low cost health insurance

Low Cost Health Insurance

When you're shopping for a low cost health insurance policy, it pays to do your homework. Ask yourself the following key questions:

• How important is it that I keep the doctor I have now?
  If you have a particular physician in mind, that might dictate whether a PPO or an HMO is right for you, depending on whether he or she belongs to that insurance company's network.
  


• Do I prefer certain specialists?
  Keep in mind that some plans limit not only your visits but also who you can see. If you want to see an acupuncturist or chiropractor, be sure to ask your insurance agent or broker about coverage for these services. Psychotherapy and other mental-health services will probably have specific guidelines and limitations as well.
  


• What are my health insurance goals?
  If you want a comprehensive, low cost health insurance plan - and don't want a lot of out-of-pocket expenses - an HMO provides a very cost-effective way to cover you from womb to tomb. But if you're in your 20s or 30s, have no children and some extra savings, you can save by buying a policy that covers only catastrophic illnesses. Remember, though, you'll have to pay out of your own pocket for every routine doctor's visit or laboratory test.

If you can afford to pay for routine care on your own, look for comprehensive inpatient/outpatient plans with higher deductibles rather than trimmed-down hospital/surgical plans. A hospital/surgical plan might cost up to 40 percent less, but if you end up in the hospital, the last thing you need is to worry about how you're going to pay for your follow-up care once you get out of there.

If you are leaning towards a more well-rounded plan, make sure you're getting what you pay for. Read the fine print. Will your plan pay for X-rays? Will it cover your doctor's visit if you have the flu? Will it cover prescription drugs? Just make sure that you read that fine print to make it doubly sure you'll be receiving the best coverage.