The word “cheap” often has negative connotations, particularly when paired with something important like health insurance. Rest assured that cheap health insurance can be found with quality coverage by highly rated insurance companies. In this instance, a cheap health insurance plan just means that you can get coverage for an inexpensive price, not a policy with so many restrictions that it almost isn’t worth the cost.
How To Choose An Affordable Plan
There are a few ways to go about choosing a cheap health insurance policy and one of the first is asking your own doctor’s office what plans they accept. You want your doctor to accept the insurance you choose instead of being dictated by a plan and having to choose a doctor from a pre-approved list. Most doctors accept many different plans from a variety of insurance companies so chances are you will find an affordable plan from one of them.
Next, you need to determine what exactly you want out of your health insurance – a low co-payment for doctor visits, affordable prescriptions or even coverage for dental and vision. Many people opt for a high deductible for hospitalization and specialized tests like MRIs and CT scans just to have a low co-payment for a doctor visit. Pre-existing conditions may also factor into choosing a plan and while it won’t preclude you from coverage, it may not be the cheap health insurance you were hoping for.
How To Find A Reputable Insurance Company
You can turn to the internet and search for cheap health insurance or your local insurance brokers may also have affordable plans to present to you. In addition, if your workplace does not offer insurance at a discount, member organizations you belong to may have specialized plans for members. Civic, service and trade organizations often offer members insurance plans at affordable rates so consider them a source for cheap health insurance.
Regardless of where you get quotes for cheap health insurance, always check the underwriting insurance company out to insure their financial stability. You want them to be financially solvent and able to cover your claims when needed, not suddenly close its doors and declare bankruptcy, taking your payments with them. A.M. Best is a credit rating organization that sets the standards for grading insurance companies and they use grades from A to F, much like schools do. Investigate the insurance company you are considering and do not sign with any company with a rating under B+.
You can find cheap health insurance from reputable companies and still be covered adequately should you ever need to use it. Knowing what you want out of the policy and investigating the insurance company are the two key ingredients to great personal health insurance.