Jan
Many people get fooled into gimmick health insurance policies; because they fell for an advertisement that said they could have cheap health insurance for $25 or $50 a month. The only problem with these types of cheap health insurance premiums is that they are fine, if a doctor visit or emergency room is never required.
However, the deductibles on these types of cheap insurance premiums are usually ridiculous. Some of the companies may only pay 25% of the actual bill at the emergency room, which leaves a pretty hefty bill to pay when 75% of the bill comes to the house for the patient to pay. There are many different reasons why people have come up with sayings like what goes around comes back around, and cheap health insurance is one of them.
If the premiums are small, then the bills are going to be large. If the premiums are large, then the bills are going to be small. That is just how health insurance works and it is sad to see people get sucked into these cheap health insurance ploys and then turn around and get charged for all of the bills they thought would be paid for under the health insurance.
So what is the best way to avoid these types of things? The first thing to do is to read the insurance policies and make sure they make sense. If having a cheap monthly premium is what you want and having a nice large savings account to pay for emergencies is the plan you follow, then the cheap health insurance policies are a perfect fit. If you don’t have a huge savings account and don’t plan on having one for emergencies, then having a higher premium each month would be the best bet, because then there will be no large out of pocket expenses.
There is no cheap insurance that covers all of the medical expenses that are incurred during a doctor’s visit or a visit to the emergency room. A simple blood test at the doctor’s office costs over $100. With a high premium insurance policy the co-pay is only $20 which makes the higher premium much more attractive, especially if blood work needs to be done routinely.
Many people complain that there insurance is too high each month. But the facto of the matter is that, if it was any cheaper, they would have a much larger out of pocket expense when they needed something. Most people would rather take the higher premiums and not have to worry about having to come up with a large sum of money when something bad happens. If something bad does happen, trying to find money to pay the bills is not the first thing on most people’s mind.
So, get a plan and figure out what insurance policy is best, and then, go to different insurance agencies and find out what they offer. Many insurance companies will offer different plans for different people and different health needs, and they can all be different prices. Cheap health insurance can be found, but only if it is for the right type of person.