Article on "Is Low-Cost Health Insurance Worth It?"

My best friend's daughter is facing anywhere from $50,000 up in medical bills and her limited pay plan' benefit is exhausted. She is a single mom and 27 years old. From a true value standpoint these plans are almost worthless because with the premium dollars you could cover the limit things they pay for and there would be no false sense of security.
 
I agree these plans are complete BS.

I really don't know how someone can sleep at night selling these plans.



Did you try to help your friend get switch over to a subsidized plan through your state?



My best friend's daughter is facing anywhere from $50,000 up in medical bills and her limited pay plan' benefit is exhausted. She is a single mom and 27 years old. From a true value standpoint these plans are almost worthless because with the premium dollars you could cover the limit things they pay for and there would be no false sense of security.
 
"Ican's plans, Shatz says, are based on studies that found that 95% of people with major medical health plans did not have expenses that exceeded their deductible"

What happens if you do? Isn't that what you buy insurance for?

It looks to me (Billy Mays or no) that this is just another very limited-benefit plan that is essentially over priced.

$100 sign up fee? Very Mega-like.
 
Low Cost = Low Coverage

A limited benefit plan should NOT be marketed as "insurance". Call these things health care benefit plans, and make sure the client knows he is still on the hook for catastrophic loss, which real insurance would cover.

What people are looking for (that buy these plans) is a way to hold down their normal health care costs. Their budget is so slim that they can't afford normal health care on a pay-as-you-go plan. If they don't have much in the way of assets to protect, they can just file bankruptcy in the event of a catastrophy. This is unfortunate, but seems to work.

I am NOT advocating this strategy, just pointing out what is happening with limited/scheduled benefit plans. To make matters worse, AARP is pushing these plans to 50+ individuals and families. Taxpayers will have to subsidize these BKs while the media wails at rising health care costs!

Duh!
 
All I can say is this: If you choose to not properly explain and offer the reputable mini med plans that are available, you are and will be leaving money on the table.

What happens to the person that has to have cancer treated on these plans?
Will you be the agent on the other end of the phone telling the family member they have no coverage for treatment?

Someone selling these plans eventually will have their name connected to some law suit. Then if anyone researches your name before buying form you they will see there was some type of problem.

I value my name
 
These plans are great for individuals who have no high risk pool and can't get any insurance at all. I would never sell this plan to someone who could get a major med policy.
 
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