Everyone wants to make sure they get their money's worth. No matter what we buy it's important for us to believe that whatever we bought was worth the price we paid. All too often, however, we don't pay attention to these same details when we buy cheap health insurance.
Cheap insurance is priced that way because it's designed to give you very little back in return. One of the things to watch out for when you are researching some low cost health insurance policies is their rating. A low rating of C- or lower means there are questions as to whether the company could stay in business if it needed to pay out too many claims all at once. Many insurance companies over the years have gone out of business due the number of claims.
Another reason the premiums might be really low is that the doctors associated with the plan are being paid below industry rates. Or their deductibles are so high that they are useless.
They need to understand and manage their risks. All companies are in the business to make money, and insurance companies who sell cheap insurance are at the top of the list when it comes to trying to make money. They aren't worried about patients or their health concerns; they will do whatever it takes to give you a hard time as you try to get your claims paid.
Be very careful when choosing a doctor on one of these plans, too. Since these doctors are working for pretty low reimbursement rates, you need to do a lot of research on each doctor you may be interested in working with. You need to understand why he willing to work for that money. There's a chance he never graduated from a US based medical school, or even worse.
In most cases, the deductibles for all policies are very high. If you have children who are accident prone or if you have problems that need medical supervision, this type of insurance may be more of a hindrance than a help.
Author Resource:
Looking to find the best deal on Health Insurance , then visit Samantha Malone's site to find the best advice on Cobra Health Insurance for you.
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