Health Insurance

If you’ve ever had the distinct pleasure of trying to decide which health insurance plan was right for you, you’ve probably run across some so called ‘low cost health insurance’ plans. Most people believe that products advertised as ‘low cost’ are not worth anything. However, there are some low cost health insurance plans that are good. You simply need to know what you’re looking for.

I recommend anyone who is looking into purchasing a health insurance plan to pay careful attention to the terms, limitations, and costs of the plan. This is especially so for low cost health insurance plans. However, if you’re willing to give up some of the extras that you may not need, you can reduce your cost significantly.

For instance, I have a large life insurance policy. In the event that I’m diagnosed with a terminal illness, such as cancer, I can cash out that life insurance plan for 90% payout directly to me. This is a great benefit to the person holding the plan. Now I know there’s some skeptics out there thinking that the insurance company did that to save the other 10% for themselves. Well, that’s true. But it’s also a viable option for some people. For instance, I have a $1,000,000 policy that I’ve had for many years now. It hardly costs me anything, specifically because I got it when I was younger. If I decide to save some money by switching to a low cost health insurance plan, I’m going to look for one with lower limits, because I know that if I get something terminal, I have $900,000 to work with for treatment. If I get something that’s not terminal, I can manage to set up a payment plan, or just take the extra out of the bank.

This may not be something that you’re able to do. Perhaps you don’t feel comfortable with it, or you just don’t want to take the extra money out of the bank. For whatever reason, if you’re not comfortable with the risk I would choose, and you still want to find a low cost health insurance plan, then you need to look at the options, and see which ‘frills’ you can do without. If you have perfect eyesight, and aren’t worried about needing glasses, then drop the vision. If you don’t feel like you need dental, or would rather just pay out of pocket for your checkups, then by all means, drop that.

There are many different ways to find a low cost health insurance plan. Look into the options, talk to a couple of different companies about their low cost plans, and find out what you can do. There’s no reason to not have health insurance, but there’s also no reason to pay for an excessive plan when a basic low cost health insurance plan covers all your needs that you can’t meet yourself.