Health Insurance and You!

Major providers have been promoting more cost-effective health plans with lower premiums that offer customers a more limited array of doctors and hospitals, as reported by the New York Times. These plans are most likely to draw in small businesses, which typically tend to be more cost-conscious, that make insurance available. They tend to have higher deductibles and low premiums. Insurers say that companies that invest in these limited plans may reduce their premiums by as much as 15 percent.

The limited group plan’s network of doctors tends to run smaller than most traditional plans, which would narrow down options and potentially restrict customers for receiving full and proper coverage. At the same time, these plans are the more pragmatic option for cash-strapped businesses. They are also generally convenient for employees who tend to be normally healthy and require little in the form of medical attention.

However, the quality of these limited-but-affordable health care plans has been called into question by the public. While insurers have assured customers that the plans do not sacrifice quality coverage for affordability, it comes down upon the consumers in the end to do the legwork and ensure that they are receiving adequate coverage. These plans may prompt customers to think about buying an individual health plan to retain a wider range of providers

How do you feel about these limited-network group plans?