The struggle for affordable health care is faced by millions of American families. As medical insurance plans costs continue to rise, affordable medical insurance becomes more difficult to find. Without affordable health coverage, families run a much higher risk of a small health problem turning into a nightmare, with both medical and financial consequences.
Families and individuals can still find affordable private medical insurance and it may be more important now than ever before. The President and Congress are both announcing plans for a health care reform bill to be put to a vote in July 09. People who are without insurance after a reform plan is instituted will find themselves subject to a new policy with a new set of rules. No one knows yet what that policy might include, so it makes sense to do your research now and make your own decisions about affordable health care.
The only sure way to compare medical insurance is to look at the premium amounts, benefits, co-pays and deductibles and find the combination of numbers that fits your needs and your budget.
Of course, you need a premium amount you can afford or you will wind up being unable to keep the policy in effect. The premium amount is the ongoing fee you pay in exchange for the benefits you receive.
Benefits, the money the insurance company pays when a claim is approved, vary widely between policies and companies. Some policies only pay for hospital stays and emergency care. Others pay for routine doctor visits and preventative care as well. Some plans will accept clients with pre-existing medical conditions and others will not. A medical insurance policy may include prescription drugs or you pay need separate coverage for medications.
You may need to pay a co-pay with your medical insurance plan. A co-pay is the money you must pay yourself at the time a medical service is received. The co-pay amount will vary between different types of services. You may pay a $10 co-pay for an office visit, but pay $40 for an emergency room visit. Generally, the higher your co-pay, the lower your premium will be.
Deductibles are another expense involved with affordable medical health care. The deductible is the dollar amount of covered medical services you need to pay yourself before the medical insurance company begins to kick in on the bills. The deductible you choose will have a significant effect on how affordable health insurance coverage will be for yourself or your family. The higher your deductible, the lower your premium cost will be. It is important to understand the terms of your deductible. With some medical insurance, the deductible amount must be met for each member of the family. Other policies just have one deductible amount for the policy, no matter how many family members are included.
Affordable health insurance isn’t always easy to find, but by being able to choose your deductible and perhaps the co-pay amounts you are responsible for, you may be able to affect the premium amount you pay, leaving you with an affordable health coverage plan that provides quality care at a reasonable cost.