Today, limited health insurance plans have become more popular, as more people are losing their jobs or becoming self-employed. Limited plans, unlike traditional health insurance plans, have specific limitations on the care that they cover. Before buying into a limited health insurance plan, it’s important to understand the coverage and to ask the right questions.
Over 1 million Americans are using limited health insurance plans at the moment, and this number keeps growing. Such plans have been adapted by McDonald’s, the Hair Cuttery, and Friendly’s restaurants. Similarly, many large and mainstream insurers have gotten into the act. Aetna, Cigna and Blue Cross Blue Shield all offer these types of policies. Other companies in the limited healthcare plan field include Assurant Health and many others.
Before enrolling with these limited health plans, you should ask the following questions.
1. Are there annual deductibles? If so, are they per person or per incident?
2. Is there a co-pay for doctor’s visits, lab tests and more?
3. What is the annual cap on what the plan will pay towards your medical needs? Is there a daily cap for hospital care? Are there other hospital caps?
Then, find the plan that best suits your needs and know that you’re in good company with limited insurance plans with the growing need in America today.
