How To Craft A Cheap Medical Insurance Plan

Are you looking for a way to get cheap medical insurance? If so, I recommend you read through this post and the others I have put on this blog before committing to anything.

But if you are ready now…

Click Here If You Want To Get Cheap Medical Insurance Quotes

I’m writing this post because I want to put out a word of caution before anybody goes ahead and jumps at the cheapest policy they can find. Also, I want to explain the way to choose the right one.

Listen, I understand, nobody wants to pay through the roof for health insurance. But, with individual insurance, sometimes you get what you pay for, and sometimes less. I’ll explain.

A very inexpensive policy (a plan that costs a low monthly fee) will usually mean that is has one or more of the following attributes:

1) A very high deductible, maybe $5000+. That means that in order to receive ANY benefits from your plan, you will need to spend at leas that much PER YEAR. If you don’t even have $5000 or access to it, is this really the right plan for you?

2) A very high coinsurance, maybe 30-50%. That means that if you need a $50,000 surgery for an emergency, that you might end up paying for up to half of that.

3) Extreme limitations on benefits, doctors, and medications. This is self explanatory.

See, the insurance companies are in business to profit, not to lose money. So if they know you are going to spend more money than you pay, they will make the premiums higher. In my opinion, there really is no good way to SAVE on medical expenses, besides taking your own personal measures to become healthier (and picking the right insurance plan)

Chances are, that if you’re looking for cheap insurance, the best way to save money is get a policy that is best described as a “safety net” to protect you, just incase an emergency happens – this is this SMART way to look at insurance. And if you are looking for an affordable solution, I recommend to do the following:

1) Don’t take the insurance bait. If there’s a good chance you’re not going to use one or more of the benefits offered, don’t get the policy. For example, If you aren’t going to go to psychiatrist, don’t pay for a policy that will cover 75% of 20 visits in a year. Save on your monthly payment and if you need to go, pay out of pocket.

2) Pay MORE for office visits and anything deemed “routine.” The best way to save is to use your insurance ONLY FOR EMERGENCIES. That means, find a plan with low coinsurance, low deductible, and almost NO bells and whistles.

3) Big companies with the fancy brand names are not worth paying extra for. If you have a policy just for emergencies, then it’s my opinion that almost any company will pay out your claim and the smaller ones might be faster at it as well.

4) Compare as many quotes as possible from a site with a reputation for getting the lowest prices.

Obviously, the first choice for getting affordable insurance is to get into a group plan, especially if you’re over the age of 35, a smoker, or you have a preexisting medical condition. Basically, if there are any factors that make the insurance companies believe that they’re going to be paying out more than they make off of you, besides the off-chance of an emergency, then a group plan is the best.

But, you are probably here because you do not have access to a group plan and you are interested in buying individual health insurance. Well, the news isn’t all bad if you take my advice above. However, if you neglect my advice and get a PPO with full coverage including cheap doctor visits (plus paid-for alternative, preventative, and gynecological doctor visits), low deductible/coinsurance, and the works, expect to pay through the roof.

T0 get cheap coverage, start first by taking care of your body! Then decide to use your coverage only in emergencies. Then shop around wisely.

Click Here To Find All The Cheapest Health Insurance Policies

That’s it for now. I hope that I was able to give you some good ideas for finding and crafting the cheapest medical insurance plans. Read some of my other posts to get deeper into the issue.