Sunday, September 16, 2007

Medical Insurance At A Low Price

Medical insurance at a low price is advertised on the Internet through many different insurance providers, offering coverage for emergencies and medical care with lower premiums. Some companies offer competitive quotes from several sources with up to five quotes from reputable insurers. Cheap coverage is available on the Internet through state and federally sponsored programs which are targeted towards insuring children up to the age of 19 years. The government helps working families protect the health of their children through these programs. One consideration for coverage on medical insurance at a low price may include total household income, but qualification varies by state. To find out each state's requirements, consumers need to do a search online.

Cheap coverage usually includes some out of pocket expenses. Deductibles may have to be met before reimbursement begins on health insurance at a low price. Some plans have lower co-payments that are required to be paid by the insured at the time services are rendered. Usually co-payments are required on doctor visits and prescription drugs. Major medical plans require deductibles be paid at the time services are rendered. After deductibles are met, the insurance will pay a percentage of the claim. Many plans pay up to 80% on medical insurance claims for major services and the insured pays 20% of expenses. With higher deductibles and higher out of pocket expenses, lower premiums may be obtained on medical insurance at a low price. The consumer will have to look over their budget as well as their personal health to determine what coverage is affordable and necessary.

Major managed care plans are offered through providers. Health maintenance organizations (HMO) usually pay the most towards medical claims and require the insured to choose a physician from the HMO network. The plan includes co-payments that are usually low and there are lower out of pocket expenses for the insured with health insurance at a low price. Providers will offer other managed care plans as well, including a preferred provider organization (PPO) which offers lower premiums but pays less for medical expenses than an HMO. A PPO plan will usually offer more flexibility on doctor choices but these physicians will still need to be part of their network to ensure less out of pocket expenses for the insured. Consumers need to shop around for health insurance at a low price by obtaining free quotes online. "So teach us to number our days, that we may apply our hearts unto wisdom" (Psalm 90:12)

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