Cheap Health Care Insurance: Are Bargain Prices Worth It?

Cheap health care insurance certainly serves a market and they are usually better than no coverage at all, but the bottom line is that they are not for everyone. In fact, they can actually land up costing more if you require expensive care not covered by your cheap health care insurance plan.

The problem is the promotional period does a great job of making you feel all warm and fuzzy about these ridiculously cheap health care insurance plans, when actually you may not be getting exactly what you thought. As long as you fully understand what the coverage is and there are no surprises you can then make a sound decision based on the information you have.

Cheap Health Care Insurance Transfers Risk to You

Someone has to pay. If you are paying higher premiums you are getting a broader medical plan that covers a wide number of circumstances with a higher coverage rate. There is little risk to you. When you purchase a cheap health care insurance plan you are getting minimum coverage and lower dollar limits. Therefore you are transferring the risk to yourself.

Cheap Health Care Insurance Caps

Consumers commonly focus on just how cheap the monthly premiums are without focusing on what type of coverage that low premium is providing. And good promotional material has a person believing everything is great. For example, often times cheap health care insurance will have a $1000 per year cap on surgery or a $200 cap on anesthesia. You don’t get a whole lot of surgery for a $1000 and for $200 you won’t even get knocked out.

As a result in the event of an accident where there is major injury you could find yourself facing huge medical bills even though you had medical coverage. What this means is you need to take the time to read the policy in detail and if you find it covers everything you want than go ahead and sign up, however don’t be surprised if it doesn’t.

Cheap Health Care Offers High Deductibles

Another way that health care insurance companies keep the premiums down is by increasing the deductible. This is the portion you pay before the policy kicks in to cover costs above the deductable. Ask what the deductible will be.

What’s Right For You?

Health care insurance is a personal choice. What’s right for one might not be right for another. The key to cheap health care insurance is asking questions before you buy so that you know what you’re getting, leaving no surprises.

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