Everyone knows that medical insurance premiums have gone through the roof over recent years. Some states are more expensive than others due to the mix of demographics which usually includes an overwhelming percentage of senior citizens, Medicaid recipients, and poverty stricken families who rely on free medical care at local clinics and emergency rooms. Since paying customers need to pick up the tab for these others, is there any way we can find cheap medical insurance?
Even though the government is trying to find ways to reduce healthcare costs, anything they finally agree on won’t be put into action for five years or so. And even when that happens, no one can guarantee us what it will cost.
As any consumer knows, however, you get what you pay for. Whether it’s a used car, a pair of shoes, or medical insurance, there are good deals and bad when it comes to what you get for your money. And, as educated consumers, it’s up to us to make sure we know where the deals are what we are paying for.
Sure, we can find and buy “cheap” medical insurance. But this cheap insurance is cheap for a few reasons - you get virtually nothing in return for your premium. Your deductibles will be very high, what the plan covers will be drastically reduced, and even something as simple as using an emergency room will require prior authorization - ludicrous.
This type insurance also comes with a very narrow group of doctors who accept these insurance payments. After all, if you aren’t paying much for the insurance, the insurance company in return isn’t going to pay the doctors much either. “Cheap” runs full circle in these cases. And for doctors willing to take these super low payments, you need to wonder why they would.
Before buying one of these policies, check out the doctors on the plan. Do some internet research on your state’s website where they list the licensed doctors in your state. Check their education, their licensing status, and see if there are any complaints or lawsuits against them.
Yet one more reason they can keep their premiums low is that many companies won’t start paying claims for over six months! They’ll collect your monthly premiums, yet you get nothing out of it. Any medical related expenses you incur during this timeframe most likely won’t be applied to your annual deductible either.
In most cases, the doctors expect you to pay them directly. Since they are already making very little money with this insurance, they don’t want to wait to be paid. They expect you to wait to be paid. After each visit you need to pay out of your own pocket, submit the claim, and wait months for a check. And, yes, there’s a good chance you won’t be reimbursed for everything. Keep in mind they are only in business to make money, and the fewer claims they pay, the better off they are.
If you do not have a company that can provide you with insurance then you have to get coverage yourself. Tonik Health Also, all parents must insure their children or they will be fined. Fee-for-service can be costly, but if you need the flexibility to accommodate your lifestyle, it could be worth it.
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