The Affordable Alternative to Traditional Individual Health Insurance

Health Insurance

As a means to start let us define what I mean by conventional health insurance. The conventional health insurance policy Consists of:

The deductible - This is the sum which you need to cover a medical event prior to your health insurance will begin to pay. In the current world that deductible is usually $3000 or more.

The coinsurance - After the deductible is met many policies require the insured pay a proportion of medical expenses up to a max. Normally the insured pays anywhere from 20 percent to up to 50 percent of each dollar charged.

The copays - In an effort to create regular health care available in many coverages incorporate a copay for doctor visits and prescriptions instead of having to meet a deductible. A good instance of that is your $10 office visit copay.

Maximum Out-Of-Pocket Prices - This is the most that an insured will expect to pay no matter how big the health care bills are. As a general rule the most out-of-pocket prices for an person are restricted to about $7000. This may be a very misleading amount since it presumes that all your suppliers are on your community. If they're from community your prices can be significantly greater.

And the"Network" - Nearly every classic individual health insurance policy is tied into a community of suppliers. There's a lot wrong with"networks" with this particular report. Suffice it to state that"networks" would be the enemy of the healthcare customer (you).

The Problem Facing Working Americans

The issue is straightforward: health insurance premiums are too large for many working Americans at the absence of a subsidy and if coupled with exceptionally high deductible and out-of-pocket expenses, healthcare becomes unaffordable.

A couple ages 62 and 63 discover their cheapest premium choice with BCBS of NC is $1999 per month to get a 13,300 family deductible with no copays.

Assuming the cheapest plan the yearly cost could be $23,988 yearly. And when either individual had a medical event like cancer, the true cost for healthcare would be 37,288.

A non-smoking 30 year-old couple discovered the cheapest plan would cost $787.84 per month to get a 13,300 family deductible with no copays. The cheapest plan that comprised copays was 1056.88 however had a $7000 deductible as well as also the most restrictive system. Assuming the cheapest plan, if either member of the young couple have a health occasion their entire yearly cost (deductible + top ) will be 16,454.08.

The easy answer for this predicament is that a Fixed Benefit Health Insurance. Examples of services that are specified may include: daily benefit for in-hospital remain of 24 hours, certain dollar benefits for given operations, a particular benefit for physician visits and other charges that are specified. An excellent Fixed Benefit Health Insurance Policy may have quite powerful benefits, a broad array of specified covered fees, an extremely comprehensive surgical program and much more. The most significant service which Fixed Benefit Health Insurance Policy can include is medical invoice discussion, a service which may considerably reduce out-of-pocket expenditures.

What's really good about this kind of policy is that enables the guaranteed to become a better customer. Understanding how much your policy will cover you to get a given medical service permits one to better save and negotiate the purchase price. However, the really fantastic thing about this policy is that the inexpensive premium.

The few ages 62 and 63 are a real client of mine that was occupying for five years as a consequence of the high premiums. That is an yearly savings of $15,792. As I explained to my customer the Fixed Benefit Health Insurance Policy will do a fantastic job of covering 70 percent to 80% of all which may occur. If they really saved the 15,792 gap in premium they'd have amazing access to healthcare using hardly any from their pocket.

Back in 2014 I had been diagnosed with colon cancer also had a partial elimination of large intestine (CP44205). Back then I had been covered on a standard major medical policy. My complete out-of-pocket prices were greater than $7000. Not every medical occasion could have led to a check and several could have led in out-of-pocket prices of several thousand bucks, but generally the savings could have more than offset those costs.

Thus, before you decide to go with no health insurance I strongly recommend you take a good look in a Fixed Benefit Health Insurance Policy.