Cheap Medical Insurance – How to Save a Ton of Money on Health Insurance

To be completely honest and up front, cheap medical insurance is very hard to find these days. Insurance companies have driven up prices to the point where one in six Americans, at the time of this writing, have no health insurance coverage at all, simply because they just can’t afford it. Individual health plans can be purchased for as low as $40.00 per month, but what you’ll receive at that price is not always going to do you a whole lot of good when you’ve got the flu or need to see the doctor for a hang nail.

Fortunately, if a person takes the time to sit down and use their sense of reason, they’ll see the real purpose behind having cheap medical insurance in the first place and the best way to provide coverage for themselves with an individual plan, or a family health plan to provide protection for their loved ones.

The bottom line – the cost of visiting the doctor’s office will vary from around $30-$75.00, depending on where you live. Folks, this is NOT out of line for getting your hang nail diagnosed and getting some simple instructions and a cheap prescription that will fix your problem. You can usually get prescriptions as low as $4.00 for generic brands at Wal-Mart.

The point I’m trying to make here is this, go ahead and buy a cheap medical insurance plan, but when you do, get a high deductible and plan on paying for every day doctor visits out of your own pocket.

Wait just a minute before you freak out and tell me how wrong I am.

Consider this – how many sick days is a person normally allowed at work each year? The answer is two. Now bear with me. The reason that most companies have set this at two days is because people just don’t get sick all that often, unless you’ve got an abnormal condition.

Based on these numbers, let’s say that you had to visit the doctor twice per year. This is being extremely out there but let’s continue. Let’s figure two visits to the doctor plus two prescriptions would cost $158.00. That’s based on $75 x 2 = $150.00 + $8.00 for two cheap prescriptions.

Now, let me ask you this. Based on those figures, does it make sense to pay 400-500% MORE per MONTH on your health insurance premiums in order to lower your deductible? Let me answer that for you. Maybe. The reason I say that is because you could have 15 KIDS! In that case, I’m not sure if these numbers would work for you or not, nor am I willing to even try.

My point is that for an individual health plan or a family health plan, you should really crunch these numbers and see if an expensive lower deductible would be worth it for you to pay.

You can raise your deductible to $2,500-$5,000, pay everyday cheap medical costs yourself, but still be mostly covered in the event of an unforeseen emergency. Think about these numbers when you’re ready to start looking at cheap medical insurance.

What to Look at When Buying Health Insurance

There are many health insurance companies and many different types of insurance coverage. Many will offer all kinds of things which in some cases we do not understand finding ourselves paying for services we did not want or we did not need. You will find here a brief explanation of certain terms and conditions that may help you understand better what it is you are buying so that down the line you do not find yourself holding the tiger by the tail. Health insurance simply means that you are protecting yourself against having to pay for medical services, this may include surgery, regular medical checkups, injury, emergency care and hospitalization, to mention a few of them.

A health insurance policy or health insurance coverage is a contract between you and the company you have chosen, as such there are terms and conditions that you have to understand and comply with to get the coverage you are paying for. Health insurance contracts or policies are renewable and usually you are able to cancel them without obligation at any time if you are not satisfied with their service or if simply you do not want it anymore.

But you must always read and understand the complete document before you sign it, penalty charges may have to be paid to cancel a health insurance policy.

To purchase a health insurance policy it is necessary for you to pay a premium, this is a certain amount of money which depends on the coverage you want. The premium is paid when you sign the contract and it makes your policy effective immediately. After this, you will pay a monthly or yearly amount that will guarantee your coverage, again, the amount you pay every month will depend on the coverage you have contracted. Now, this is not necessarily the only amount you will have to pay for medical services, there may be other expenses down the line that will come out of your pocket. This is why it is so important for you to read all the documents thoroughly and understand them.

Insurance companies will not cover your medical bills completely, and many times they will want you to pay for the services you receive promising that they will reimburse your expenses within a month or something like that. Even then you do not get 100% of the money spent back. Take a good look at the policy you want to buy and find the paragraph where the “deductible” is mentioned, this is the percentage of the bill you will pay. Usually the company pays for 80% of the bill and you pay for the remaining 20%, this is standard, so make sure this is what you are getting. Any split higher than this is too much and must be rejected immediately.

Now look for the “co-payment” amount or percentage, this has to do with specific types of medical attention where you have to pay part of the expenses, an example of this may be cosmetic surgery. Usually co-payment does not apply to emergency treatment or surgery or regular checkups and care, but again, all companies are different so make sure you do not have to pay a percentage of the bill for every medical service and care you receive.

“Coverage limit” is related to the maximum amount the insurance company is willing to pay for your medical treatment, when this amount is spent, you will have to pay for the rest. Make sure this amount is high and that there are no age restrictions with regards to coverage. The coverage limit does not apply to specific services, it applies to the total amount the insurance company is willing to pay for the duration of the policy. Many people have found themselves needing extensive and expensive medical care down the line and all of a sudden the insurance company sends them a note informing them that their coverage limit has been reached and they will pay no more.

On the other hand you have the “out of pocket maxima”, this is the maximum amount that you have to pay, the rest will be paid by them. Here is where the horse trading begins, you have to negotiate and try to keep your coverage limit up and your out of pocket maxima down, this is very important to achieve especially because you want to be prepared in case down the line you need long or permanent medical care. Insurance companies work to make money and that fact is that if you are a healthy person you may be paying for their services for a long time without using them. This is not important because no one knows when an accident or a disease will happen and you must be financially ready to face the music. Health insurance is the only way to do it.

Look After Your Wellbeing With Personal Health Assessments

If you’re concerned about your health or you simply desire the peace of mind that comes from being certified physically fit by a knowledgeable professional, health assessments can be an ideal way to receive a detailed overview of your physical condition, as well as benefit from expert advice on any areas of your health and lifestyle that could be improved.

Rather than waiting until something’s wrong, keeping up with regular health assessments can prove highly effective in identifying potential problems at an early stage, before they become a real threat. There are numerous types of health assessment available, covering the entire spectrum of physical and mental health and wellbeing, and assessments can even be personalised further to focus on the most significant health issues relevant to you.

Health assessments are carried out by experienced practitioners, in environments designed to be as relaxing and therapeutic as possible, and aim to offer the most comprehensive and detailed overview available. By disclosing details of your medical history, you can also help your assessor greatly by allowing them to consider the past and present in planning for your ideal future.

While the physical examination is the most fundamental component of health assessments, patients are also encouraged to take the opportunity to ask their examiners any questions that are on their mind and discuss any concerns they might have about their lifestyle, before receiving their personalised action plans designed to maximise their health and wellbeing over subsequent weeks, months and years.

These tips and strategies for a brighter, healthier future tend to be among the most overlooked health assessment benefits, but could prove to be the most beneficial feature of annual assessments if you feel any aspect of your lifestyle is preventing you from achieving your ideal body or physical condition. The philosophy behind health assessments is that tackling issues and potential problems before they become serious concerns can save a great deal of time, money and suffering further down the line.

This sense of health security does not carry a high price, and you may even find that health assessments are included as part of an insurance package offered by your employer or insurer. With the benefits of modern medical technology and constantly improving knowledge at your fingertips, it’s now easier to look after your body than ever before, and receive help making minor or drastic lifestyle changes that could greatly improve your quality of life.