MEGA Life's Tips on Finding Affordable Health Insurance Plans

Armen Hareyan's picture

MEGA Life helps consumers looking for affordable health insurance coverage.

The rising cost of health care has made comprehensive health insurance unaffordable to many. For those who cannot afford a fully comprehensive plan, The MEGA Life and Health Insurance Company offers the following consumer tips on finding affordable health insurance.

As a subsidiary of HealthMarkets, MEGA is a leading provider of affordable health and life insurance to the self-employed, individuals and small businesses.

Consult the experts about health insurance

A great place to start a search for health insurance is by finding an agent you trust. Additionally, state departments of insurance are a great source for objective information about insurance providers - much of it available on the Internet.

"When selecting an individual health insurance plan there are a multitude of very important decisions that must be made," said Jack Heller, Executive Vice President of UGA, the principal marketing division of The MEGA Life and Health Insurance Company. "A licensed and trained agent is your best resource to fully explain the policy you are considering, answer questions and assist you throughout the process and after the sale."

Know Your Options

A few basic categories of health insurance include:

Defined Benefit Plans
Defined benefit plans may make sense for consumers who have a limited budget but want some level of coverage. These plans typically cover most inpatient, outpatient and physician services, but in limited amounts.


Consumer-Guided Plans
Some consumer-guided plans offer access to information-packed Web sites with innovative tools that allow consumers to shop around for the best value among quality health care providers. These plans encourage consumer involvement in health care spending decisions while helping to maximize plan benefits.

Preferred Provider Organization Plans
A PPO plan offers a network of providers who provide health care services at a discount. They typically offer more coverage than Defined Benefit Plans and Consumer-Guided Plans, but generally also have higher monthly premiums.

High-Deductible Health Insurance Plans
Some high-deductible health insurance plans are designed to be compatible with a Health Savings Account (HSA). An HSA enables consumers to save and pay for qualified medical expenses on a tax-free basis.

A high deductible plan with an HSA may work well for consumers looking for an insurance company to pay catastrophic coverage who are willing to pay smaller claims out of pocket using the HSA. The plans allow consumers to save money on their premiums and put that into a tax-advantaged account should it be needed.

When buying insurance, it pays to ask questions. Find an agent you trust to sit down and walk through your policy. That way, when something comes up involving your policy, you will have an agent who is ready to help.

A few questions might include:

Policy limits

-- Are there per illness limitations?

-- What is the lifetime limitation on a policy?

-- Do you have any daily limitations?


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