Here Are Some More Things That Could Be Helpful For You!
The cost of medical coverage, housing, food and more can quickly add up and get overwhelming. Fortunately, you can access helpful government grants and financial assistance programs to qualify for, including low-income health insurance.
There are also several different financial services you can ask for like personal loans to help you deal with your expenses. You can find 5 different types of financial assistance to help you below.
Download Your Free Guide:Download Your Guide
1. About Cheap Low-Income Health Insurance Plans
Health care costs get more expensive every year, which doesn’t help when you already have trouble covering other costs like food and rent. Fortunately, there are several different federal and private low-income insurance plans you can access, as long as you qualify for them. The best cheap insurance options include:
- Medicare – This health insurance program was created to give free essential coverage to people who are 65 years of age or older. In some cases, younger people living with disabilities can qualify too.
- Medicaid – This low-income health insurance program gives free or low-cost medical assistance benefits to families with senior members, people with disabilities and pregnant women that qualify
- CHIP – The Children’s Health Insurance Program (CHIP) is a low-income insurance program that gives health coverage to children of families with incomes too high to qualify for Medicaid. In some states, CHIP also covers pregnant women.
- Short Term Health Insurance Plans – These plans cover any temporary gaps you might have in your health insurance, like after losing a job. They have a low premium you have to pay per month and no open enrollment restrictions.
- Supplemental Health Insurance Plans – If you need extra coverage to help pay for medical services that are not covered Medicare or another program, these plans can help.
- Catastrophic Insurance Plans – These plans have accessible premiums but the deductibles are generally high. The problem with these plans is that you will need to pay for any medical service you get with your own money, but the monthly cost is lower.
- Affordable Private Health Insurance – The Bronze HMO plan is another cheap option for low-income insurance that can be bought through the Health Insurance Marketplace. They have a low premium and a few free services.
Tip: You can turn in your Medicaid application through the web to make sure that it gets processed as soon as possible. The same thing happens if you apply for Medicare, CHIP or a low-cost private health insurance plan. Online applications are your most convenient option.
2. Find Out About Housing & Cash Assistance Government Grants
If you earn a low income, you can qualify for Section 8. This grant covers a part of your rent and you do not have to pay it back. To apply for Section 8, you can turn in your application to your local public housing agency (PHA). To make sure the process goes smoothly follow these steps:
- Decide how you want to apply. You can qualify to apply for Section 8 through the web, in person or by mail.
- Input the necessary information. You’ll need to give personal information from your family like their names, Social Security Numbers (SSNs), employment statuses, income, taxes and more of everyone in your household.
- Turn in your Section 8 application. After they get and process the application, the PHA will put you in a waiting list to get benefits.
One of the main advantages of Section 8 is that you can use the benefits in different types of property, like townhouses, single-family homes, apartments or condos. You can choose the property you want to rent in the private market.
To get housing vouchers, you need to meet the requirements of the program, especially residency and income. To qualify for benefits your family cannot make more than 50 percent of the median income of your area.
There are two main approaches that consumers take when getting free credit reports. You can request reports from all three bureaus at one time to see how the scores vary slightly (as they often do). Otherwise, you can spread out your requests throughout the year to track your credit increases or decreases every few months.
3. Learn About Payments From Social Security Disability Insurance
Social Security Disability Insurance is a program that gives monthly payments to anyone who becomes disabled and cannot work before retiring. The benefits are paid with Social Security taxes that employees pay while they work. You can apply for SSDI benefits through the web or by calling directly to the Social Security Administration (SSA). During the application process, you will need to share:
- Your Social Security Number.
- Lab results.
- Records on your disability.
- Information on how to get in contact with their doctor, clinic, hospital or caseworker.
A representative from the SSA will review your application, making sure that you worked a minimum of years at your job and that you paid Social Security or FICA taxes, which is the second biggest requirement to get benefits.
4. You May Qualify for Personal Loan Financing
Another way of getting financial assistance is to take out a personal loan, which is the amount of money that you borrow from a private lender at a fixed rate. Personal loans have to be paid back after a prearranged amount of time with interest, but if you need to give a boost to your finances, you can take it out quickly.
Also, low rates can be pretty easy to get and can be helpful if you need to borrow a loan to consolidate your debt or to help with emergency expenses.
You can take out a personal loan in just a few steps:
- Explore your prequalified loan offers online. You can already see the types of loans you can qualify for by getting minimal information online.
- Read the terms of each loan. See how much time each lender gives you to repay the loan completely as well as the interest rate and the minimum monthly payment attached to each loan.
- Choose the best personal loan option. Taking into account low-interest rates and a reasonable period of time to repay the money, decide what loan is best for your budget.
- Close the deal. Once you get approval, talk to your lender to make sure the final terms are exactly what you’re looking for.
5. Learn About Debt Relief You May Receive Through Declaring Bankruptcy
If you are struggling with debt, declaring bankruptcy may actually be the solution to improve your financial situation. Bankruptcy is a court procedure where someone can be discharged from their debts because they cannot pay their bills and face serious financial trouble.
This means that you will not be responsible for paying those debts. Filling bankruptcy can be successful if you follow the correct steps.
A bankruptcy attorney can help you learn how to file for bankruptcy in the right way so that you can get the debt relief that you need. You can save money by looking online and hiring cheap lawyers. You can find several lawyers with good reputations to contact and get quotes from through the web. After the lawyer takes care of the procedure, you can get your finances back on track.