and employers can choose from basic and wide-ranging plans that match their needs.
Pros
Offers standard health insurance plans and coverage to most people
Combines health insurance with dental, vision, and other policies
Cons
Doesn’t offer personalized services
8. Centene Corp
Centene Corporation is a health insurance company that is diversified and provides plenty of services to individuals who are uninsured and underinsured. It has a huge coverage area of 50 states and 3 global markets, serving over 25 million members. The company provides local medical plans and a variety of health insurance solutions. It affiliates with different healthcare organizations to provide specialized care, including behavioral health, pharmacy, dental, vision, and more.
Pros
Provides a comprehensive health plan for both individuals and employer groups
Attractive benefits
It actively involves the local
Long-serving history
Encourages both public and private partnerships
Cons
Some people report delays in customer service helpline
9. CVS
CVS Health is a healthcare insurance company that aims to revolutionize the health experience of its members. It offers a plethora of health plans at affordable rates. The company provides solutions that help people navigate smoothly in healthcare organizations. It is easy to access with the telehealth services offered.
Over the years, CVS has managed to open over 9,900 retail spots and has about 1100 walk-in clinics. Healthcare insurance offers diversified benefits and serves over 23, 400,000 members. Every year, the company records more than 1 million served members.
Pros
Offers a comprehensive list of health plans
Provides connected and affordable support
Cons
It has an overall rating of 3/5 stars meaning, a small group of people was dissatisfied
10. Molina Healthcare Inc.
Molina Healthcare is part of a Fortune 500 company that deals with government-sponsored medical programs for qualified members. Together with other state governments, Molina healthcare provides health plans offering comprehensive quality healthcare attention to individuals and families. Additionally, it provides a Medicare product.
Pros
Provides affordable coverage for Medicaid and Medicare
Provides reliable remote access through the mobile app
Cons
Medicaid plans are limited to a few states
Get Bad Credit Healthcare Funding and Financing with Pay My Medical
Your health is the most important part of life. However, when a situation occurs that jeopardizes your health, it becomes a huge concern. We understand that medical emergencies can occur at any time. For this reason, we are an entity that offers financial aid for medical emergencies.
Applying for medical funding is easily done on the website. You will only fill out a straightforward form on the Pay My Medical website and your inquiry will be submitted to the large network lenders. Upon submission, you will receive a same-day response from our lenders.
If your request is approved, you are redirected to the lender’s website to read the loan terms – all the details on applicable percentages and fees. Once you accept the terms, you will receive the money in your bank the next day.
For the loan to be approved, some lenders would require you to tick all the boxes below:
Must be a U.S. citizen over 18 years
Have a steady income
Your monthly income should be around $1000 after tax deductions
Have a valid checking account
Have a working telephone number
Have a valid email address
Final words
Nobody anticipates a medical emergency. However, when it occurs, you should be well-prepared to deal with the situation. At Pay My Medical.com, we help you deal with medical emergencies by connecting you to lenders who offer fast medical loans (as soon as the next day). Don’t miss out on a chance to restore your health and live a better life.