Affordable Health Insurance - Know What to Look For

Frugal is the new lifestyle and everyone is looking for ways to save money. Usually the first place that people look to trim off a few dollars is on their insurance products. They haggle over their car insurance premiums, maybe go without life insurance for another year, and then start shopping for affordable health insurance. Looking for ways to save money is a great way to ensure that you live within your means and that you have money when you need it. However, price should not be the governing factor when it comes to your medical coverage. Picking the wrong policy can actually end up costing you thousands of dollars in the long run.

There are lots of ads out there that claim to offer health insurance for a paltry $69.00 per month and sometimes even less. However, the saying that if something seems too good to be true it usually is applies in this situation. Affordable health insurance which offers your family with the coverage needed will never be that inexpensive. Actually, what you might actually be paying for can be a limited benefit insurance plan. These types of plans are actually stripped down versions of health insurance that only pay for certain services or cap your benefits at a few thousand dollars.

Major medical insurance, which is what your family really needs, pays for an extensive amount of medical services. These policies contain very few gaps as they are intended to assist a person with virtually any healthcare scenario. This is the most common type of affordable health insurance on the market and pays for services such as x-rays, lab test, and home health aide. Limited benefit insurance, on the other hand, only pays for some of the basics and many times not even that.

Typically, people believe that they cannot afford insurance and are often swayed into believing that a limited liability plan is their only option and that this is better than having nothing at all. You are much better off with a higher deductible major medical policy than you would be with a limited benefit plan. To put this in perspective, say you had a medical claimof $100,000 for a triple bypass surgery that included a four night hospital stay. If you had a major medical policy with a $5,000 deductible and 100% coinsurance you would only owe the $5,000. Whereas if you had a limited benefit plan that only paid $1,000 per day for hospital and capped at $5,000 for surgery you would have to pay the remaining $91,000 on this claim. Which one would you rather pay?

If you are looking for affordable health insurance because you are struggling financially, it is better to work with an insurance agent who can help you shop around the insurance providers to find a good plan that fits your budget. Since they contain the information and experience in the market, they can help you save considerable time as well as money. Don't take a chance with your family's health. Contact an agent for a free consultation.


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Kent Kingsley is an independent health insurance agent in Charlotte North Carolina and specalizes in assisting individuals every day find affordable health insurance North Carolina. Please visit this North Carolina health insurance site to learn about your options.