Trust WalMart to come up with options that are cheaper than anywhere else – even if it is in health insurance. Beginning with the new year, Sam’s Club, the discount warehouse run by WalMart is selling what they call a Prevention Plan – it’s a rudimentary health package that costs $99, and is sold by US Preventive Medicine. But that’s fantastic, isn’t it – getting health coverage for $99? Not exactly. The cheapest health insurance plan in the country isn’t actually a health insurance plan. It only makes people think it is. What it is in fact it is a health management program that allows people to find out how they’re doing.
All that the prevention plan does for you is to help you with a few tools that you can use to see if you are ill. One of the tools they offer is a subscription to a website that tries to help you recognize possible health risks and problems. You can also get blood tests done at home. With the information you learn with these tools, the hope is, that you will be in a better position to tackle problems before they actually manifest themselves. When after using these tools, you have a question or two, you can call up their nursing hotline for a little information.
So who exactly is such a plan for? Small businesses that are usually not able to provide the kind of regular health coverage that larger businesses are able to, can go halfway with a prevention program like this. It is supposed to help small businesses get their employees some way to gain some control over their health. It’s pretty popular too; thousands of Sam’s Club members have already signed up. If what you really want is real coverage, the cheapest health insurance you can get will probably depend on who you are.
If you have just graduated from high school and are looking at getting into the workforce, staying on your parents’ health insurance is your best bet. It’ll cost you far less than what it would if you got insurance for yourself. You can do this until you’re 26 years of age and not married – unless you have a better deal with a new employer. In some states, in New Jersey for instance, you’re eligible to stay on your parents health insurance until you hit 30. While this is the cheapest health insurance option you have, it will still cost you about $3300.
If after high school, your plans have to do with going to college, the cheapest health insurance option might well be the plan offered at your college. You could get full coverage for under $1000 depending on the state the college you go to is in.
If you are a young adult who is self-employed, your best bet may be one of the young adult plans health insurance companies have. These are usually the cheapest health insurance policy types there are. Of course, the low premiums will also mean a high deductible and expensive copayments.