What Are Some Tips for Finding an Affordable Family Health Care Plan?

To secure affordable family health care, people can apply for tax credits depending on income level, set up a health savings account or select an insurance plan with a low monthly premium called a catastrophic plan. For families with qualifying income levels, Medicaid may be one option for low-cost insurance. Families with an income level of $16,000 are eligible for Medicaid coverage in some states while in others that level is $11,000, and some do not offer coverage at all, notes WebMD.com.

For states without Medicaid or for families that do not meet the income threshold, some state or federal tax credits may be available to help reduce insurance costs. This is also true for people who are offered high-cost insurance through their employers. People whose employers offer plans exceeding 9.5 percent of their income or who pay for no more than 60 percent of the plan's coverage may apply to state marketplaces for assistance, states WebMD.com. Eligibility is determined based on family size and income level.

Getting a high-deductible health care plan is another option. However, these catastrophic plans are reserved for applicants under the age of 30 or for people who cannot afford any other health care coverage. Health savings accounts are another option for reducing health care costs. These accounts function like retirement accounts but allow people to put aside finances for medical expenses. Money in the account grows tax-free once invested.