Health insurance is the best way to get peace of mind in the case of unforeseen and unpredictable medical problems. But while there are plenty of health insurances out in the market, not all are suited for everyone. Some will be very expensive and can be a serious burden for people who are struggling with their own finances. Here’s how you can select a low cost health insurance.
- Check out health plans with high deductibles. High deductible health plans are great for people who are in good health. The monthly premiums and payments are very low, but keep in mind that there are very high payments that you will need to shoulder in the event of a medical condition. Nonetheless, people who feel confident about their health can consider these types of health plans. You should consult your doctor beforehand, however, to see whether this is a viable option for you.
- Consider Mini Medical Insurance options. Another option that you can consider are Mini Medical Insurance options, which will give you health care with low monthly payments and premiums. One of the disadvantages of these types of insurance options, however, is that you will only get certain types of health services, such as aid in prescription drugs, coverage in certain accidents, and aid on selected doctor’s appointments. Again, this is best if you are a healthy individual who does not expect to be involved in any serious medical condition soon.
- HMO or PPO. You should also consider between Preferred Provider Organizations and Health Maintenance Organizations. What sets this two apart is that you can choose your own health care provider with the former, while you will need to make do with the doctors and health facilities under the health insurance provider’s list if you choose the latter. PPOs provide you with the security of dealing with doctors that you already know, but this comes with a price. HMOs, on the other hand, are usually much cheaper. Keep in mind, however, that there are HMOs that will provide you with excellent service, as long as you check the doctors and medical institutions affiliated with the HMO.
- Look at the pros and cons. Once you have an idea of the types of health care options, you will need to weigh in the pros and cons of each type of health care service provider. For instance, people with prevailing medical conditions and illnesses will simply have to shoulder the larger health costs in order to get insurance. Your occupation and lifestyle will also be some of the factors that will help you decide. If you smoke, for instance, you should invest in better health plans even if these are more expensive. Or if you are involved in manual labor, you should invest in better health plans for possible accidents.
Before finalizing your decision, make sure that you let your family doctor know. He will have some professional opinion that can help you clarify your choices and ensure that you will get a health plan that will suit your needs.