Income Tax Rates

Low cost health insurance was not around when insurance coverage was developed first. This was way back in the early part of the twentieth century. However, since then to the present day, the early part of the twenty first century, many people in the United States of America do not have health insurance. The main culprit is the very high and unaffordable costs of health insurance and protection. Even employers, who provide group insurance policies, provide insurances only to their full time employees and a few part time employees based on some criteria. Health care and protection costs have gone through the roof. For people searching for a low cost alternative, there is low cost health insurance available.

What is a health insurance policy? The policy is a legal contract or deal between the insurance company and the insured person, in this case the patient. This contract helps to protect the patient from any kind of loss. It protects the insured by paying for costs when the patient suffers from any illness, medical complications or even death. Health insurance is very important today and every person must have it. Health care costs have been steadily rising and there seem to be no end in sight.

Low cost health insurances are worth it. The insurance is truly low cost. You can buy it off the internet as well. This will help you save some more money. This is because the insurance company would usually pay an agent his commission but if the insurance s bought online they will not have an agent to pay for. You can save this money. This would be about ten to fifteen percent.

Low cost health insurances might also mean higher deductibles. The next question would be what is a deductible? A deductible is the term used to refer to a sum of money that the insured has to pay to the insurance company before he makes a claim. If the medical bill comes up to an amount of seven thousand dollars and the deductible is a thousand dollars, he will have to pay the thousand dollars first, out of his own pocket. The insurance company will ten pay for the rest.

Cheap or low cost insurance does not mean low quality. It only means slightly higher deductibles. This is better than no insurance at all. There is at least a maximum limit that the person has to spend in an emergency. He knows this beforehand and should be able to make the necessary arrangements easily.