You have to ask yourself – are you really looking for cheap health insurance or do you want affordable health insurance? There is a big difference. Cheap often implies low quality and when it comes to health coverage, low quality should be low on your list of requirements.
While cheap may be undesirable, affordable online health insurance options can be obtained when you enter your zip code in the box provided.
When purchasing health insurance, you are banking 100% on that company being there for you when you need them. A company that provides you with a cheap policy may be missing-in-action when you need them most. Health insurance coverage is vital. You don’t want to pay out any premium if you get no service or coverage. That is simply a waste of money.
How can I know if I have chosen a reputable insurance company?
There are certain companies that are icons in the industry. If you choose one of the more well-known, familiar companies, you can more than likely count on them to provide you with a good plan. On the other hand, if you are considering a plan through a lesser known company, you may want to do your homework and check out the company. A good place to start is with the Better Business Bureau.
What are the risks of choosing a cheap health insurance plan through a less reputable company?
Companies that offer cheap plans may not be financially stable. You may end up in a financial bind when your insurance company can’t foot the bill for your large medical costs. Research the financial stability of companies you are considering through independent rating companies such as A.M. Best.
Less reputable companies are not as likely to work with you on a dispute. They just cannot afford it. You may be on your own with a healthcare provider if there is a discrepancy in a charge for services.
A less reputable company may also offer you a plan for a network in which you are outside of. You have to be careful of what you are being quoted. Health insurance coverage isn’t much good if there are no local providers in the network.
What can I do to pay as little as possible for health insurance?
Again, if you are looking for cheap, that is more than likely what you will get – cheap – as in coverage. Forego cheap and opt for affordable. You can kick-off your search for affordable coverage options by searching the Internet. There are many websites designed for just this purpose – to assist you in finding an affordable plan.
What you will pay for health insurance coverage depends on several things. For one, what level of coverage do you want? Do you want major medical coverage that will pay for doctor visits, prescriptions, etc. or can you settle for catastrophic coverage, which will help cover some of your expenses if you should have a major illness or accident?
To lessen your out-of-pocket costs for your medical coverage, you can elect higher deductible plans or plans with a lower co-insurance. For example, a plan that pays 70% of costs after the deductible will more than likely be less expensive than a plan that pays 80%.
Depending on the type of plan you choose, you may or may not be required to go to an in-network provider. In any case, choosing to do so will help lessen the overall cost of the service and therefore what you will pay out of pocket.
If you are between jobs, a temporary plan is a good choice and will come with a lower premium. There are some caveats to this type of coverage so you will want to put some serious thought into choosing such a plan.
Some employees who are laid off from their job are offered severance packages, which often include continuation of healthcare insurance for a period of time. This continuation in many cases is fully paid for by the employer.
When it comes to health insurance, don’t ever opt for the cheapest option available. Be willing to shop around and spend a little more money to get an affordable plan that you can count on.
While cheap health insurance may not be your best choice, you can still shop for affordable coverage through reputable companies. Enter your zip code in the area provided to obtain health insurance quotes now.