Health Insurance Gotchas
Building on yesterday’s post about being Health Insurance Caution below are 7 points made in the referenced Consumer Reports article which are tell-tale signs that your health insurance plan might be junk.
- Limited Benefits - Never purchase a limited benefit plan. They are not worth the money
- Low Coverage Limits - health insurance policies with limits at $25,000 or $10,000 are inadequate to properly protect you in case of a serious accident or illness
- Affordable Health Plans- not sure I agree with this point? affordability is relative right? There are definitely some individual health insurance plans that might be more affordable vis-a-vis other health plans.
- No coverage for specific procedures etc.things - If something is not listed, most likely it is not covered
- Ceilings for Some Health Care Categories - If you have to accept limits on some services, be sure your plan covers hospital and outpatient medical treatment, doctor visits, drugs, and diagnostic and imaging tests without a dollar limit.
- Out of Pocket Costs with No Cap - Avoid plans that don’t mention your maximum out of pocket costs before the health plan will cover 100% of expenses
- Random Gotchas - such as not covering the first day of a hospital stay.
