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Benefits and Drawbacks of Low Cost Health Insurance
By George G.
Low cost health insurance is a cheap and affordable alternative to normal health
insurance coverage for many Americans who cannot even afford basic health care insurance
because of expensive health insurance premiums.
You may be thinking “what exactly is low cost health insurance”? In a few words,
the premiums you pay for low cost health insurance is a small amount and you do not
have to really worry about the medical bills that you will incur with low cost health
insurance. The main aim of low cost healthcare insurance coverage is to look after
the health of yourself and your family in an inexpensive manner.
However, it does not mean low cost health insurance has no big drawbacks. Because
of the fact that you are paying lower premiums, it also means that you are getting
less benefits and coverage.
So, what makes a good healthcare insurance policy? A good health insurance policy
should have several types of coverage. Basic insurance includes hospital, surgical,
and physicians' expense. Also, 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 Health Insurance Coverage:
Hospital expense insurance pays for your room and board costs if you are hospitalized.
Basic health 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)
Other medical practitioners' services
Anesthesia and anesthesiologists' fees
Laboratory and diagnostic tests, including x-rays
Radiology and other therapy
Blood and plasma
Dental treatment resulting from injury
Convalescent nursing home care
Home health care
Purchase of prosthetic devices
Casts, splints, and crutches
Be aware that when you opt for low cost healthcare insurance, you get very few of
these benefits which can be detrimental to your health. And if you develop any fatal
diseases such as cancer or AIDS, low cost health insurance does not cover any expenses.