Discount Plans vs. Health Insurance
It is always advised to carefully scrutinize all the clauses, restrictions, rules and regulation of the insurance scheme that you want to invest in. Most people get duped into purchasing useless schemes that. In fact there are “discount plans” which claim to have similar benefits as the regular health insurance plan, but are futile and a big waste of money. They demand a huge sum of money, but do not provide full medical health insurance. Thus one should always make sure what they are getting into and find a plan that suits them and their requirements the best.Discount plans provide monthly concessions on purchasing drugs, consulting physicians, dentists, eye doctors or specialists. They have no restrictions about certain age groups joining and welcome everyone no matter what illness they have. They provide a set monthly amount, and concessions on visiting their list of doctors and specialists. However, you should note that they only provide concessions not cover your medical expenses. This discount proves to be very expensive at the end because you have to bear three fourth of the medical expenses and pay the discount company their premium as well, whereas, a health insurance company will provide complete medical coverage, and you only have to pay their annual premiums. Discount groups have a huge range of hospitals and doctors where they give their concessions, but you may not be able to contact them in times of emergency. They have only a few brand name drugs, which you can buy at a confessional rate. However if you have an insurance plan, you can opt for the discount schemes to save a little more money. But do not depend on discount plans completely, as they do not cover all your expenses.
On the other hand, HMO and other medical and healthy insurance schemes cover your full medical requirements at an affordable rate. You can choose the plan as per your requirements and pay an annual premium to enjoy the benefits. These health insurance plans help us save a lot of money and provide great service. They cover your doctor’s consultation fees as well as your medication fee, at a very low rate. Some of the insurance agencies even accept the premiums on an instalment basis. They have a lot of flexibility and very few restrictions, which do not hamper your medical problems.
However you should be careful wile choosing your plan to get the best deal. If you require full medical assistance then a discount plan will not be sufficient for you. If you require a few discounts over your health insurance then discounts will help you save money. Before signing your plan, enquire whether they will pay for your medical costs or will merely reimburse you. Find out which hospitals do they provide concessions at, and how far they are from your home. On the internet, always check to see if the discount site is authentic to avoid getting caught in a scam.