Limited benefit health insurance in Texas – Is it a good deal?
These days, everyone is looking for ways to save money. Others have found to purchase health insurance cheap is a way to go. And while this has its positive side, we must be careful because it can end up with a health crisis.
For many people in Dallas, Houston or throughout Texas without health insurance, a policy known as "Limited Benefit" sounds like an attractive option. The premiums are so low as $ 10 a week. But there is one major drawback: these policies pay as little as $ 1,000 a year or $ 10,000 for a lifetime – so little that some experts health insurance question whether it really corresponds to a health insurance to everyone.
Even industry executives and insurance agents are highly skeptical of such plans. At a meeting of insurance company last year, a roomful of agents burst into laughter when an officer describes a Limited Benefit Plan. But advocates plan say the simple act of giving low-income workers an insurance card can encourage them to seek routine preventive care. They argue that a degree of coverage health, however small, is better than none.
At present, the limited benefit policies are among the offerings of the fastest growing insurance health of temporary workers and part-time. Sold by half a dozen insurance companies, which cover an estimated 750,000 employees and family members. Wal-Mart Stores Inc., McDonald's Corp. and Lowe's are among the major companies making them available to their employees. For the nearly 47 million uninsured in United States today, having limited the benefits of health insurance would be better than no coverage.
Limited Benefit plans place severe financial caps on benefits such as hospital care, hospital room and board and other critical services. One of the biggest selling points of Benefit Limited plans, however, is that often cover at least part of everyday medical expenses of the insured. However, even with respect to each child care, policies have restrictions such as waiting periods for "wellness checks" and exclusions for the treatment of pre-existing conditions. Limited Benefit plans tend have deductibles that policyholders must pay each year before the benefits produced,
Some insurance companies have tried to offer low-cost policies that cover "catastrophic" health costs. But industry officials say low-income employees have not shown much interest in this type of plans require high deductibles – perhaps a couple thousand dollars – before coverage kicks in. Low-income workers are more interested in something that covers the basic expenses.
While many employers who sponsor Limited Benefit health plans for their employees reluctantly acknowledge that the plans offer little or no help with a serious illness, employers and their insurance agents say they ensure that workers understand what this special insurance and I will not.
Registration limited in the health benefit plans has grown 20% in each of the past years. Employers make it available to all hourly workers, either in time full or part and collect the premiums through payroll deduction. Many companies in the service sector typically find that 10% and 30% of workers eligible option to buy the limited benefit coverage.
limited benefit plans may have their place in today's market health insurance, but it is important consumers know exactly what they're getting up front. So if you're looking for an affordable health plan that provides catastrophic coverage, without a high-deductible you should take a look at the revolutionary, comprehensive individual health insurance solutions created by Precedent specifically for young, healthy people.
About the Author
Melih (“may-lee”) Oztalay, CEO
SmartFinds Internet Marketing
Web: www.precedent.com
EMail: melih@hsfideas.com
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