Which health insurance is the best to get at a low cost?

Answer

The question has two concepts that can be in direct conflict with each other: Best & Low Cost. As you might imagine there are always trade-offs when you compare price and benefits. Is the lowest cost plan a good deal if it does not pay for Rx and you have several perscriptions?

Simply going to a website and looking for the lowest quote is probaly the WORST way to buy health insurance. Most people do not understand the differences nor do they have any context with which to evaluate limitations and exclusions.

I recently reviewed a policy for a client that had two provisions that he thought were fine because he did not understand the exposure he had. One said it paid for ambulance 100% but the fine print said 'up to $100'. Here in the Bay Area of CA a typical ambulance ride can be $1000 or more! A second limitaion was it paid for chemotherapy 100% ... 'up to $1000 per day'. This may sound good because most people have no context with which to weigh that statement. It is not uncommon for such treatments to run in excess of $15,000 per day. If you needed just three treatments this 'cheap' policy would cost you $42,000 out of your pocket. That does not sound cheap to me.

You should always talk to an independent agent who is a healhcare specialist. Let them help you find the right balance of coverage and price. BTW - you do not pay anything extra to use a qualified agent. They can offer you the same prices you would get if you shopped and bought direct. Don't deny yourself that expertise for zero benefit!

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