New York Health Insurance has come under fire in recent news because of the spike in insurance scams that are being marketed as “discount plans” or “mini-medical plans.” Though these plans seem to promise the world for only a few dollars are day, are they really worth it? Point and Click Insurance investigates the surge in New York Health Insurance scams.
First it is important to note that you should always speak with a licensed professional insurance broker. If you don’t have one, Point and Click Insurance makes it easy by allowing you to get a free rate quote from professional brokers by filling out the form to your left. When dealing with health insurance it is important that you weigh your options heavily. What may be a cost saving measure now, may be a life threatening mistake if you get sick.
Health care is a trillion dollar a year business worldwide and it only appears to be growing. Due to the cost of drugs, medical negligence, and overall medicinal talent, health insurance premiums are surging with no clear end in sight. To combat this many “B” and “C” level carriers have begun to sell mini-medical plans. Typically these plans promise the world in benefits, such as prescription coverage, routine doctor visits, and some even include dental. But how can these plans cover so much for so little while other companies cost significantly more.
It is simple, mini-medical policies only cover day to day health needs such as general practice physicians, and run of the mill prescriptions such as antibiotics. The problem with these plans is that they do not cover major medical expenses. If you spend a night in the hospital you are likely to be responsible for 75% of the cost of the night. If you need surgery, or any other procedure, you may be out of luck entirely.
Simply put, these plans cover only small things which are generally inexpensive relative to the major medical expenses. However, most of these mini-medical insurance plans are marketed and sold like full health insurance programs making them deceiving to customers. If you are not sure what you own or what you are going to buy, do not hesitate to ask questions. It will save you in the long run.
By: Dean Leigh