Wednesday, January 23, 2013

Low Cost Health Insurance

When you hear the word "insurance" from an agent, probably the first thing that would dismay you to purchase an insurance package is the cost. Second would be the minute details attached to every type of insurance. Probably, you are not an expert of this field and you don't want to use up your brain cells in trying to understand its technicalities, jargon and complexity.

In this article, we will tackle on low cost individual health insurance plans in laymen terms. Essentially, we are going to explore the variety of low cost or affordable health insurance.

Risks Posed on Health Insurance

When you finally are decided to purchase a low cost health insurance, know that suddenly you are acquiring risks beside this decision point. You thought you have saved money. However, another implication is that the health insurance package you bought is completely useless.

Being a novice in the best individual health insurance quotes and plans, you did not know the right policies that should be present. In the end, you will have yourself only deceived by the "tricks" of the scammer / insurance company.

Here are ways to correct this, if you purchased an "affordable" health insurance plan whether you are company employed or self employed.

How to Benefit From a Low Cost Health Insurance

1. Make and demand clarifications.

Somewhere along the lines of the insurance policy, there may be ambiguities that you must clear before signing up for the plan. Know that these insurance companies are in the business to provide useful information supposedly and protection. Don't allow them to only make money out of a foolish business.

Insurance is about quality care and not earning of profits. Don't have them deny coverage. Do ask questions and don't be bothered if you are asking really many questions! As a customer, you have the right to do so.

2. Insure yourself against major illnesses or injuries

By purchasing an insurance that covers major health casualties such as different major illnesses and injuries, you can be surer that you have saved more money. Rather than paying them out by yourself, you have the insurance policies backing you up. This plan is called the "catastrophic coverage plans." And often, policies included in this insurance plan cost cheaper, with lower premiums?

Ask your insurance broker about this. But I think it is because the chances of you getting major attacks are minimal as compared to the number of instances you visit the doctor (consultation fee), buy over-the-counter medicine, and the like.

These purchases are what's known as the out-of-the-pocket deductibles which insurance plans consider as a big tradeoff. Hence, proceeds from insurance for the cost of these are most pricey.

3. Go for health insurance plans with higher deductibles.

In the long run, you will pay for less if you opt for insurance plans with higher than lower deductibles. But you will need more savings in your account to get accounted for this insurance policy.

4. Buy an affordable health insurance plan while you are young.

I noticed that the older you get, the more expensive health insurance plans will be for you. Health insurance companies assume with the right logic that you will tend to be less healthy when you are older, especially when you reach the 40s.

While you're young, do purchase a suitable best individual health insurance for you to avoid the troubles of paying for the same plan for more in the next years.

5. Purchase affordable group health insurance coverage if you're older.
If you are between 40-60, the best way you can still purchase a low cost health insurance is to buy by group. Find a group of people with the same ages as you and get a group health insurance coverage altogether. 
Individually in the group, compare the different insurance options available as online references. Not all can match everyone's preferences so you have to make sure that every person's concern is answered by the same insurance plan. Then bypass the insurance agent and go directly to online sites of leading health insurance companies. By paying only the premium without commission for the agent, you will definitely save a lot.