However, is it wise to try and save on health insurance by going for the low cost ones? Let us look further into the truth about low cost one.
Need: The average cost of hospitalization and treatment has been escalating.
In order to help you survive through the colossal medical bills shoved your way in times of emergencies, you need health insurance.
Nevertheless, with the cost of basic necessities increasing at a more rapid pace than our salaries, it can be quite challenging to put aside money to invest in it.
It is a fact that about 40 million people in America do not have one.
While some choose not to take up health insurance simply because they do not understand the importance of it, most others do not have it because they cannot afford it.
Low Cost: All is not lost and there is still hope.
There are low cost health insurance policies in the market for people with tight budgets.
With more low cost one providers entering the market every day, finding one that suits your needs and budget may not be impossible.
However, you must be willing to do much research on the policies before settling on one.
Managed Care Health Insurance Managed care health insurance is usually the preferred type of low cost health insurance.
There are three kinds of managed care plans.
They are Health Maintenance Organization (HMO), Preferred Provider Organization (PPO) and Point Of Service (POS).
The common believe is that low cost one are a waste of money as they do not provide much cover at all.
On the contrary, the low cost one such as HMO plans are not only cheap but they also provide quite a comprehensive cover.
They even require minimal paperwork when making claims.
POS plans even offer preventive care and well-being services such as discounts on health club memberships on top of being low cost health insurances.
The main disadvantage of having a low cost is the fact that you cannot go to a doctor of your choice.
The doctor you go to must belong to the network of your plan.
A Well-Informed Choice Of A Low Cost Health Insurance Is Beneficial To Those With Tight Budget If your financial situation permits, it would always be better to go for a more comprehensive cover and one that allows you more control over the choice of your doctor.
However, if you are one of those with limited financial resources, you do not have to fear low cost health insurance.
They are beneficial and you can get good deals which are affordable and yet provide good cover.
It is smarter to have a basic one than to have none at all.
Having a cheap one can be a wise choice if it had been properly researched and selected based on your needs.