Low Cost Health Insurance - What You Should Know

 Low Cost Health Insurance - What You Should Know

As humans, our health is, and should be, our main concern... because without it we have absolutely nothing. Just think about it, no matter how much money you have, or how many toys that you own, without your health, none of the other stuff can be enjoyed.

With that, comes the responsibility that we have to take care of our health, as well as our family's health if that implies to you, and how we invest into the well being of that health.

The main way that we invest in, and take a great deal of control over how well we are when it comes to health is by making sure that we have sufficient insurance to get us through those times when it seems to be failing us for some reason or another - whether it be a simple cold or virus, or something more serious such as the diagnosis of diabetes, cancer, or heart disease. The main goal then is to make sure that when something of that nature does occur, you're well covered with good health insurance.

These days however it gets ever increasingly hard to be able to afford the health insurance that we need, especially if you're unemployed, ill-employed (meaning you work for a company who either doesn't provide its employees with insurance, or perhaps you work only part-time, therefore do not qualify for insurance.) In this case, we have to find our own low cost health insurance.

It may seem easier to not have health insurance at all because it may seem expensive, but it's not nearly as expensive as not having it and ending up with a bill in the thousands of dollars that you really can't afford. It's a tough call for many people and families out there, but much like death and taxes as they say, it really is only unavoidable at your peril most often.

And we all know good ole' Murphy from Murphy's Law, who has a tendency to show up at the worst times. Well, having health insurance, and better yet knowing where to find good low cost health insurance is a very good repellent for keeping Mr. Murphy away.

People are often confused by health insurance and rightly so, it really is a complicated subject. With so many different types of insurance plans, deductibles, fee's etc. it's no wonder that people would often rather climb into a hole then have to deal with figuring it all out. In case you're one of those people, then hopefully this article will help you understand a little bit better the different types of medical insurance plans out there, and a bit about how they work. Of course it's your responsibility to dig deeper into what you think you may need, but hopefully this will prime the pump for just that.

The main two types of health insurance that you're usually accostommed to, would be those which are usually provided by an employer. The most popular of employer provided insurance plans are HMO plans and PPO plans.

An HMO plan stands for Health Maintenance Organization. Having this type of insurance plan is very much a rigid plan which dictates which doctors are available for you to see. For the most part you must stick with the doctors within your plan.

A PPO plan on the other hand is much more flexible, and offers you a greater personal choice of doctors that you are allowed to see within the plan. Basically, you can go out of network, as long as that doctor will accept the type of insurance that you carry. As far as fee wise and expense wise however, though less flexible, the HMO plan is much cheaper and more affordable for most, having both lower co-pay (the amount you pay for each visit) as well as a lower deductible; if any. One thing to keep in mind about these two types of plans, versus the others that I'm about to mention is the fact that if you have a pre-existing condition, it is much easier to be insured with a group plan such as the HMO and PPO.

If you want a type of service that's much, much more flexible, you'll have to pay much more for it. The most expensive but most flexible type of actual insurance plan is called an Indemnity health plan, or reimbursement plan. As well, there's also the Point-of-Service plan, which has features of HMO's and PPO's.

If you want to add to what you save on health costs, you can enroll in a Health Savings Account. This is not actually health insurance, but it can be used together with an individual health plan, such as an HMO or PPO, in order to assist with the costs of health care for consumers.

There is a lot to be known about the world of health insurance, especially if you're looking for the cheapest health insurance available. Hopefully what I've provided has helped with your understanding of the main types of low cost health insurance plans.