The Value of "Cheap" Health Insurance...
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Do you really want "cheap" health insurance? To some, "cheap" means low quality and to others it simply means low cost. Most would agree that "cheap" means price is more of a focus than quality. And sometimes price really is more important than quality. However, the old adage 'you get what you pay for' can apply to anything, even cheap health insurance.
You might decide to take your chances going cheap with less important goods and services. Sometimes cheap is great. Off-season designer clothes and accessories can be both cheap and high quality! Anytime you can buy a name brand product at a discount you're getting the best of both worlds. In addition to designer goods, loans and mortgages are even better when they're cheap. Do you really care if you send your mortgage payment to a name brand bank or a small credit union? All you care about is getting the best possible rate, right?
But with certain other products and services buying the "cheapest" option may be a waste of money. Insurance is a prime example. When purchasing health insurance, homeowner's insurance or auto insurance, you're buying the promise that the insurer will be there for you when you need them. Finding a reputable company is key to preserving your peace of mind.
There can be risks associated with buying cheap health insurance. The point of insurance is to pay a relatively small premium for the promise the insurance company will cover the costs for any large claims you may have in the future. Obviously, an insurance company should be financially stable. There are consumer watchdog companies such as AM Best that rate the financial stability of insurance companies. For AM Best to consider an insurance company financially secure, they must have a minimum rating of B+. You can review their website to learn more about how they rate insurance companies.
Another consumer advocacy group that reports on insurance companies is the Better Business Bureau. The BBB is, among other things, a place where consumers can voice complaints against a variety of companies. Before you purchase a cheap health insurance plan, you may consider researching the BBB website to determine if other consumers have filed complaints against the insurance company for issues such as non-payment of claims.
When it comes to health insurance, don't automatically look for the cheapest plan. Consider your and your family's needs and look for a plan that you can rely on to meet those needs. If you're looking for an affordable health insurance alternative, consider a plan with a higher deductible. High deductible health plans are offered by a variety of the nation's leading insurance companies.
While cheap health insurance may be unrealistic, and undesirable, you can find affordable and reliable health insurance plans to fit your budget. Visit eHealthInsurance for free online quotes and start looking for your quality affordable health insurance today.
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