Alternatives to Standard
Health Insurance Options
If you are unable to
get coverage because of a pre-existing condition—such as stroke,
heart attacks, or diabetes, you may need to consider some other
options. However, before settling for something that is not considered
"insurance," be aware that if you go 63 days without coverage, it
can be even more difficult to get true insurance later on. Most
of the following options are NOT insurance, so be sure to ask.
Discount plans.
With the high cost of health care, discount plans have become
very common and are often the first offers you receive if you
make an inquiry through the internet. The discount plan charges
you a premium in return for a negotiated, reduced payment to a
doctor or hospital. The plan does not pay the hospital for you.
You simply pay 20% to 60% less than the hospital would bill an
insurance company. Some plans claim to reduce your bill by up
to 80%. It is rare however, to find that much of a reduction.
Talk to someone in the business office of your local hospital
or to your doctor before taking such a plan. These plans are not
considered insurance, but will generally not apply if you do have
insurance.
Indemnity plans.
These are plans that pay you directly in the event of accident,
illness or hospitalization. They are best known for paying in
the event of an accident, but because of the multitude of uninsured
Americans, they have expanded. You pay a premium which can cover
you or your entire family. If you have an accident or illness,
you file a claim and the company sends you a check. For example,
you may receive 200 to 600 per day for hospitalization, or some
other amount for outpatient care or emergency room care. Some
plans have a lengthy schedule showing exactly how much they pay
for each type of claim they accept. Be careful, however, that
if you are supposed to receive payment for hospitalization, it
is for any reason, not for accident only. These plans are definitely
not insurance, although some will have "insurable" elements. Because
they are not considered insurance, you can have more than one
and can keep the indemnity plan—and collect on it—even
if you have insurance.
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