I See Advertisements For Health Coverage For Individuals And Families And The Price Is Under $100 A Month. How Come All The Companies I Look At Are So Much Higher?
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Asked October 25, 2011
The key to the huge apparent disparity in advertised health insurance coverage and what you are asked to pay for health insurance is a confusion of terms, not that you are being overcharged by your insurance company. If you take a few minutes to read the fine print on those super-affordable health coverage ads, you will see that they are not insurance plans at all, but simply assistance plans that provide you with discounts or minor assistance, not complete health insurance.
Health coverage might include discounts on prescriptions or doctor visits, and may even offer to pay for a portion of your hospital stay. However, if you look closely at what is being offered for your low cost health coverage, you will quickly discover that only certain prescriptions are included, or you must visit a specific doctor for specific procedures, and that the hospital allowance amounts to only a fraction of what it costing you for the room, without ever touching the cost of surgery at all. Health coverage is not the same as health insurance, and you can generally expect to get what you pay for.
Health insurance will cost you more, but it will include a much wider ranges of circumstances. This is not to say that you will not have any costs, either. Most types of health insurance still require you to make copay, and you will almost certainly have an initial deductible. Health insurance will provide you with coverage that extends to most of your medical needs, including visiting specialists and going in for surgeries. Health insurance may not pay for all of your prescriptions, but it will make it possible for you to see the doctors you need to get those prescriptions.
In the end, the best course of action is to have both a health coverage plan that will pay for your prescriptions and a health insurance plan for your medical needs. It may seem like an unnecessary expense to have both, but just the prescriptions alone could cost you hundreds of dollars a month, even with a health insurance plan.
Answered October 25, 2011 by Anonymous