If You Opt For Low Cost Health Insurance, What Are The Advantages and Disadvantages
At
the moment healthcare costs in the U.S are spiraling
out of control. Health insurance premiums are
going up and most people now cannot even afford
basic health care insurance. Low cost health
insurance is an affordable alternative to normal
health insurance coverage.
So what exactly is low cost health insurance?
Well, low cost health insurance is basically
insurance available at a more affordable or
low rate. Here the premium that you pay is a
small amount. With low cost health insurance,
you do not have to really worry about the medical
bills that you will incur. The main aim of low
cost health insurance coverage is to look after
the health of yourself and your family in an
inexpensive manner.
However there are some big disadvantages to
low cost health insurance. This is because as
you are paying lower premiums this means that
you are getting less benefits and coverage.
So what is a good health insurance policy?
A good health insurance policy contains several
types of coverage. Basic insurance includes
hospital, surgical, and physicians' expense.
In addition, major medical coverage is necessary
in case of an accident or illness. These may
be purchased separately, but you will get more
complete coverage if they are combined in a
single policy.
Basic Coverage
Hospital expense insurance pays for your room
and board costs if you are hospitalized. Additionally
this insurance typically covers other expenses,
such as use of the operating room, x-rays, drugs,
anesthesia, and laboratory charges.
Surgical Expense Insurance
Surgical expense insurance pays surgeons' fees
and costs related to surgery. Related costs
may include assistant surgeon fees, anesthesiologist
fees, or operating room charges. Surgical expense
benefits are generally paid according to a set
schedule.
Physicians' Expense
Insurance
Physicians' expense insurance pays for visits
to a doctor's office or hospital visits. Usually,
the health policy specifies a maximum number
of visits per injury or illness.
Major Medical Insurance
Major medical insurance is designed to protect
against major accidents or illness. It is usually
a broad policy with high maximum benefits. Most
major medical policies provide at least $250,000
of coverage. And although coverage can vary
from one plan to plan, the following are included
in most major medical policies:
- Hospital services and supplies (medical
and surgical)
- Hospital room and board, including intensive
and cardiac care
- Physicians' services (diagnostic, medical,
and surgical)
- Nursing services
- Other medical practitioners' services
- Anesthesia and anesthesiologists' fees
- Ambulance service
- Laboratory and diagnostic tests, including
x-rays
- Radiology and other therapy
- Blood and plasma
- Oxygen
- Dental treatment resulting from injury
- Prescription drugs
- Outpatient services
- Convalescent nursing home care
- Home health care
- Purchase of prosthetic devices
- Casts, splints, and crutches
However when people opt for low cost health
care, they get very few of these benefits which
can be detrimental to their health. And if they
develop any fatal diseases such as cancer or
AIDS their health insurance does not cover any
expenses.
So while low cost health insurance is fine
for some, it has plenty of disadvantages as
well. |
