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Medical Insurance Online Quote

Published Saturday, September 6, 2008 by bloggerblognet37044 | E-mail this post

Medical insurance companies carry this stereotypical stigma of being run by greedy capitalist CEOs who are more interested in maximizing their profits than maximizing your health.

If you have ever applied for a medical insurance online quote, then you know just how expensive medical insurance can be these days. But if you think medical insurance is expensive, you should see how expensive medical care is without it!

Medical insurance is like a "necessary evil". It is something nobody wants to pay, like taxes, credit card bills, or even car insurance. But it is "necessary" for your own protection, though not required by law!

The fact of the matter is that while it is true that insurance companies exist for profit, they do empower us, as consumers, with the ability to choose the best health insurance plan that is right for us, based on our healthcare needs and our financial disposition.

Basically, choosing the right medical insurance plan boils down to: how much medical care you need. Never base your decision solely on which plan has the lowest monthly premium, because that can very often work against you. Lower monthly premiums also mean higher variable out-of-pocket expenses (which are cleverly disguised as "deductibles"). A deductible is how much you are willing to pay directly to your medical providers as a variable expense.

If you know that you are going to need a lot of medical care in the form of frequent doctor's visits, medical procedures, prescription drugs, or even maternity coverage, then it would behoove you to get a plan with a higher monthly premium. Doing so will actually work to your advantage, because your medical expenses will be easier to budget and manage.

It is somewhat like how many electric, water, and natural gas companies offer "budget plans" where you pay the same amount every month, regardless of how much electricity, water, or gas you use. This way even if you use more gas to hear your home in the winter and less in the summer, you still pay the same fixed monthly payment.

That's the same idea behind health insurance premiums. The higher the premium, the more easily you can budget for your medical expenses.

On the other hand, if you rarely ever need medical care, then a lower premium with a higher deductible would be better for you. This way you pay less for your medical coverage, which you rarely ever use. And if you ever do need medical attention, you only pay for it when you need it. But then you need to be prepared to pay the deductible when the bill comes due.

Compare multiple health plans and get a free health insurance quote instantly.

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