Major Medical Health Insurance Is a Necessity
A serious illness or injury can have a lasting impact on more than just your health; it can take a significant toll on your finances as well. Too many Nevadans spend years saving to pay off a home or to enjoy a comfortable retirement, only to watch their hard-earned savings and future earned income disappear because of a medical emergency. Very few people are wealthy enough to be self-insured; the rest of us rely on major medical health insurance to protect us from financial hardship.
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One of the goals of the Affordable Care Act was to do away with skimpy health insurance plans that don’t provide adequate coverage. There continues to be short term insurance plans, mini medical plans, indemnity plans, etc. These plans have limits, and many have underwriting qualifications to get them. Desperate Nevadans and sometimes income strapped Nevadan’s who are searching for budget-friendly health insurance options may be drawn to these plans because of their low monthly premiums.
Know What You Are Buying!
While these plans may look and sound like major medical health insurance, they do not provide the coverage that many customers expect. Sometimes you may speak with agents that sell these products in a deceitful manner, making them sound like they have coverage of an ACA (Obamacare) plan, but they do not offer the full benefits of one.
Different Types of Health Coverage
There are two main alternatives to major medical health insurance: fixed benefit indemnity plans and medical discount cards.
Fixed Benefit Indemnity Plans
Nevadans with fixed benefit indemnity plans are reimbursed a set sum for medical services. Despite the skinny coverage, these plans can cost as much as a major medical health insurance plan. In most cases, reimbursed sums are too low, potentially leaving customers who experience major health problems with medical bills sending them into bankruptcy. For example, a popular fixed benefit indemnity plan that costs $450 per month pays $100 for up to five doctor’s visits per year, $50 per year for screening tests and $1,000 a day for up to 30 days in the hospital. On average, hospital stays costs THOUSANDS per day. In all, the average expense for a hospital stay is over $9,000, and that number soars to almost $23,000 if surgery is performed. Fixed benefit indemnity plans may pay a set dollar amount for costs like surgery, tests, and prescription drugs. They pay their fixed amount, and that’s it.
Medical Discount Cards
Another type of health coverage that masquerades as major medical coverage is in the form of medical discount cards. As the name suggests, this type of coverage provides discounts on medical services in exchange for a monthly fee. Unfortunately, in many cases, customers have a hard time finding providers that offer the promised discounts, meaning that their monthly payment went towards nothing more than lining the pockets of those peddling these “plans.”
Finding Quality Health Insurance with Nevada Insurance Enrollment
If you’re shopping for health insurance with a tight budget, then you may believe that a cheap, bare-bones plan is your only option. However, for most people, major medical coverage is still within reach. A health insurance agent from Nevada Insurance Enrollment can help you find a health insurance plan that provides real protection in the event of an injury or illness, ensuring that if the unexpected happens, your situation won’t be worsened with financial troubles. These plans are ACA approved that may have Government assistance depending on your household income, if you are enrolling during a “life event” (marriage, birth, etc.,) or during “Open Enrollment” (Usually 11/1 – 1/15 each year but times can vary).
Call our agents to get the right plan for you. We will not talk you into a plan that does not suit you, and always aim to give you ACA coverage if possible.
Read More: Health Insurance in Las Vegas, Nevada
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