Individual Health Insurance Isn't Always What the Doctor Ordered
According to a Consumer Reports investigation covered by the Washington Post on June 9, 2009 ("Some Insurance Plans Are Bad for You"), most people erroneously believe their health policies have them solidly covered. In truth, a vast array of exclusions, limits, and loopholes will prevent the benefits from addressing high medical costs in the event of a serious illness .
The most egregious offenses are found in individual plans purchased by consumers who have lost their work-related coverage, those who are too young for Medicare, or who make too much money to qualify for Medicaid. The problem is extensive, given the fact that some 14,000 Americans lose their employment-related coverage daily .
Already more costly than job-based coverage, individual plans are a nightmare for any person not in perfect health. The variations on the plans that have "affordable" premiums offer next to no coverage in the event of a real health crisis .
The article listed seven warning signs of an inadequate health plan including: limited benefits, low overall coverage limits, "affordable" premiums, no coverage for important things, ceilings on categories of care, limitless out-of-pocket costs, and random "gotchas."
Policies that did not cover "important things," lacked benefits for prescription drugs or outpatient chemotherapy. Consumer Reports counseled that if a medical service is not specifically mentioned, assume is is not covered. Random "gotchas" might include hospital coverage activating on the second day of a stay rather than the first. Day one of a stay usually involves a scheduled surgery or expensive diagnostic tests .
The full text of the Consumer Report investigation can be found at ConsumerReportsHealth.org.
