Wednesday, October 3, 2007

Low Cost Health Insurance

Low Cost Health Insurance

Ah, the beauty of the Free Market! Competition has brought to us low cost health insurance - but with the lower costs, guess what! often there have been changes in the terms and conditions of the policies. If you don't watch out, these changes can significantly impact the QUALITY of the policies, and the amount of coverage that they can provide.

If you're thinking about buying into a low cost health insurance policy, you'll need to be VERY careful when reading and researching, to see that the terms are comparable with those of a more traditional 'standard' health insurance policy.

I mean, after all - how do you suppose they manage to cut the prices so much? Sometimes the low-cost health insurance policies are sold by companies that make small changes in the language of the terms, but these small changes can have a BIG impact on your medical expenditures when it comes time to make a claim.

Perhaps the best way to go about this, is to stop by a major insurance provide and ask for a copy of the terms and conditions of a sample policy. Then you can compare the features that are offered by the 'big guys' to those of the low-cost insurance policy that you are thinking about buying. Anywhere you find a difference... ask questions about that differnce with the prospective insurance provider, and make sure you are satisfied with the explanation before signing on the dotted line!

Just remember that good old consumer advice: if something seems too good to be true, it probably is! If you're not careful, low cost health insurance can become more expensive in the long run.

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