Limited Benefit Plans
Limited Benefit Plans are health plans with lower monthly premiums than comprehensive major-medical health insurance plans because they offer a "stripped down" basket of benefits.
Each state in the country has some "mandated benefits" that private health insurance companies must offer to their insureds. Some states have more than thirty mandated benefits, while others have less than ten. Limited benefit plans have been approved in some states to offer a basket of benefits that fall short of state mandates, but they must be clearly communicated to health insurance shoppers.
Limited benefit plans can reduce out of pocket costs to their policy holders, but the discounts are not as deep as you might think. Average discounts are modest and estimated at around 5-9%.
Limited benefit plans have not sold well since their inception as customers have had only luke-warm interest, and many health insurers have been reluctant to sell them.
Before settling on a limited benefit plan, you should compare health insurance rates from individual health insurance plans. Their may be a health plan affordable enough for your budget, without having to sacrifice coverage.
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