Medical Discount Plans-Yes Or No?

The fact that health care costs are rising everywhere and insurance premiums are following pace, more consumers have begun to take a closer look at medical discount plans. These plans hold the promise of reduced costs for the insured, and for those who can’t get coverage or can’t afford it, such plans amount to ‘the next best thing.’

Honest sellers of medical discount plans are upfront about the fact that they’re not selling actual insurance. Many dishonest sellers deceive consumers with exaggerated marketing hype, obscure fine print, and calculated omission, leading them to believe that what they are buying is actually health insurance.

Unlike health insurance, discount plans dont pay your medical claims. Medical discount plans are not health insurance. They give you access, for a fee, to a list of health care providers who have agreed to offer their services at a discounted rate. You’ll still have to pay the entire bill yourself. The right medical discount plan can help you save money on expenses and can be a helpful weapon in combating high health care costs. The wrong plan will simply add to your overall tab.

Before purchasing a medical discount plan:

*Ask to see a list of discount providers – if the company refuses, walk away

*Check with your the Better Business Bureau or state department of insurance to see if there are consumer complaints against the company.

* What kind of complaints, and how were they resolved?

*Read the fine print very carefully

*Verify that the company has a toll-free customer service number and a web site

*Investigate claims that seem sound exaggerated or too good to be true

* Do the math to see if the potential savings of a medical discount plan justify the cost to purchase it.

*Resist any high-pressure sales tactics, especially deadlines and limited-time offers

Medical discount plans can help fight the high cost of health care if you take a little time to find the right one.