Mini Medical Plans - A Low Cost Health Insurance Alternative

A mini medical plan is a health insurance policy that provides less coverage than average health insurance policies. Why would anyone opt for this coverage? The main reason anyone chooses these plans are because this is a less expensive option than the typical health insurance plan. Who might want this kind of policy? Mini Medical Plans are well-tailored for young, healthy individuals with no family history of disease who wishes to be covered in the event that he has a health care issue. If you think you might want to go with a mini medical plan, then there are a few things that you should consider before making that commitment.

Pay attention to the fine print. This might seem to go without saying, but you would be surprised how many people sign up for a mini medical plan without really knowing the coverage that will be offered. Then, when something catastrophic happens (like a broken limb) and coverage is not there, they find themselves in some deep financial trouble. That is why it is imperative to study the policy carefully and ask questions of the insurance company prior to signing anything. That way, if something does happen that requires you to make an insurance claim; you know if your mini medical plan will cover your costs.

All mini medical plans are not created equal and you need to know what to look for when choosing a plan. So what are some of the things that you should look for? Figure out when the plan will pay. Some mini medical plans are set up to pay only after a certain cost threshold is met. In addition, check to see if there are limits as to the medical providers who you can see for your medical care. Some plans only allow you to see certain doctors while others do not limit you. Check to see what your co-pays will be for office visits and procedures. Typically, a mini medical plan has higher out-of-pocket co-pays than do the typical health insurance policies. Lastly, seek a policy with high annual caps for medical claims. You want a policy that will pay the most money per year as possible in order to avoid paying for your medical care yourself at the end of the year when you have reached the cap.

If you are a young, healthy person, a mini medical plan might be for you. Mini medical plans keep your costs down, and if you don't anticipate having any health problems in the near future, then it might be a good option for you. You'll have medical coverage for check-ups and when you come down with a cold, but you don't have to incur a huge cost to maintain it.