Low Cost Medical Insurance
An important measure to ensure good health is to buy low cost medical insurance that will take care of any healthcare financing required to ensure you have access to the best treatments available. Many people thought that only rich people can afford the spare cash to buy health insurance but that is a very wrong misconception.
Major medical plan and especially HMO health insurance are all considered low cost medical insurance whose monthly preimum is around $30 a month from Aetna, Humana, Blue Cross etc. That is around a dollar a day, which makes it affordable for just about any working adults.
The problem is some unethical insurance salesmen try to push too hard and sold inappropriate medical insurance, such as unnecessarily high coverage or GOLD plans to unknowing consumers at higher than they can afford premiums. When word spreads around, many people become disillusioned and think that there is no low cost medical insurance that are designed for their lower incomes.
Deductibles For Medical Insurance
The reason why insurers can come up with low cost medical insurance is because of the use of co-payment and deductibles schemes. Whenever you make a claim for some medical services, the insurer will process the claim and if valid, pay around 70 to 80% of the covered expenses while the insurance claimant will pay the remaining. This simple but effective strategy puts a stop to people that try to abuse the benefits of their medical insurance and increase the expenses of the insurers. When that is not controlled, the only result is higher monthly premiums to offset these fraud cases.
However, the co-payment nature of low cost medical insurance may be a problem for some low income families as they may need to come up with a substantial amount of money for long term treatments or expensive surgeries. Although there are some health plans with lower deductibles, these means the monthly premium will be correspondingly increased hence it is essentially equivalent. Nevertheless, either plans are still better than having zero health insurance coverage which means you must pay the very expensive hospital bills in full which can be typically several hundred times compared to the total amount of premiums paid on average.
Buy Medical Insurance
When you are considering to buy health insurance, be sure to compare the medical insurance quotes from Humana, Aetna, Blue Cross, etc and examine the features and disadvantages of each plan. Do not buy more than what you can afford and it is definitely better to ensure everyone in the family is insured with the basic family medical insurance plans than to leave someone out while using that saved money to upgrade to a GOLD plan.
A subtle difference between the health policies quoted by different insurers can be found in the list of catastrophic illnesses covered and the amount claimable per annum. Some cheaper quotations may conveniently leave out coverage for some expensive surgical procedures and ordinary consumers may not be able to tell the differences.
If you have some special family medical history that make you belong to the high risk group of developing a particular health condition, make sure you choose a medical insurance that does insure you against it. You also need to be upfront about your medical status when applying such that the insurer can send you for more in-depth examinations to review your case.
Even though leading a healthy lifestyle and eating a sensible diet is perhaps the most important prevention against the onset of diseases, the low costs associated with health insurance have made it a no brainer decision, especially when you have taken a look at any recent hospitalization expenses.
By the way, do not get confused with the low cost group insurance plans that you may have bought in at your company or neighborhood. Such plans only provide protection against death and is used as a form of dependant protection to ensure your family has some monetary support in the event that you are no longer around. Low cost health insurance is more towards protecting you from the financial difficulties of not being able to foot the medical bills necessary to nurse you back to health.
Major medical plan and especially HMO health insurance are all considered low cost medical insurance whose monthly preimum is around $30 a month from Aetna, Humana, Blue Cross etc. That is around a dollar a day, which makes it affordable for just about any working adults.
The problem is some unethical insurance salesmen try to push too hard and sold inappropriate medical insurance, such as unnecessarily high coverage or GOLD plans to unknowing consumers at higher than they can afford premiums. When word spreads around, many people become disillusioned and think that there is no low cost medical insurance that are designed for their lower incomes.
Deductibles For Medical Insurance
The reason why insurers can come up with low cost medical insurance is because of the use of co-payment and deductibles schemes. Whenever you make a claim for some medical services, the insurer will process the claim and if valid, pay around 70 to 80% of the covered expenses while the insurance claimant will pay the remaining. This simple but effective strategy puts a stop to people that try to abuse the benefits of their medical insurance and increase the expenses of the insurers. When that is not controlled, the only result is higher monthly premiums to offset these fraud cases.
However, the co-payment nature of low cost medical insurance may be a problem for some low income families as they may need to come up with a substantial amount of money for long term treatments or expensive surgeries. Although there are some health plans with lower deductibles, these means the monthly premium will be correspondingly increased hence it is essentially equivalent. Nevertheless, either plans are still better than having zero health insurance coverage which means you must pay the very expensive hospital bills in full which can be typically several hundred times compared to the total amount of premiums paid on average.
Buy Medical Insurance
When you are considering to buy health insurance, be sure to compare the medical insurance quotes from Humana, Aetna, Blue Cross, etc and examine the features and disadvantages of each plan. Do not buy more than what you can afford and it is definitely better to ensure everyone in the family is insured with the basic family medical insurance plans than to leave someone out while using that saved money to upgrade to a GOLD plan.
A subtle difference between the health policies quoted by different insurers can be found in the list of catastrophic illnesses covered and the amount claimable per annum. Some cheaper quotations may conveniently leave out coverage for some expensive surgical procedures and ordinary consumers may not be able to tell the differences.
If you have some special family medical history that make you belong to the high risk group of developing a particular health condition, make sure you choose a medical insurance that does insure you against it. You also need to be upfront about your medical status when applying such that the insurer can send you for more in-depth examinations to review your case.
Even though leading a healthy lifestyle and eating a sensible diet is perhaps the most important prevention against the onset of diseases, the low costs associated with health insurance have made it a no brainer decision, especially when you have taken a look at any recent hospitalization expenses.
By the way, do not get confused with the low cost group insurance plans that you may have bought in at your company or neighborhood. Such plans only provide protection against death and is used as a form of dependant protection to ensure your family has some monetary support in the event that you are no longer around. Low cost health insurance is more towards protecting you from the financial difficulties of not being able to foot the medical bills necessary to nurse you back to health.
0 komentar:
Post a Comment