A Las Vegas woman thought she was getting health insurance when she bought it. It looked and sounded like health insurance. The woman from Las Vegas is not yet 65, so she can't get Medicare. So, she looked for health insurance online. She finally found something called Healthcare Advantage, paid $100, and signed up. This was not medical insurance at all, and the salesperson never told this poor woman that. When her cards came in the mail, she found out. At the bottom, it said "not an HMO, PPO insurance, or managed care company" in very small print. This was a plan to save money. A full medical health insurance plan has more coverage than these plans. Make sure you know what you're getting and if it meets your needs.
What is a discount plan, then? For a monthly fee, the plans promise to save people money by giving them discounts on doctor visits, prescription drugs, dental work, eye care, and other services. Normal health insurance is very expensive and picky about who it covers. A discount health plan, on the other hand, takes everyone, no matter what kind of health problems they may have. You will use a list of doctors who are willing to give the subscriber a discount on their fees. Discount is not the same as coverage, so you will pay more for visits and other services than you would with a regular medical plan. The average amount saved is only 25%, which could be a lot of money if you need to see a specialist or have surgery. These networks say that you can choose from up to 400,000 doctors and 50,000 hospitals. But what if none of them are close to you? You can save up to 30% on both generic and brand-name drugs, which can be expensive if you have to take a lot of them or if they are expensive. So, if you already have a health plan but your deductible is high, this extra plan might help you save some money. But if you want to use it as a full health plan, it's not really made for that and will cost more than a good HMO.
HMOs and other types of health plans can cover all of your medical needs at great prices. Managed care plans are best for people who don't have a lot of money. They have the best policies at the lowest prices. Most of these plans are open to everyone and can help you save a lot of money. Asking for a deductible will lower your monthly cost and make the plan even more affordable. Most HMOs don't have one, but you can ask for one. Most basic PPOs and POS only have a small one, usually $200 to $500 per year, which you can also ask to be raised. With these kinds of plans, co-pays are also not too high. If you buy an HMO, you can expect to pay between $5 and $10 for each office visit and each prescription. With PPOs and POSs, you pay 20% of the cost of both visits and medicines. The difference is how strict they are, and if you want more freedom, you have to pay more for your co-pay. Most of the time, a PPO or POS plan is cheaper and gives you more freedom to see whoever you want. This means that the insurance company makes you more responsible for paying. HMOs are usually the best and least expensive plans for people on a fixed income.
Make sure you know what you want and check what you're getting twice. A discount plan won't work for you if you need full medical coverage with a low co-pay. If you are already covered by a medical group but have a high deductible, a discount plan could help you save more money. Also, find out if the plan is insurance that pays for your treatment or a discount plan that gives you money off your medical bills but you still have to pay them all yourself. Watch out for slick sales pitches. Check to see what is being offered. Discount health plans may only sell you access to a large mailing list of doctors and hospitals that they bought on the market. Don't think that because your discount card has the name and logo of a large provider network that you can use it. Ask a few questions before you sign up if you want to use a certain doctor, hospital, pharmacy, or other provider on the list.
